Allied Domecq takes corporate bondholder relations very seriously as evidenced both by past history and by its recent non-deal roadshow. The roadshow aimed to update existing investors on the Allied story after an absence of more than two years from the debt capital markets. Timing was important, as was managing the expectations of investors in the face of possible market scepticism. Allied is delighted with the results of the roadshow, both in terms of communicating its message, and in finding out the questions investors want to ask about the company. It helped to both refresh long-standing relationships and build new ones.