Hi,

Please see the LocalizationWizard help topic: Step 4: Export Translations.

Excerpt:

Text used in HTML paragraphs, correspondence, and correspondence fragment rules is packaged in a pair of .txt files called Base.txt and Translation.txt. Both files initially contain the same text; the translator puts the translated text into the Translation.txt files. HTML paragraphs are imported into the localized ruleset like the text strings.