Investing in logistics and IT our competitive edge

Investing in logistics and IT our competitive edge and key to success 10 April 2008

OUR BUSINESS The ACTION Group is a leader in IT products distribution in Poland (second largest market player) and a major manufacturer of computer hardware ACTION is the largest manufacturer and the primary server vendor in Poland The Company has been building its market position for 17 years ACTION has an extensive warehouse facilities of 11, 500 sqm ACTION is expanding its operations in Ukraine – a retail chain of 15 outlets with IT hardware, household appliances and consumer electronics ACTION owns 2 private brands: Actina and Active. Jet The Group's business also includes a. pl (an e-commerce online galleria) and Sferis (a retail chain) The Company has been publicly listed at the Warsaw Stock Exchange for almost two years. 2

ACTION AS IT DISTRIBUTOR ACTION distributes IT hardware products of over 250 manufacturers Company's business partners include a majority of industry leaders, such as Samsung, Microsoft, Sony, LG, Intel, Creative, Asus, AMD or Lenovo The Company addresses its offering to independent resellers, SME sector and corporate customers 3

SALES CHANNELS Distribution Corporate Sales Department Retail sales channel – ACTION Ukraina Retail sales channel – Sferis Online sales channel – A. pl 4

SALES STRUCTURE Sales structure by gross sales generated: 5. 71% IT Components Dept 1. 70% 0. 44% 3. 08% 3. 04% 5. 21% Portable Equipment Dept 26. 60% Multimedia Dept Software Department Corporate Sales Dept 8. 95% Consumer Electronics Dept 19. 42% 25. 85% Active. Jet Department Advanced Technologies Dept Network Solutions Dept Other 5

DISTRIBUTION STRUCTURE By sales methods: Sales Department Corporate Sales Department Commercial Sales Chains Department Sales Export Department 6

CUSTOMERS OF ACTION The Company has a base of 40, 000 customers, 9, 000 of whom buy from Action at least once per month Action exports its goods to 200 customers The Company is a supplier to most retail chains in Poland The Company is a partner to largest systems integrators on the public tender market 7

WAREHOUSE FACILITIES Apart from the ACTION office buildings, the HQ location at Zamienie includes a huge warehouse complex used for order processing and constantly developed The warehouse base has just been expanded: at the end of 2007 another storage building was commissioned contributing an additional area of 4, 500 sqm The total warehouse space currently used by the Company is 11, 500 sqm 8

WAREHOUSE PERFORMANCE Distribution warehouse • Roller conveyor system • Conveyor speed – 0. 7 m/sec. , max. 1. 2 m/sec. • currently 10, 000 shipments dispatched daily • the maximum system capacity allows processing 15, 000 shipments per day • a total of 16, 500 price list items on offer • it only takes 25 seconds to handle one item High storage warehouse • first stocked at the beginning of October 2007 • receiving area moved from the distribution warehouse • 8 unloading docks – unloading ramp • pallet conveyor – a roll system between the storage and distribution warehouse • 9 forklifts, including 3 inductive loop controlled ones integrated with the system 9

ACTION PRIVATE BRANDS The ACTION Group has 2 private brands: servers, PCs consumables and office products, UPS units, batteries and chargers, power protectors, cables • At present the share of private branded products in Group's sales is approx, 10 % • ACTION assumes its increase to 15 % in financial year 2009/2010 10

ACTION IN UKRAINE Since 2004 the Company has been developing its business in Ukraine At present, it owns a total of 15 retail shops with IT products, household appliances and consumer electronics, operating as the SHOK and KREZ chains SHOK – one of the first supermarket chains in Ukraine KREZ – a chain of medium-sized outlets in centres of cities of Western Ukraine The largest locations have up to 10, 000 items on stock ACTION Ukraina employs 400 staff The Compay co-operates with an experienced and reliable Ukrainian partner who has a stable market position, particularly strong in the western part of the country 11

SFERIS Sferis - a retail chain, which has recently started offering Orange mobile telephony services Now part of the ACTION Group, Sferis runs 53 of its own shops The target size of the chain is 250 shops, 100 of which is to offer mobile products and services Those objectives are to be attained by 2012 At the beginning of 2008 the Company plans to start building a franchise chain The future plans for Sferis include its stock exchange debut. 12

A. PL An online shopping galleria launched in 2007 Unique domain name Almost 92, 000 products 114, 000 images Departments: delicatessen food, consumer electronics, household appliances, IT, mobile telephony, multimedia (music, films, games), books, office products, pet products, premium wines Dedicated grocery Unlimited number of concurrent user sessions 13

Results of the ACTION Group for Q 2

KEY EVENTS OF QUARTER 2 Sales dynamics of 33% Performance gain on further expansion of warehouse facilities – present area: 11, 500 sqm Opera FIZ increased ownership share in the Company to 10. 08 % All-times high share price of 35 PLN (7 Dec 2007) New brands added to the distribution offering: Kingston, D-Link New customer access channels launched - I-Partner - Webserwis

RESULTS FOR QUARTER 2 Sales revenue (PLN M) Operating profit (PLN M) Sales revenue increased compared to Q 2 2006/2007 by 33 % Operating profit increased compared to Q 2 2006/2007 by 172 % 16

RESULTS FOR QUARTER 2 Gross margin (%) Gross margin increased compared to Q 2 2006/2007 by 1. 5 pp Return on Equity (ROE) increased by 9. 4 pp. * Ro. E based on net profit values for the last 4 quarters 17

RESULTS FOR HALF-YEAR 1 Sales revenue (PLN M) Operating profit (PLN M) Sales revenue increased compared to half-year 1 of 2006/2007 by over 28 % Operating profit increased compared to half-year 1 by nearly 169 % 18

RESULTS FOR HALF-YEAR 1 Gross margin (%) Net profit (%) Gross margin increased compared to half-year 1 of 2006/2007 by 1. 7 pp. Net profit increased compared to half-year 1 of 2006/2007 by 111. 9 % 19

DETAILED FINANCIALS Q 2 2006/2007 Q 2 2007/2008 Change Q 1 -Q 2 2006/2007 Q 1 -Q 2 2007/2008 Change Sales revenue 527 912 701 281 32. 8 % 940 001 1 206 458 28. 3 % Gross sales revenue 35 537 57 447 61. 7 % 57 643 93 691 62. 5 % Gross sales margin 6. 7 % 8. 2 % 1. 5 pp 6. 1 % 7. 8 % 1. 7 pp Cost of sales and marketing 21 903 27 488 25. 5 % 39 611 51 609 30. 1 % Related to revenue 4. 1 % 3. 9 % -0. 2 pp 4. 2 % 4. 3 % 0. 1 pp General administrative costs 5 181 9 293 79. 4 % 8 246 20 079 143. 5 % Related to revenue 0. 9 % 1. 3 % 0. 4 pp 0. 9 % 1. 7 % 0. 8 pp - 65 2 150 --- 2 500 11 028 --- 8 388 22 816 172 % 12 286 33 031 169 % 377 1 359 --- 726 1 962 --- 5 656 13 793 143. 9 % 8 870 18 794 111. 9 % [PLN M] Balance of remaining revenue and operating costs Operating result Net financial costs Net result 20

FINANCIAL TARGETS 2007/2008 Results for Action Group Dynamics Attained 2005/06 [PLN MM] Sales revenue Attained 2006/07 Forecast 2007/08 2006/2007 vs. 2007/2008 vs. 2005/2006/2007 1 436. 5 2 257. 3 15. 9 1. 1% Net profit % margin 1 797. 5 22. 0 1. 2% 30. 3 1. 3% 25. 1% 38. 7% Sales revenue 25. 6% 37. 7% Net profit 2, 257. 3 2, 500. 0 1, 797. 5 30. 3 35. 0 30. 0 2, 000. 0 22. 0 25. 0 1, 436. 5 15. 9 1, 500. 0 20. 0 1, 000. 0 15. 0 10. 0 500. 0 5. 0 0. 0 2005/06 2006/07 2007/08 P 21

TARGET ACHIEVEMENT LEVEL Sales revenue (PLN MM) Net profit (PLN MM) After 2 quarters of 2007/2008 the sales revenue forecast for 2007/2008 was achieved in 53. 4 % In the same period the net profit reached 61. 6 % of the annual target 22

DEVELOPMENT STRATEGY IN ACTION Development of IT hardware distribution Further expansion of the distribution centre Development of sales systems Further growth of subsidiaries ACTION Ukraina, SFERIS, A. PL Acquisition plans 23

WAREHOUSE EXPANSION The dispatch part of the warehouse will The target complex is to have be completed in June 2008, which will the following parameters: expand the Company's operating area by area 25, 000 sqm another 2, 300 sqm 35 000 pallet places The main warehouse building (the maximum order processing rate of original one) will continue to be expanded: an additional floor will 80, 000 shipments per day increase its area by 6, 000 sqm and double its efficiency In 2008 - 2010 Action plans building another such facility. The construction is going to be a threestage process. 24

LOGISTICS CENTRE A beneficial investment • An investment of value of € 7, 300, 000 • Increasing performance and the number of SKUs handled • Planned completion time: November 2008 Expected changes of the maximum daily metrics PRESENT FUTURE Change 220 0% 26 77 196% 4 000 12 000 200% No. of shipments 15 000 45 000 200% No. of inv. items 45 000 135 000 200% No. of staff Performance * No. of orders * performance = number of invoice items (lines) / number of hours of work 25

DEVELOPMENT OF SALES SYSTEMS I-Serwis English language version of that sales & communications platform implemented for export customers Webserwis A platform which integrates the sales system of ACTION with e-commerce sites of the Company's customers I-Partner An electronic online sales system developed with independent resellers in mind I-Partner provides our customers with 24/7 access to ACTION products 26

GROWTH OF SUBSIDIARIES SFERIS Quarter 2 of 2007/2008 saw the opening of 5 new shops at new locations and 5 partner shops Chain rebranding continues: the new visual identification implemented with 40 % of the shops Further shops to be opened by the end of June 2008: 15 partner shops 5 Sferis shops 27

GROWTH OF SUBSIDIARIES ACTION Ukraina • At present the SHOK and KREZ chains operate a total of 15 shops • In 2008, 3 more are planned to be opened (Zaporizhia, Vinnytsia, Donetsk) A. PL • A constant growth of the number of new customers • Growing average order value • Introducing a full range of office products • Plans to add books to product categories 28

DEVELOPMENT PROSPECTS Steady growth of the commercial offer in the nearest future by approx. 5, 000 items Further expansion of the logistics and shipping centre by increasing its area by 2, 400 sqm Focusing on export now easier thanks to the English language version of I-Serwis Participation in numerous tenders pending in 2008: Ministry of Education, ZUS (National Social Insurance Company), PZU (a major commercial insurer), Ministry of Interior and Administration 29

THANK YOU FOR YOUR ATTENTION 30