Financial reporting and how does the issuer feel about it? SAF Tehnika A/S Financial reporting and how does the issuer feel about it? Aleksis Orlovs CFO September 13, 2005

SAF Tehnika - public joint-stock company designer, manufacturer and distributor of telecommunications and data transmission equipment – digital microwave radio systems.

Leading high-tech enterprise in the Baltics SAF Tehnika is founded in 1999, have been growing from 10+ to 130 employees in 5 years ISO 9002 certified Exposed to high-growth global telecom markets in Asia, South America, Africa, CIS and CEE Public company, traded on the official list of the RSE, capitalization over EUR 50m The story how it was founded. Poor engineer which lived over the river and needed telephone extender. Application to telecom – beginning after 20 years the everything started Produce Radio link – radios Due to the unique approach and price advantages could target high growing markets The only profitable European telecommunications Standard Institute

Before the IPO As a Microlink part – some reporting procedures established No Disclosure practices Reluctance to disclose data to competition Not in place necessary bureaucracy and procedures Microlink as a major shareholder, whom belonged more then 49% need exit, as venture capital funds have they maturity. Shareholders need to exit. Management was pretty reluctant to that. As actually we could finance acquisition also from our own money. But with time we understood that for public companies trust and credibility is much higher then for non public – this also was a reason

After the IPO Time consuming reporting and always changing standards... Enhanced credibility and trust from international suppliers, partners and customers Increased brand awareness and implementation of best practices Better and easier communication with investors and other stake holders

Never give up!

SAF Tehnika A/S Thank you! Aleksis.Orlovs@saftehnika.com