Financial Results for Quarter /2008

increasing the forecast financial results for financial year 2007/2008 and their implementation making the financial year equal to the calendar year (resolution of EGMS) executing the tender for MEN which the Company won - 37,000 computers and 3,000 servers were manufactured and delivered in 6 weeks completing the 1st batch of the order for ZUS for delivery of 5,000 computers concluding a distribution agreement with Sony Poland to distribute VAIO notebooks entering into agreements concerning authorised distribution of household appliances and consumer electronics goods: - Panasonic - Horn (distributor of) Denon and Alpine brands - Jura – a Swiss manufacturer of coffee makers opening of another SHOCK chain store in Ukraine (Zaporozhe) KEY EVENTS IN Q4 2

RESULTS OF QUARTER 4 3 The value of sales revenue rose by 37.6% as compared to Q4 2006/ with a concurrent drop in value of the PLN/USD exchange rate of 24.8 % July on July - which means an increase in sales expressed in USD by 83.0% - excluding tenders, distribution dynamics came to 16.3% - and expressed in USD 54.8% Gross margin increased as compared to Q4 2006/2007 by 0.49 pp Sales revenue (PLN M) Gross margin (%)

RESULTS OF QUARTER 4 4 Operating profit increased as compared to Q4 2006/2007 by 37.2% Net profit rose as compared to the respective period of the previous year by 4.5% Excluding the results of a one-off sale transaction of a real property in Wrocław from Q4 2006/2007 – the net profit increased by 102% Operating Profit (PLN M) Net Profit (PLN M)

FINANCIAL RATIOS 5 Return on Equity increased by 3.7 pp Return on Assets increased by 0.54 pp * Ratios calculated on the basis of the net profit attained in 4 previous quarters ROE (%*) ROA (%*)

DETAILED FINANCIAL DATA 6 [PLN M] Q4 2006/2007 Q Change Q /2007 Q Change Sales revenue % % Gross sales revenue % % Gross sales margin7.57%8.06%0.49 pp6.57%7.90%1.33 pp Cost of sales and marketing % % Related to revenue4.96%5.69%0.73 pp4.39%4.88%0.49 pp General administrative costs % % Related to revenue1.86%1.45% pp 1.25%1.56%0.31 pp Balance of remaining revenue and operating costs % % Operating result % % Net financial costs % % Net result % % Net result profitability1.92%1.46% pp 1.23%1.44%0.21 pp

IMPLEMENTATION OF FINANCIAL FORECASTS Sales revenue (PLN M) Net Profit (PLN M) The projected sales targets were met in 99.9% The projected net result was attained in 100.6%

The effectiveness of sales and logistics increased: The number of customers served rose by 11% as compared to Q4 of the previous year (on average 9,062 customers per quarter) The number of products offered by ACTION came to 18,096 items The number of invoice items increased by 30% as compared to quarter 4 of the previous year (on average 502,511 items per month) 88% of sales transactions were executed online in comparison to 82% in Q4 of last year There were over 4.5 mln visits to I-serwis website descriptions monthly The number of packages dispatched from the warehouse rose in Q4 of this year by 61.6% (on average 115,983 items per month) FACTORS WHICH CREATE THE RESULT 8

Further development of subsidiaries Action Ukraina /Ukraine/ another SHOCK shop was opened in Zaporozhe on 28 June area of 2000 sqm another 2 shops in Vinnytsia and Donetsk are planned to be opened by the end of SFERIS re-branding of the chain completed in 80% rental agreement concluded for another 5 locations commercial activity on B2B market commenced 15%-increase in sales in base shops 8 new shops planned to be opened in the nearest future 20 partner shops to be included in the chain by the end of the year IMPLEMENTING THE STRATEGY OF GROWTH 9

Development of private brands Participation in the execution of foreign tenders Development of logistics Related AV appliances markets Market consolidation STRATEGY FOR THE FOLLOWING YEARS 10

THANK YOU FOR YOUR ATTENTION 11