1. 1 A presentation to: Wi-Fi Business Development Summit

2. 2 Convergence winners and losers - who’s where on the hype curve? Peter Gardner Global Sector Head, Communications, 3i Group The WiFi Business Development Summit Milan, Wednesday 26 October 2005

3. 3 A presentation to: Wi-Fi Business Development Summit Agenda  Introduction to 3i  Convergence  The Hype Cycle  Who is doing what (selection)  Wifi  VoIP  Location  Broadband  Broadcast

4. 4 A presentation to: Wi-Fi Business Development Summit 3i – the facts International scale and reputation As at 31 March 2005  A world-leader in private equity and venture capital  Established for 60 years  FTSE 100 company valued at €6 billion  14,000 investments since 1946 and 1,000 IPOs  Over 500 trade sales and 83 IPOs in the past 5 years  Over 250 market-facing investment professionals  Proven international, cross-border offer

5. 5 A presentation to: Wi-Fi Business Development Summit Venture capital: investment criteria  Investment range: €1.5 - €40 million  High quality founders and management team  Differentiated technology or service proposition  Clear attainable market proposition  Significant growth potential  Clear opportunity for 3i to add value  Clear opportunity for realisation of value – sale or float  Venture capital team focuses on:  Communications  Software  Healthcare  Electronics, semiconductors and advanced technologies

6. 6 A presentation to: Wi-Fi Business Development Summit US UK ASIA NORDIC Jarkko Virtanen Kimmo Korpela Vesa Sadeharju Ere Kariola Cynthia Ng Robin Murray David Aslin Mike Reid Jean-David Chamboredon Achim Lederle Ian Lobley C. EUROPE GLOBAL Peter Gardner Krishna VisvanathanMikko Suonenlahti

7. 7 A presentation to: Wi-Fi Business Development Summit Convergence Wireles s Fixed Wirelin e Broadca st Person / Machine Voice Mobile

8. 8 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Emerging technology Sorting the problems Problems sorted now for execution Mature technology and businesses See www.gartner.com Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility Key: Time to Plateau Less than two years Two to five years Five to 10 years More than 10 years

9. 9 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi

10. 10 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots

11. 11 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP

12. 12 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN

13. 13 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones VoWLAN

14. 14 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN

15. 15 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications

16. 16 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology

17. 17 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones

18. 18 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones WCDMA / UMTS

19. 19 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones WCDMA / UMTS HSUPA HSDPA

20. 20 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones WCDMA / UMTS HSUPA HSDPA

21. 21 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones WCDMA / UMTS HSUPA HSDPA 1x EvDO 1x EvDO Rev A

22. 22 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones WCDMA / UMTS HSUPA HSDPA 1x EvDO 1x EvDO Rev A 802.16d WIMAX

23. 23 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones WCDMA / UMTS HSUPA HSDPA 1x EvDO 1x EvDO Rev A 802.16d WIMAX 802.16e WIMAX

24. 24 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones WCDMA / UMTS HSUPA HSDPA 1x EvDO 1x EvDO Rev A 802.16d WIMAX 802.16e WIMAX Mobile TV Streaming

25. 25 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP VoWLAN Phones SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services Visibility VoWLAN Phones WCDMA / UMTS HSUPA HSDPA 1x EvDO 1x EvDO Rev A 802.16d WIMAX 802.16e WIMAX Mobile TV Streaming Mobile TV Broadcast

26. 26 A presentation to: Wi-Fi Business Development Summit Source: Gartner 2004-5 Technology Trigger Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Maturity Visibility Key: Time to Plateau Less than two years Two to five years Five to 10 years More than 10 years 802.11a/g Wi-Fi Wi-Fi Hotspots VoIP SIP Based Push to Talk VoWLAN Location Aware Applications Location Aware Technology Location Aware Services VoWLAN Phones WCDMA / UMTS HSUPA HSDPA 1x EvDO 1x EvDO Rev A 802.16d WIMAX 802.16e WIMAX Mobile TV Broadcast Mobile TV Streaming

27. 27 A presentation to: Wi-Fi Business Development Summit

28. 28 A presentation to: Wi-Fi Business Development Summit

29. 29 thank you For further information please visit: www.3i.com