1. 1 January – September 2006 Observer AB

2. 2 Highlights January - September 2006 Revised strategy and new financial targets Revenue up 11 % and EBIT* up 31 % Strong growth in integrated services with value added analyzed information Growth in international client segment Restructurings in the Nordic & Baltic region proceed according to plan On-going restructuring in the UK Positive development in the US, Canada, Germany and Portugal * Excluding write-down goodwill and restructuring expenses

3. 3 Market Generally good market conditions New media and channels create opportunities for service development –Crises management through blog monitoring –New channels, primarily within broadcast monitoring Growing importance of reputation and brands drive demand Rising demand for integrated services with value-added analyzed information Growing demand within international client segment Copy right issues change market prerequisites Tough competition in all service areas

4. 4 January – September 2006 Amounts in SEK millionJanuary – SeptemberJuly - September Revenue1 429 (1 287)455 (431) Organic growth4 % (1)4 % (3) EBIT*172 (131)57 (45) Operating margin*12 % (10)13 % (10) Operating cash flow156 (89)54 (13) * excl. write-down goodwill and restructuring expenses

5. 5 Organic Growth & Operating Margin* (rolling 12 months) * Excluding write-down goodwill and restructuring expenses

6. 6 Operating Cash Flow and EBIT * (rolling 12 months) * EBIT before write down of goodwill and restructuring costs Amounts in SEK million

7. 7 Balance Sheet September 30, 2006 Working capital: -76 Equity / Assets ratio: 52 % Debt / Equity ratio: 49 % Net debt: 797 Financial liabilities 961 Operating liabilities 429 Equity 1 640 Financial Assets, 164 Current receivables, 353 Other fixed assets, 281 Goodwill 2 303 Amounts in SEK million

8. 8 The Regions North America Improved earnings Organic growth amounted to 8 % (Q3: 5 %) Healthy demand for integrated services Strong market for broadcast monitoring Nordic & Baltic Improved but still weak earnings Organic growth amounted to 5 % (Q3: 7 %) Strong growth in evaluation services Positive development in the large client segment Rest of Europe Lower earnings Organic growth amounted to 0 % (Q3: -1 %) Positive development in Germany and Portugal Weak development in UK and Ireland

9. 9 Changes and development Revised strategy and new financial targets Digitalization of production processes Restructuring - estimated savings: SEK 130 million, costs: SEK 120 million Expansion in geographic markets with high shareholder ROI Centralization for increased efficiency and profitability: Sourcing and quality management International client processes

10. 10 Observer today Strengths Global market leader Unparalleled offering – breadth and depth Large client base Prime position in North America – the leading media market in the world Strong cash flow Opportunities Strong growth in international client segment Strong position within our client segment Effects from initiated cost reduction program Increased synergies within and between regions Expansions to new markets Observer is well positioned to capitalize on a growing market.

11. 11