1. Copyright 2003 ECNext Stratfor and ECNext 2003 Recap and 2004 Opportunities Mike Perkins Chief Technology Officer Pam Springer Vice President, Sales Rob Reach Senior Account Executive ECNext, Inc. (614) 408-0067 January16, 2004

2. Copyright 2003 ECNext Agenda -ECNext and Stratfor 10:00-12:00 January 16, 2004 Introductions 10:00-10:10 2003 Recap and Metrics10:10-10:30 –Financial –Timeline 2004 Look Ahead10:30-11:00 –2004 Stratfor Goals & Expectations –2004 Econtent Market –2004 ECNext Solutions 2004 Stratfor/ECNext Opportunities11:00-11:30 Platform11:30-11:40 Next Steps11:40-12:00

3. Copyright 2003 ECNext Who We Are Founded in 1996 in Columbus, Ohio VC funded –Athenian Venture Partners –River Cities Capital Funds Founded as a content aggregator –Built sophisticated platform & tracking capabilities –Worked with over 500 publishers to market content Leveraged aggregator model to evolve to build customer branded e-commerce solutions ECNext provides services and technology enabling our customers to sell their valuable business information on the Web We market to companies who create and sell high-value business research, reports, news, analysis, and data

4. Copyright 2003 ECNext Benefits we provide for our Customers Generate new revenue by reaching net new Web buyers –Successfully exploit Web as new direct sales channel Broaden market reach –Tailor & size offerings to meet range of customer needs Cross-sell new buyers to other offerings –Keep your message in front of them –Bundles, promotions, incentives Increase repeat buyers –Discontinue access in a pre-defined timeframe –Increase subscription by automating renewal promotion Decrease production & distribution costs

5. Copyright 2003 ECNext Agenda -ECNext and Stratfor 10:00-12:00 January 16, 2004 Introductions 10:00-10:10 2003 Recap and Metrics10:10-10:30 –Financial –Timeline 2004 Look Ahead10:30-11:00 –2004 Stratfor Goals & Expectations –2004 Econtent Market –2004 ECNext Solutions 2004 Stratfor/ECNext Opportunities11:00-11:30 Platform11:30-11:40 Next Steps11:40-12:00

6. Copyright 2003 ECNext Current Terms Contract: –18 month term –$2,500/mo license, customer support and hosting fee –$2,500/mo for hosting former Plug-n-Pay customer database –$3.00/year for new subscriber ($.25/mo) Recent Add on (10/03 – 3/04): –$4,000/mo for 40 hours/month custom development; (5 month retainer)

7. Copyright 2003 ECNext 2003 Highlights 2003 Sales of $1.6 Million Sales Increased 400% Q3 over Q2 $372,626 Sales Increased 260% Q4 over Q3 to $972,059 October Sales were $388,997

8. Copyright 2003 ECNext Financial Results

9. Copyright 2003 ECNext Financial Results

10. Copyright 2003 ECNext Financial Results

11. Copyright 2003 ECNext Financial Results

12. Copyright 2003 ECNext Agenda -ECNext and Stratfor 10:00-12:00 January 16, 2004 Introductions 10:00-10:10 2003 Recap and Metrics10:10-10:30 –Financial –Timeline 2004 Look Ahead10:30-11:00 –2004 Stratfor Goals & Expectations –2004 Econtent Market –2004 ECNext Solutions 2004 Stratfor/ECNext Opportunities11:00-11:30 Platform11:30-11:40 Next Steps11:40-12:00

13. Copyright 2003 ECNext Timeline Monthly Support Calls

14. Copyright 2003 ECNext Timeline

15. Copyright 2003 ECNext Agenda -ECNext and Stratfor 10:00-12:00 January 16, 2004 Introductions 10:00-10:10 2003 Recap and Metrics10:10-10:30 –Financial –Timeline 2004 Look Ahead10:30-11:00 –2004 Stratfor Goals & Expectations –2004 Econtent Market –2004 ECNext Solutions 2004 Stratfor/ECNext Opportunities11:00-11:30 Platform11:30-11:40 Next Steps11:40-12:00

16. Copyright 2003 ECNext 2004 Stratfor Goals and Expectations Revenue Organization New Products Email Campaigns

17. Copyright 2003 ECNext Agenda -ECNext and Stratfor 10:00-12:00 January 16, 2004 Introductions 10:00-10:10 2003 Recap and Metrics10:10-10:30 –Financial –Timeline 2004 Look Ahead10:30-11:00 –2004 Stratfor Goals & Expectations –2004 Econtent Market –2004 ECNext Solutions 2004 Stratfor/ECNext Opportunities11:00-11:30 Platform11:30-11:40 Next Steps11:40-12:00

18. Copyright 2003 ECNext eContent Market Overview Increasing Use of the Web “Our research on the information habits of users in various functional roles and industries shows that 79 percent of users turn first to the open Web for work-related information.” –Outsell Search engines are starting point for business searches –79% of searches start here –70% of info delivered online

19. Copyright 2003 ECNext Market Overview Market Size $11B in individual business information purchases over previous 12 months –22% of buyers spent $10,000 or more –Median of $1,500 Additional $35.5B in purchases out of the departmental budget *Source: Outsell, Super I-AIM

20. Copyright 2003 ECNext Market Overview Business Drivers Fewer $ for corporate-wide information purchases –Slowing economy –Budget cuts for corporate librarians, research dept’s Fewer corporate-wide buyers –Consolidation of tier 1 companies (e.g., pharmaceutical, chemical, automotive) New markets are harder to reach –Many small, new companies Need for information not going away Individual transaction buying increasing

21. Copyright 2003 ECNext Market Overview Shifting Buyer Behavior Decentralization of Information Purchases –68% of business end-users prefer to find their own information –Only 3% will call the corporate librarian –Only 25% will visit the corporate library 51% of content purchases driven by end-user decision –Purchased information typically satisfies tactical, project-oriented need –Decisions requiring approval are typically made by a functional Director or VP Purchase Size –34% have purchase authority for $5,000 or more –Median purchase authority is $1,000 *Source: Outsell, Super I-AIM

22. Copyright 2003 ECNext How internet users find web sites Source: Dick Morris survey for iProspect

23. Copyright 2003 ECNext Search engine audience reach Source: Nielsen NetRatings for SearchEngineWatch.com * powered by Google ** powered by Inktomi

24. Copyright 2003 ECNext The search engine opportunity… A potential customer on a mission to find critical business information opens a search engine and enters key words… Your site is listed first in the results. He doesn’t know about your business, but assumes that since you are highly ranked he should learn more… He clicks the link to your site and opens directly to one of your articles– the description is on target – he clicks to buy. 40% or more of your online content sales can be driven directly from search engines.

25. Copyright 2003 ECNext Agenda -ECNext and Stratfor 10:00-12:00 January 16, 2004 Introductions 10:00-10:10 2003 Recap and Metrics10:10-10:30 –Financial –Timeline 2004 Look Ahead10:30-11:00 –2004 Stratfor Goals & Expectations –2004 Econtent Market –2004 ECNext Solutions 2004 Stratfor/ECNext Opportunities11:00-11:30 Platform11:30-11:40 Next Steps11:40-12:00

26. Copyright 2003 ECNext ECNext Solutions Beyond SEO – Content Illumination Definition of Content Illumination: SEO techniques applied to web site on a page-by-page basis (e.g. product pages) Objectives: Bring potential content buyers from search engine directly to point- of-sale –Direct potential content buyers to a relevant product page –Eliminate the need for the buyer to search site to find information –Minimize the number of clicks-to-purchase

27. Copyright 2003 ECNext Standard ECN Customer Metrics Search Engine Related Revenue 1.5% overall site conversion rate 3 x search engine site conversion rate (4.5%) Over 400% increase site traffic after 4 months (with SEO & Content Illumination programs) 50% Average Year over Year revenue growth for ECN customer Due to ECNext integrating at the Stratfor site subscription sign up page, these metrics and programs are not applicable. Hosting Stratfor content would make these available.

28. Copyright 2003 ECNext ECNext Solutions Summary Search engines are the key tool for business users to find information on the Web SEO and Content (Article) Illumination are very cost- effective tools for bringing traffic to business e-content sites Targeted Content (Article) Illumination programs help drive traffic and increase conversion rates by: –Bringing potential content buyers directly to the point-of-sale –Minimizing the number of clicks-to-purchase Adding this functionality into the Stratfor solution will drive additional sales

29. Copyright 2003 ECNext  Infrastructure Hosting, Security, Maintenance, Redundancy  Business Intelligence Test, Measure, Analyze, Report & Refine Demand Generation  Search Engine Optimization - Site optimization - Content Illumination  Email Campaigns  Affiliate Programs  Industry Links  Print Campaign Tracking  Trials Content Management  Publishing Tool  Automated Source Data Feeds  Data Formatting - Segment - Index  Outbound XML (Web Services)  Aggregator Feeds eCommerce Transactions  License Options - Pay-per-view - Subscription  Payment Options - Credit card - Pre-paid - Bill me  Promo Options - Bundling - Discounts - Cross-sell related items Tracking and Reporting  Activity Tracking - Visits / Transactions - Revenue - Cart abandons  Customer Database  Lead Database  Subscription Management  Usability Studies  Operations & Support End-user Help Desk, Credit Card Billing and Reconciliation Making eContent Work for You Additional Modules Available:  Telesales  Corporate Acct. Mgt.  Multicurrency  Personalization  Conference Sales  Ad Server Stratfor Solution (  currently utilized )

30. Copyright 2003 ECNext Agenda -ECNext and Stratfor 10:00-12:00 January 16, 2004 Introductions 10:00-10:10 2003 Recap and Metrics10:10-10:30 –Financial –Timeline 2004 Look Ahead10:30-11:00 –2004 Stratfor Goals & Expectations –2004 Econtent Market –2004 ECNext Solutions 2004 Stratfor/ECNext Opportunities11:00-11:30 Platform11:30-11:40 Next Steps11:40-12:00

31. Copyright 2003 ECNext Demand Generation & Site Optimization Search Engine Visibility Website Usability Testing & Improvement New Features Direct Marketing

32. Copyright 2003 ECNext 1. Top-level SEO Website-level visibility for relevant, frequently- used keywords phrases 2. Current event SEO Visibility to highly relevant, topical landing pages 3. Article page illumination Visibility to individual articles Search Engine Visibility Initiatives

33. Copyright 2003 ECNext Search Engine Visibility: Top-level SEO Homepage About us Current Keywords (daily searches): Strategic forecasting (2) Predictive intelligence (0) Global intelligence (10) Strategic intelligence (20) Geopolitical analysis (3) Geopolitical forecasts (0) Intelligence services (19) Geopolitical intelligence (2) Business intelligence (351) Issues intelligence (0) Intelligence briefs (0) Other Valuable Keywords: International business risk (33) International business news (171) Red = Stratfor currently ranks high Current searches: 53 Potential additional searches: 558 Note: “international” searched more heavily than “global”

34. Copyright 2003 ECNext Search Engine Visibility: Top-level SEO Keyword analysis is necessary, but not sufficient for search engine visibility Also requires: Appropriate placement of keyword phrases Ensuring page structure is search engine “crawlable” Keeping abreast of changes to each search engine’s ranking methodology

35. Copyright 2003 ECNext Search Engine Visibility: Current event SEO Landing pages quickly developed & live for breaking events -Template -“Cocked and ready” -Tailored to drive subscriptions -Pay-per-click keywords purchased to drive immediate, highly-relevant traffic

36. Copyright 2003 ECNext Search Engine Visibility: Article page illumination Unseen, intermediate landing pages for each article -SEO friendly -Keyword rich -Redirect to the Stratfor article page Experience shows this increases traffic by 4x. Article page must be optimized to convert searches into subscriptions

37. Copyright 2003 ECNext Website Usability Testing & Improvement User Testing -Obtain detailed, qualitative feedback about how to improve site Surveys -Pop-up survey to visitors when certain events occur (e.g., subscription is not completed) A/B Testing -Implement site changes, often based upon User Testing & Surveys, and quantitatively assess the impact on shopping & purchasing behavior -Live, side-by-side comparison -“let the customer decide” -E-commerce best practice

38. Copyright 2003 ECNext Website Usability Testing & Improvement: AB Testing Subscribe Now! E.g., Article Landing Page: User test feedback: shopper’s unclear how to subscribe Proposed change: Large “subscribe now!” button on article page AB test: Randomly 50% of visitors receive version A & 50% receive version B Metrics analyzed: average subscriptions started & completed per visitor

39. Copyright 2003 ECNext Website Features “My Stratfor” -Allow existing subscribers to customize their view of the Stratfor site -Organize sections based on personal relevance -E.g., Yahoo vs. My Yahoo

40. Copyright 2003 ECNext Email & Direct Marketing Types of Programs Subscriber renewal programs –Email renewal promo is built into ECNext solution Automated based on renewal date Configurable Number & timing Registration / promotion programs –Capture registrations on site –Promote subscriptions Subscriber acquisition programs –Email & DM to purchased lists –ECNext provides tracking and execution support

41. Copyright 2003 ECNext Email Marketing End-to-end Tracking Analysis & Reports Track program metrics - Email opens - Site traffic - New subscribers - Subscriber retention - Revenue Test programs - List performance - Promo offers - Creative & message Execution Set tracking codes Stage creative Manage customer list Manage mailing list - In-house list - Rented lists Send emails Process opt-outs & bounce backs Program Planning Plan program - Target audience - Define offers - Creative Develop creative - Message - Design Acquire lists - Research - Negotiate Project management ECNext’s subscriber acquisition program support Stratfor’s marketing activities

42. Copyright 2003 ECNext Opportunities SEO & Article Illumination eMail Campaigns Ad Servers XML Feeds Personalization by end user Tracking, Reporting & Monitoring

43. Copyright 2003 ECNext Agenda -ECNext and Stratfor 10:00-12:00 January 16, 2004 Introductions 10:00-10:10 2003 Recap and Metrics10:10-10:30 –Financial –Timeline 2004 Look Ahead10:30-11:00 –2004 Stratfor Goals & Expectations –2004 Econtent Market –2004 ECNext Solutions 2004 Stratfor/ECNext Opportunities11:00-11:30 Platform11:30-11:40 Next Steps11:40-12:00