Welcome to The IIRF 2nd Global Summit Warsaw 23 September 2006 Lynge Blak Chairman & CEO of IIRF

1. THE GLOBAL FEDERATION OF NATIONAL IR SOCIETIES RUN BY IR PROFESSIONALS - FOR IR PROFESSIONALS Welcome toThe IIRF 2nd Global SummitWarsaw 23 September 2006 Lynge Blak Chairman & CEO of IIRF Lynge Blak Chairman of IIRF

2. IIRF in Brief Lynge Blak Chairman of IIRF

3. “The International Investor Relation Fedderation (IIRF) is a co-operative organization established in 1990 to link the world’s national investor relations societies”. “The IIRF is not an organization for individual personal or company members”. IIRF represent 25 global member societies – Who in total represent 7.700 corporate members and 5.500 listed companies and 1.300 Investor Relations consultants and service providers Each member society represent in average 80% of their national market capital What is IIRF? www.iirf.org Lynge Blak Chairman of IIRF

4. 1969 - beginning of big takeover boom in US - first full-time IRO in US (General Electric) 1979 - Margaret Thatcher removes exchange controls - 25% of UK funds go overseas in first 12 months - first full-time IRO in UK (BOC) 1989 - IIRF founded by US, UK, French and Danish IR societies - First international IR conference (London) 1999 - First IIRF website created 1999-03 IIRF makes fundamental legal and operational changes 2003 - First IIRF research project (Transparency of ownership) 2005 - Public affairs committee formed - iR Global League initiated - First Global Summit meeting 2006 - Introduction on the “IIRF Strategy 2006 Project” The birth of the IIRF Lynge Blak Chairman of IIRF

5. The growth of IR 25 Australia Japan Korea Brazil Canada Mexico USA 18 Japan Korea Bulgaria Greece Poland Russia 15 Brazil Canada USA Japan Canada USA Austria Belgium Denmark Finland France Germany Italy Netherlands Norway Spain Sweden Switzerland X 2 UK Austria Belgium Denmark Finland France Germany Italy Netherlands Norway Spain Sweden Switzerland UK Austria Belgium Denmark Finland France Germany Italy Netherlands Spain Sweden Switzerland UK 4 USA Denmark France UK Lynge Blak Chairman of IIRF

6. To promote the recognition of investor relations and encourage the formation of national investor relations societies in all countries with active securities industries; To promote the highest standards of professional practice worldwide and provide a forum for the exchange of investor relations best practice, experience and ideas; To collect and circulate information important to the practice of international investor relations and liaise with governmental, regulatory and professional bodies on international issues To encourage co-operation and sharing of resources between member societies and provide additional services which meet their common needs The IIRF Objectives Lynge Blak Chairman of IIRF

7. Organisation Governing Council Representatives of all 25 members Executive Committee Lynge Blak (DIRF - Denmark), Chairman Nicole Micheletti (CLIFF - France), Deputy Chairman Annegien Blokpoel (NEVIR) - Netherlands), Treasurer Henry Raschen (UK), Company Secretary Beth Carty (NIRI – USA) New Members Committee Convergence Committee Professional & Regulatory Affairs Committee Conference Management Committee Member Liaison Committee Conference Project group Round Table Project group Research Project group Education & Training Project group Website Development Project group Lynge Blak Chairman of IIRF

8. IIRF taking part in shaping the IR environment Lynge Blak Chairman of IIRF

9. The future challenges for the Investor Relations Officer: International accounting / reporting / disclosure standards Ownership & voting transparency Corporate governance, Activism Sustainability / CSR New IR-technologies and new ways to communicate Investor Relations going forward Lynge Blak Chairman of IIRF

10. If the Investor Relations community want future influence over the regulatory changes IIRF and its members need to: Pool more of our societies’ resources Extend our resources through commercial partnerships Share our knowledge / experience more effectively Increase our numbers and improve our professionalism Form relationships with other influential bodies Join discussions on issues that matter to us Be well educated and trained for the coming challenges Action plan to shape the IR development Lynge Blak Chairman of IIRF

11. General Manager function Member services – diary, directories, shared services Committees / projects Lobbying / closer relationships with global professional bodies Marketing of IIRF / Communication with members and media / peers Establishment of Executive Advisory Group Rep. from Governing Council, Universities, suppliers, industry experts, ”Friends of IIRF” Governing Council meeting in Paris 12 December 2006 Afternoon meeting / conference call and dinner with CLIFF Attending CLIFF / Euronext seminar on the 13 Dec. 2006 Succession plan for the Executive Committee IIRF Going Forward Lynge Blak Chairman of IIRF

12. Thank you Q & A Lynge Blak Chairman of IIRF