Financial Results for Quarter 4 2007/2008

1. Financial Results for Quarter 4 2007/2008

2. KEY EVENTS IN Q4 • 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)

3. RESULTS OF QUARTER 4 Gross margin (%) Sales revenue (PLN M) • The value of sales revenue rose by 37.6% as compared to Q4 2006/2007 • - 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

4. RESULTS OF QUARTER 4 Net Profit (PLN M) Operating Profit (PLN M) • 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%

5. FINANCIAL RATIOS ROA (%*) ROE (%*) • 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

6. DETAILED FINANCIAL DATA

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

8. FACTORS WHICH CREATE THE RESULT • 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 to82% 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)

9. IMPLEMENTING THE STRATEGY OF GROWTH • Further development of subsidiaries • Action Ukraina /Ukraine/ • another SHOCK shop was opened in Zaporozhe on 28 June 2008 • - area of 2000 sqm • another 2 shops in Vinnytsia and Donetsk are planned to be opened • by the end of 2009 • 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

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

11. THANK YOU FOR YOUR ATTENTION