1. Observer AB January – June 2006

2. Highlights Q2 2006 • Revenue up 11 % and EBIT* up 41 % • Strong growth in value added, analyzed information • Growth in international client segment • Restructurings in the Nordic & Baltic region, the UK and HQ proceed according to plan • Positive development in the US, Canada, Germany and Portugal * Excluding write-down, goodwill and restructuring expenses

3. January – June 2006

4. Market • Generally good market conditions • Rising demand for value-added analyzed information • Opportunity to gradually increase fixed revenue North America • Healthy demand for integrated services • Strong market for broadcast monitoring Nordic & Baltic • Strong growth in evaluation services • Positive development in the international client segment Rest of Europe • Positive development in Germany and Portugal • Weak development in Monitoring in the UK and Ireland

5. % 2005 Q1-Q2 2006 Q1-Q2 The Regions %

6. Changes and development • Business model towards more integrated and international offering • Digitalization of production processes • Restructuring - estimated savings: SEK 130 million, costs: SEK 120 million • Nordic & Baltic: • Functional organization • Digitalization of the monitoring process and integrated offering • Reduced number of production sites • Rest of Europe: • Establish new sales process in UK & Ireland • Further development of the digital production process • Organizational and management changes • North America • Successful integration of Multivision • Synergies with US operations enhance profit and growth in Canada

7. Organic Growth & Operating Margin (rolling 12 months)

8. Regions Q2 2006 Organic growth and EBIT margin by region (excl. write-down, goodwill)

9. Operating cash flow & EBITA / EBIT

10. Goodwill Q2 2006 223 Write-down (Q1) (M SEK) UK 405 Ireland 41 Norway 23 Baltics 0.1 Total 469 Exchange rate effects in Q2 -147 1101 751 287 SEK 2 273 million

11. Balance Sheet June 30, 2006 Financial Assets, 130 Current receivables, 406 Other fixed assets, 276 Goodwill 2 273 Financial liabilities 936 Operating liabilities 541 Equity 1 608 Working capital: - 63 Equity / Assets ratio: 52 % Debt / Equity ratio: 50 % Amounts in SEK million

12. A changing market • Growing international sales • Growing demand for Evaluate services • Increasing share of revenue from portals and software • Outsourcing and off-shoring • Copy right agreements • Partnerships, joint ventures, acquisitions

13. Focus 2006 • Integrated and International offering • Integration, knowledge sharing and best practice • Observer Nordic & UK

14. Highlights Q2 2006 • Revenue up 11 % and EBIT* up 41 % • Strong growth in value added, analyzed information • Growth in international client segment • Restructurings in the Nordic & Baltic region, the UK and HQ proceed according to plan • Positive development in the US, Canada, Germany and Portugal * Excluding write-down, goodwill and restructuring expenses