1. France Telecom : Content Everywhere Stéfane France SVP TV International Paris November 23 rd 2007

2. Content everywhere  Market trends and strategy  TV/VOD on ADSL  TV/VOD on Mobile  Orange sport, a new multi device service  Rewind TV

3. Market evolution is presenting us new opportunities consumers are increasingly demanding instant access to digital media through multiple terminals communications devices are becoming entertainment devices, and vice versa fixed and mobile broadband is providing speedier and more reliable access to digital media user generated content is becoming increasingly popular Content providers are looking for new channels of distribution and revenue streams revenues for content are diversifying (direct pay, airtime, advertising)

4. Key trends in media and content Fragmentation of media Growing personalisation of media Traditional business models are being challenged Source: eTforecast, Think research, Bear Stearns 2006 Internet challenges passive traditional advertising Multiplication of access platforms # households (k) in Western Europe

5. TV PC mobile stand-alone profitability acquisition & retention of customers enrichment of our marketing and communications plans Orange strategy is “content everywhere”

6. Our vision for mass market TV / VOD : cross-platform content availability widescreen offer  +200 TV channels  free & Pay TV  catch-up TV  free VOD, VOD (rental) & SVOD  PVR  HDTV  multi-room offer with extended features  free TV channels  free VOD  VOD (rental)  Electronic Sell Thru -DVD on- line retail (EST)  PVR personal TV  TV channels incl. made for mobile  VOD Mobile cuts and longer formats  SVOD  PVR to go  2.5G, 3G & 3.G+/DVB-H/ Wifi,  PVR optimised for player & screen  free TV channels  VOD (rental)  EST  PVR to go  Wifi / 3.5G family consumption individual consumption  underlying Orange security systems TV PC mobile phone portable media player

7. Orange TV on fix line (ADSL)

8. Customers and partners benefit of Orange TV offer on fix line Partner Benefits Customer Benefits  Simple access to digital TV (free and premium TV) and VOD  Simple access to HD programming  On demand access to TV and VOD programs  An all-in-one packaged TV + Internet + telephony offering  Easiness of connection vs. satellite or cable  All in one bill  Orange brand trust and quality of service  Extended reach of TV coverage  Creation of on demand services dedicated to the channel (TVOD)  Extra money for content owners (movies, music, series) through VOD and SVOD services  Cross marketing for acquisition and retention of subscribers with partners (Canal+, Cyfra+, etc)  Additional potential for ad revenues trough profiling of audience (TV / VOD)  Possibility to launch new channels with limited transmission costs

9. Orange TV offer is leading the market in France Started in 2003 Available potentially to 12 millions households, First to launch MPEG4 transmission and HD channels on ADSL in the world, Orange rebranding since june 2006, Integration of the decoder in the internet basic subscription since june 2006. Basic TV bouquet with 55 TV channels and exclusive events Premium offer (Canal+/Canalsat) The richest Video on Demand offer Rights for 2500 movies and 5000 programs. Personal Video Recorder HDTV channels (TF1, Canal+, NRJ12, Luxe TV, Arte) Exclusive Soccer offering (Foot+) Orange TV bouquet SVOD services (Music, Kids, Series)

10. Orange TV : an easy way to install IPTV at home 1. Customer has Livebox set-up and gets Orange TV Kit. 2. Customer Plugs in cable to livebox and other end into their “TV Plug” 3. Data is transferred across the house/ apartment ring main 4. Customer Plugs cable into another “TV Plug” and the other end in their new STB. They use the supplied SCART cable to link their STB to their TV Customer PC Location Customer TV Location Ethernet link Home power network AV link TV decoder Live Box

11. Orange TV : an attractive price positioning Packaged offer 29,90 € 8 Mb internet access Free TV decoder Orange Free bouquet (50 TV channels and services) Access to premium content (Canal+ CanalSat) Access to VOD Livebox 3€ VoIP 10€

12. Channels included in the Orange TV basic pack General / Entertainment International Information Music Other Mosa ique 24/24 Video 24/24 abo DTT France 3 Régions 57channels in SD (incl 1 in regional DTT) + 5 HD channels HD Practical Discovery & Society Youth Sports en clair OL à la demande Service interactif

13. mes chaînes ciné XXL ( / Zik) Orange TV premium packs mes chaînes thématiques mes chaînes chinoises Nat Geo HD mes chaînes arabes 9,90 € / month 5,90 € / month 4,90 € / month 6,90 € / month Montly prices excluding promotions

14. Orange TV (ADSL) in France is growing fast, with further growth potential

15. On Air France Spain Poland Mauritius Senegal Coming Soon UK (2007) Orange TV roll out on DSL in FT territories FRANCE POLAND SPAIN UK Mauritius Senegal

16. Orange TV on mobile

17. Customers and partners benefit of Orange TV offer on mobile Partner Benefits Customer Benefits  Instant access to news and entertainment TV and video (music videos, humour, charm) on the move  Individual consumption at home  Access to on demand series (Plus belle la vie in France, Magda M in Poland, Los Super Villanos in Spain)  Increase the TV viewing by catching viewers outside the house  Develop new formats (loops)  Potential for new interactive services  Potential to launch new channels with limited transmission costs  Develop on demand services

18. Orange TV : simple access to TV/VOD from mobile portal & devices Handset interface: Button and menu  Orange World portal

19. Mobile TV also offered in Jordan Dominican Republic Egyptl leveraging our experience in France and benefiting from scale effects across our footprint 1 Standard Definition TV (QCIF, 176*144) 2 High Definition TV (QVGA, 320*240) Note : all subscriber data are as of end of 2006 UK TVSD 1 (H2 2005) 931k mobile broadband customers FRANCE TVSD 1 (H2 2004) TVHD 2 (H2 2006) 3,595k mobile broadband customers SPAIN TVSD 1 (H2 2006) TVHD (2H07) 422k mobile broadband customers POLAND TVSD 1 (H1 2006) 81k mobile broadband customers NL + BE TVSD 1 (H2 2006) 71k mobile broadband customers SWITZERLAN D TVSD 1 (H2 2005) 71k mobile broadband customers ROMANIA TVSD 1 (H1 2006) 383k mobile broadband customers SLOVAKI A TVSD 1 (H1 2006) 214k mobile broadband customers  Today, 8.94 million Orange moble broandband customers (1H07) MOLDOVA TVSD 1 (H1 2007)

20. Orange France offers unlimited mobile TV & VOD bundles  HD mobile tv is now included in TV options (except Club & Sport options) Option TV (6 €/month) Unlimited access to 20 TV channels Unlimited access to Video on demand Option Total TV (10 €/month) Unlimited access to 60+ channels including more than 30 specialized channels Unlimited access to Video on demand Option TV - Surf (12€/month) 20 TV channels VOD Surf on all sites in Orange World Music option (6 €/month) Radios, Music music TV channels, video clips 1 million titles to discover on your mobile Sports option (9 €/month) The big sporting events – live coverage and images Sports TV channels Sports news continually updated Club news Option TV & Music & Surf (12€/month) Advantageous pricing for your favorite music channels Save 6€

21. Orange TV offer on mobile is leading the market NewsSportsCinema People/TV Humour Music Live Cam CartoonsAdult Exclusivities (Ligue 1 Orange, Top 14, Tour de France, Jonny Hallyday, Roland Garros, Madonna, King Kong, etc.) 60 TV programs 3000 Videos

22. Orange TV mobile : the key success factors A wide range of handsets with embedded packet video player in “operator pack”; A national service coverage (93% coverage); A combination of new technologies that will considerably improve the TV experience by 2007 (HSDPA, H264 encoding, fast channel switching) New Attractive pricing that encourages customers to test and come to intensive usage : A full image experience with a rich media technology improving zapping and real time TV A rich offer of TV channels and VOD 3,5 millions of compatible handsets at the end of 2006 51 millions VOD and TV sessions in 2006. Networks Wide coverage with good quality indoor Handsets Large range of TV ready handsets Content Diversity and exclusivity for live TV and VOD Pricing Unlimited packages

23. Orange has launched Mobile TV across its footprint France: SD- 2H04, HD- 2H06 UK: 2H05 Switzerland: 2H05 Poland: 1H06 Spain: 2H06, HD 2H07 Netherlands: 2H06 Belgium: 2H06 Romania: 1H06 Slovakia: 1H06 Moldova: 1H07 Also, Egypt, Jordan, Dominican Republic

24. flowInteractive service event channels Orange Sports = 1 flow + interactive service + event channels

25. Orange sports, a cross platform strategy flow interactive service the main flow is available on TV, the Internet and mobile the interactive service is available on TV

26. Orange sport : not just a regular channel, but also an interactive service direct access with the remote control display: The flow is displayed in a box, but can be viewed full screen up-to-date interactive links can lead the user to videos, programs…

27. How will the demand of consumers evolve in the next years? They will increasingly be offered to take control on their own viewing, listening and playing of their content. Eg. podcasting, PVR, Catch-up TV They will be offered more choice: (1) of channels, VOD, music and games content and (2) how they consume the content (TVOD, SVOD,etc..) They will increasingly be offered flexibility to enjoy content in different places in the home, and individually through the use of portable devices: Place-shifting. (My room, my terminal vs. family viewing in the living room) They will expect content to be of high quality: HDTV & Surround Sound 5.1 Even if piracy decreases, they will increasingly expect an amount of premium content for free (funded through advertising, hardware or access). They will consume all sorts of content including user-generated and distributed content (creating content in whatever form on whatever scale)

28. Thank you Q&A