1. Directories v. Search: What is the Best Strategy? Christer Pettersson Online Manager, Search

2. September 28, 2005 Directories v. Search2 Questions… Partner with search engines? … or treat them as competitors? … or both strategies? Does unique market conditions change the approach?

3. September 28, 2005 Directories v. Search3 Eniro goes for partnership A growing search market makes place for co-existence Partnerships important to secure full distribution, and deliver the best possible user experience Partnerships will become less exclusive

4. September 28, 2005 Directories v. Search4 New common ground Traditionally – web search is search engine business & local search is YP/IYP business Search engines have identified a local potential Directory players are offering web search to users, although mainly as backfill Forms for partnerships and competition still to be set:  Access to [YP] content  Flow of traffic and flow of exposures of advertiser data  Local advertising

5. September 28, 2005 Directories v. Search5 Build on your own core strength Maintain and grow usage across all channels Compete, co-operate and co-exist with search engines Do not give up your own user position! Customers close, users closer Partner and compete! Eniro Core Value

6. September 28, 2005 Directories v. Search6 Results to date 4 500 000 4 000 000 3 500 000 3 000 000 2 500 000 2 000 000 1 500 000 1 000 000 500 000 0 Juni 2003Augusti 2003Oktober 2003December 2003Februari 2004April 2004Juni 2004Augusti 2004Oktober 2004December 2004Februari 2005April 2005 Source: Red Sheriff / Site Census The first two years of Eniro’s integrated search service

7. I’m happy to continue the discussion christer.pettersson@eniro.com