1. ©Deloitte 2007

2. 2 Discussion Agenda 1. Results – the Deloitte “beursbarometer” 2. The “new” order - Stock Exchanges 3. Facts and Vision

3. ©Deloitte 2007 3 Results: Deloitte’s Annual BeursBarometer - 2007

4. ©Deloitte 2007 Results: Deloitte’s Annual BeursBarometer - 2007 4

5. ©Deloitte 2007 5 Results: Deloitte’s Annual BeursBarometer - 2007 Outcome: Welcome of the virtual stock exchange Power to shareholders Current business climate in The Netherlands Governance structure and Directors’ compensation ‘Room for improvement’ ©Deloitte 2007

6. 6 The New Order - Stock Exchanges Equity markets Private equity and hedge funds Developments Consolidation trading rooms  electronic trading Markets in Financial Instruments Directive (MIFID) Emerged markets and products ‘The successful sieze the opportunities

7. ©Deloitte 2007 7 Conclusions FactVision Euronext Amsterdam lags other markets in net IPOs Banks and regulators need to stand-up Economic climate not attractive for multinationals Teaming and winning proposition Credit crunch is in process and at the outset manageable Lock-in your finacning needs New order for stock exchanges Increase in competition and opportunity

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