September 2006 Lynge Blak Chairman of IIRF 1 Welcome to The IIRF 2nd Global Summit Warsaw 23 September 2006 Lynge Blak Chairman & CEO of IIRF THE GLOBAL FEDERATION OF NATIONAL IR SOCIETIES RUN BY IR PROFESSIONALS - FOR IR PROFESSIONALS

September 2006 Lynge Blak Chairman of IIRF 2 IIRF in Brief

September 2006 Lynge Blak Chairman of IIRF 3 What is IIRF? “ The International Investor Relation Fedderation (IIRF) is a co-operative organization established in 1990 to link the world ’ s national investor relations societies ”. “ The IIRF is not an organization for individual personal or company members ”. IIRF represent 25 global member societies –  Who in total represent corporate members and listed companies and  Investor Relations consultants and service providers  Each member society represent in average 80% of their national market capital

September 2006 Lynge Blak Chairman of IIRF beginning of big takeover boom in US - first full-time IRO in US (General Electric) Margaret Thatcher removes exchange controls - 25% of UK funds go overseas in first 12 months - first full-time IRO in UK (BOC) IIRF founded by US, UK, French and Danish IR societies - First international IR conference (London) First IIRF website created IIRF makes fundamental legal and operational changes First IIRF research project (Transparency of ownership) Public affairs committee formed - iR Global League initiated - First Global Summit meeting Introduction on the “IIRF Strategy 2006 Project” The birth of the IIRF

September 2006 Lynge Blak Chairman of IIRF 5 The growth of IR Denmark France UK USA Austria Belgium Denmark Finland France Germany Italy Netherlands Spain Sweden Switzerland UK Canada USA Japan Austria Belgium Denmark Finland France Germany Italy Netherlands Norway Spain Sweden Switzerland UK Brazil Canada USA Japan Korea Austria Belgium Denmark Finland France Germany Italy Netherlands Norway Spain Sweden Switzerland X 2 UK Brazil Canada Mexico USA Australia Japan Korea Bulgaria Greece Poland Russia

September 2006 Lynge Blak Chairman of IIRF 6 The IIRF Objectives  To promote the recognition of investor relations and encourage the formation of national investor relations societies in all countries with active securities industries;  To promote the highest standards of professional practice worldwide and provide a forum for the exchange of investor relations best practice, experience and ideas;  To collect and circulate information important to the practice of international investor relations and liaise with governmental, regulatory and professional bodies on international issues  To encourage co-operation and sharing of resources between member societies and provide additional services which meet their common needs

September 2006 Lynge Blak Chairman of IIRF 7 Organisation Governing Council Representatives of all 25 members Executive Committee Lynge Blak (DIRF - Denmark), Chairman Nicole Micheletti (CLIFF - France), Deputy Chairman Annegien Blokpoel (NEVIR) - Netherlands), Treasurer Henry Raschen (UK), Company Secretary Beth Carty (NIRI – USA) Conference Management Committee New Members Committee Professional & Regulatory Affairs Committee Member Liaison Committee Conference Project group Round Table Project group Research Project group Education & Training Project group Website Development Project group Convergence Committee

September 2006 Lynge Blak Chairman of IIRF 8 IIRF taking part in shaping the IR environment

September 2006 Lynge Blak Chairman of IIRF 9 Investor Relations going forward The future challenges for the Investor Relations Officer: International accounting / reporting / disclosure standards Ownership & voting transparency Corporate governance, Activism Sustainability / CSR New IR-technologies and new ways to communicate

September 2006 Lynge Blak Chairman of IIRF 10 Action plan to shape the IR development If the Investor Relations community want future influence over the regulatory changes  IIRF and its members need to: Pool more of our societies’ resources Extend our resources through commercial partnerships Share our knowledge / experience more effectively Increase our numbers and improve our professionalism Form relationships with other influential bodies Join discussions on issues that matter to us Be well educated and trained for the coming challenges

September 2006 Lynge Blak Chairman of IIRF 11 IIRF Going Forward General Manager function Member services – diary, directories, shared services Committees / projects Lobbying / closer relationships with global professional bodies Marketing of IIRF / Communication with members and media / peers Establishment of Executive Advisory Group Rep. from Governing Council, Universities, suppliers, industry experts, ”Friends of IIRF” Governing Council meeting in Paris 12 December 2006 Afternoon meeting / conference call and dinner with CLIFF Attending CLIFF / Euronext seminar on the 13 Dec Succession plan for the Executive Committee

September 2006 Lynge Blak Chairman of IIRF 12 Thank you Q & A