1. 365 hf. Investors Presentation Second Quarter 2007

2. Media Entertainment

3. Sales during the period amounted to ISK 5,495 million and increased by 2.4% from the same period 2006 Pro forma sales increased by 9.1% from the previous year Earning before interests, taxes, depreciation and amotization (EBITDA) amounted to ISK 413 million compared to ISK 119 million in the same period 2006 Net finance cost amounted to ISK 170 million, including a foreign exchange gain of ISK 268 million Cash and cash equivalents and market securities amounted to ISK 733 million at the end of the period Equity ratio was 35.3% and Current ratio was 1.08 Acquisition of operating assets amounted to ISK 151 million Main results for the first six months of year 2007

4. Sales during the period amounted to ISK 2,814 million and increased by 1.6% from the same period in 2006 Pro forma sales increased by 8.6% from the previous year EBITDA amounted to ISK 274 million compared to ISK 195 million in Q2 in year 2006 EBITDA ratio was 9.7% compared to 7.0% the previous year Net financial expenses amounted to ISK 163 million including net foreign exchange gain of ISK 170 million Interest expense increased by ISK 136 million, mainly due to higher inflation and refinancing costs The company’s media section generated good results and was slightly above expectations. The entertainment section was below the management’s expectations because of Sagafilm’s results Main results for Q2

5. Sales revenue increased by 2,4% compared to the same period 2006 Pro forma sales increased by 9,1% Contribution margin ratio was 36% and increased by 7% compared to last year The ratio between operating expenses and revenue was 33% compared to 32% in 2006 Net foreign excange gain amounted to ISK 268 million in 1H 2007 After the company paid up loans in early July it is estimated that interests payments will be lowered annually by ISK 220 million Income statement Consolidated Income Statement In ISK million 1H 2007 1H 2006 Change

6. The Company lowered its non current assets by selling its shares in Wyndeham Press Group and Hands Holding The increase in Current assets is mainly due to account receivable generated from the selling of the Company’s part in Hands Holding Current ratio was 1,08 and the Equity ratio was 35,3% at the end of June 2007 Early July the Company paid up an un-indexed bond group to the nominal value of ISK 2.000 million. In addition refinancing of bank loans were finalised. Interest bearing loans following there actions amount to approx. ISK 7.000 million Balance sheet Consolidated Balance Sheet In ISK million 30.06. 2007 31.12. 2006 Change

7. Cash flow Consolidated Cash Flow In ISK million 1H 2007 1H 2006 Negative Cash flow can be explained by the following: Payment to creditors related to investment activities in 2006. Program inventory increased by ISK 200 million due to upcoming winter TV program and finally additional interests payments were paid in connection with lowering outstanding debt. Acquisition of operating assets amounted to ISK 151 million

8. 365 hf. - Sales in ISK million

9. EBITDA development in ISK million In 4Q 2006 adjustments have been made for sales profit of ISK 1.586 million and other costs of ISK 110 million

10. Revenue and EBITDA breakdown between sectors in 1H 2007 RevenueEBITDA

11. Sales in ISK million - Media

12. EBITDA in ISK million - Media In 4Q 2006 adjustments have been made for sales profit ISK 1.586 million and other costs ISK 110 million

13. Sales in ISK million - Entertainment

14. EBITDA in ISK million – Entertainment

15. Outlook 2007 The Company’s management estimates that the lower range of the published budget will be reached. New emphasis placed in the operation in addition to restructuring arrangements which generated good results in Q2 will be a support for the company in the second half of 2007. It is forecasted that Sýn2, a new television station that will be broadcasting the English Football Premium League, will generate considerable increase in subscription and advertising revenue for the Company.

18. Vetrardagskrá Erlendir þættir Einkasamningar Stöðvar 2 (lógó fyrirtækjanna): –Warner –Fox –Sony –Fremantle –HBO

20. End of presentation