1. THE ITALIAN ICT MARKET Maura Gritti - International Operations Director

2. WORLDWIDE ICT MARKET BY REGION 2003: TOTAL WORLDWIDE MARKET VALUE 2070 BILLION ICT MARKET GROWTH 2004/2003= +4,3% Source: EITO - Smau EU 30% USA 33% Japan 12% 4 Tigers 3% RoW 22%

3. EUROPEAN ICT MARKET BY COUNTRY Source: EITO - Smau 2003: TOTAL WE ICT MARKET VALUE 592,3 BILLION ICT MARKET GROWTH 2004/2003= +3,1%

4. TOP 5 ICT MARKET GROWTH, in % Source: EITO - Smau 0,6 1,0 -0,6 0,4 4,6 1,3 3,0 3,2 2,4 2,5 5,5 3,0 4,6 4,9 4,4 3,6 7,2 4,7 WEUKFRANCEGERMANYSPAINITALY 2003/02 %2004/03 %2005/04 %

5. WESTERN EUROPEAN IT MARKET VALUE GROWTH BY COUNTRY IN % Source: EITO - Smau -3,6 -1,4 -2,7 -6,1 -4,0 -2,1 -1,3 -0,3 -1,9 -2,2 3,8 -2,6 2,3 2,4 0,7 4,6 1,6 WEUKFRANCEGERMANYSPAINITALY 2003/02 %2004/03 %2005/04 %

6. WESTERN EUROPEAN TLC MARKET VALUE GROWTH BY COUNTRY IN % Source: EITO - Smau 3,3 2,3 5,2 1,6 4,7 3,7 2,5 2,4 1,0 3,2 4,9 3,8 3,7 4,1 2,3 4,5 5,9 3,9 WEUKFRANCEGERMANYSPAINITALY 2003/02 %2004/03 %2005/04 %

7. WESTERN EUROPEAN ICT MARKET PRODUCT SEGMENT SHARES, 2004 Source: EITO - Smau ICT equipment 25% Software 11% IT services 21% Carrier services 43% 2004: TOTAL EU ICT MARKET VALUE 606 BILLION

8. ITALY ICT MARKET VALUE GROWTH BY PRODUCT SEGMENT Source: EITO - Smau -8,3 0,2 -2,7 -4,1 -0,3 5,0 -0,7 2,6 -0,4 3,9 2,0 4,1 2,0 6,0 4,5 7,0 4,0 4,7 Computer hardwareEnd user communications equipment Office equipmentDatacom and network equipment IT servicesCarrier services 2003/02 %2004/03 %2005/04 %

9. ITALIAN ICT MARKET 2,6 4,4 1,3 2,7 9,5 2,7 3,4 2,4 2,0 9,5 portableperipheralsprinters & MFPPBX & key systemstransmissionother data communications 2003 2004 1523 2,62,4 1498 1251 268 801 268 Source: EITO - Smau

10. IT SERVICES IN ITALY, GROWTH IN % -1,7 -0,6 1,9 -0,9 -0,3 2,3 1,5 3,8 1,3 2,0 4,7 3,3 6,4 3,2 4,0 ConsultingImplementationOperations management Support services IT services 2003/02 %2004/03 %2005/04 %

11. IT COMPANY BY NUMBERS OF EMPLOYEES Source: Anasin-IDC 2-5 employees 68% 6-19 employees 24% more than 50 employees 3% 20-49 employees 5%

12. ITALIAN IT COMPANY BY REGION Source: Anasin-IDC NW 41% NE 25% South 15% Centre 19%

13. ITALIAN CARRIERS MARKET Source: EITO - Smau MARKET VALUE 2004: 36,2 MLD € Fixed voice telephone services 32% Fixed data services 15% Mobile telephone services 53%

14. MOBILE SUBSCRIPTIONS Source: EITO - Smau

15. THE EVOLUTION OF BROADBAND CONNECTIONS Source: EITO in cooperation with IDC 0 10,000 20,000 30,000 40,000 50,000 60,000 20032004200520062007 Consumer Business

16. 2,923 4,996 2,024 2,027 2,971 2,477 2,714 1,705 France Germany Italy Spain UK Nordic Benelux Other Western Europe Total connections 2003 (thousands): 21,837 Source: EITO in cooperation with IDC NUMBER OF BROADBAND CONNECTIONS BY COUNTRY

17. WEB USERS BY COUNTRY, THOUSANDS Source: EITO in cooperation with IDC 2003% of population 2007% of population CAGR 2003-07 France27,64046.341,561 68.6 10.7 Germany 42,00351.059,033 71.8 8.9 Italy22,82239.634,038 58.8 10.5 Nordic16,28640.820,407 83.0 5.8 Spain15,41425.824,955 62.2 12.8 UK34,41557.645,308 75.4 7.1 Other 32,22848.346,968 69.6 9.9 Western Europe 190,80848.9272,270 69.3 9.3