BNPP High Yield Conference 2008

10 January 2008

2

Introduction

• Company overview

• Shareholders and Management

• Strategy

• Market position

• Financials

• Q&A

3

Sweden

Finland

RussiaEstonia

Belarus

Poland

Bitė is a Mobile Network Operator in Lithuania and Latvia

Bitė Group figures

Latvia• 2.3m inhabitants• 11.9% GDP growth 06• GDP pr. capita € 7,070

Lithuania• 3.4m inhabitants• 7.7% GDP growth 06• GDP pr. capita € 6,996

Source: Hansabank, Q1 2007

Company overviewShareholders and

ManagementStrategy

Marketposition

Financials Q&A

Norway

Denmark

Germany

Numbers in milions 2006 Q4 2006 - Q3 2007

Customers 1.3 1.1Service Revenue € 154.7 € 175.8 EBITDA € 29.8 € 36.7

4

Bitė Business Snapshot

Company overviewShareholders and

ManagementStrategy

Marketposition

Financials Q&A

Key Operational Data (EoP Q3 2007) Bite Lithuania Bite Latvia

Bite Finance International

Group

Start of Operations 1995 2005

Population Network Coverage 100% 92%

Subscribers ('000) 1,036 93 1,129

Employees (FTE's) 520 98 619

Key Financial Data (EURm) (Q4 2006-Q3 2007) Bite Lithuania Bite Latvia

Bite Finance International

Group

Service Revenue 167.2 9.0 175.8

EBITDA 51.6 (14.1) 34.8

Margin % 31% -157% 20%

CAPEX 27.7 14.2 41.9

5

Mid Europa Partners has a History of Successful Mobile Telecom Investments

• On February 9, 2007 a wholly owned subsidiary of funds advised by Mid Europa Partners acquired Bité from TDC

• Mid Europa Partners is a leading private equity investment firm focused on investing in large, cash generative enterprises operating primarily in Central and Eastern Europe

• Unparalleled track-record in investing in mobile telecom assets in Central Europe. Key sector investment highlights include

1999 2001 2006

Invested in Oskar (No 3 mobile operator in theCzech Republic)

Invested in Orange Slovakia (No 1 mobile operator in Slovakia)

Invested in Connex(No 1 mobile operatorin Romania)

Invested indirectly inT-Mobile CZ (Joint leader in theCzech Republic)

Company overviewShareholders and

ManagementMarket

positionFinancials Q&A

2007

Invested inBite

And One (3rd operator in Austria)

Strategy

6

Bruno Ducharme

Chairman of Supervisory Board

• Former President and CEO of Telesystem International Wireless (“TIW” – parent company for MobiFon and Oskar)

• Formerly non-executive director of TIM Hellas S.A.• Currently non-executive director of One GmbH

Martin Amtoft ChristensenChief Financial Officer

• Joined Bité as CFO in 2004• Finance Director within TDC from 2001 - 2004

James J. JacksonMember of Supervisory Board

• Former CFO of MobiFon S.A. from 1997 – 2005, while under TIW and Vodafone ownership

• CFO of Oskar from 1999 – 2001, involved in the build out and service launch and early stage debt and equity financing

• Non-executive director of Neo Material Technologies Inc. and Duluth Metals Limited

Experienced Management with Telecoms Background

Kenneth CampbellChief Executive Officer and Chairman of the Management Board

• Former Chief Marketing Officer with MobiFon S.A. and Vodafone Romania and a member of the Marketing Board of the Vodafone Group

• Former Chief Commercial Officer of Orascom Telecom in Tunisia

• Former Director and Vice President for Corporate Strategy and Marketing of MobiNil in Egypt

Company overviewShareholders and

ManagementMarket

positionFinancials Q&A

Fred Hrenchuk Chief Executive Officer, Bite Latvia

• Former Chief Technology Officer with Vodafone Czech Republic

• Held various executive positions with Oskar Mobile and MobiFon

Strategy

7

Bite Strategy

Marketposition

Financials Q&ACompany overviewShareholders and

Management

Profitable growth and cash flow generation

Achieve parity in network quality and distribution presence

Establish strong organization, leveraging off of existing Lithuanian infrastructure

Capitalize on one of the highest tariff structures in Europe

Increased revenue share through value focus while securing new growth as human penetration rises

Sound investment criteria - focus on financial return, achieving growth while controlling costs and CAPEX

Leverage best-in-class network in offering the highest quality value-added products & services including high-speed mobile broadband to drive future ARPU growth

Continue to maintain service quality leadership and maintain leading customer satisfaction levels to further improve customer retention and maintain lower than market churn rates

Continue growth in post paid residential market share

Maintain strong post paid business position and grow ARPU of existing customer base

Maintain market share and grow ARPU in pre paid segment

Latvia (start-up)Lithuania (FCF growth)

Common Principles

Strategy

8

• Fixed line penetration in both Latvia and Lithuania is below CEE average•In Lithuania 48% of households have mobile but

not fixed telephony (highest in EU)

•In Lithuania PC penetration went from 5% in 2000 to 37% in 2006•Broadband penetration is growing (32% in 2006)

•Real GDP Growth increases disposable income and increases demand for mobile services•MoU still low compared to price levels

Key Market Drivers

Voice Traffic Growth

Low Fixed Penetration

Data Usage

•Both markets have 3 mobile operators•GSM spectrum is fully allocated•MVNO and SP’s are all on Bite Network and have

relative weak position

3 Player Markets

Marketposition

Financials Q&AStrategyCompany overviewShareholders and

Management

9

3 mobile operators in both markets

LatviaLithuania

Marketposition

Financials Q&A

Positioned as customer service leader

Perceived as being the quality alternative to Omnitel

Strong in Business segment Aggressor in Residential

postpaid segment Stable fair share of prepaid

market

Positioned as the largest and strongest

Perceived as being the incumbent

Strong in all segments

Positioned as the price leader Perceived as being lower

quality than competitors Low Business market share Strong in prepaid market

Positioned as the new alternative and customer service leader

Perceived as being lagging behind the competition on quality

Growing in all segments

Positioned as the largest and strongest

Perceived as being the incumbent

Strong in postpaid

Positioned as the price leader Perceived as being lower

quality than competitors Low Business market share Strong in prepaid market

StrategyCompany overviewShareholders and

Management

10

GDP pr. Capita Average Growth 2003-2007E

8.2%10.4%

0%

2%

4%

6%

8%

10%

12%

Lithuania Latvia

Customer Satisfaction Lithuania Q3 2007

57%

49% 48%

40%

45%

50%

55%

60%

Bite Omnitel Tele 2

SAC in Lithuania in % of Service Revenue

12%10% 9%

0%2%4%6%8%

10%12%14%

1H 2006 2H 2006 1H 2007

Bite Finance International EBITDA (EURm)

12.0

17.2 18.5

0.0

5.0

10.0

15.0

20.0

1H 2006 2H 2006 1H 2007•Market Share• Lithuania 30% revenue share• Latvia ~5% SIM share

•Highest Quality Perception•Excellent network

coverage• SAC reduction•Margin improvement in

Lithuania•Turnaround in Latvia

•Revenue Growth of 20%•EBITDA growth of 40%•Free Cash Flow

improvements

• Outstanding GDP Growth

• Lithuania 7.7% in 2006• Latvia 11.9% in 2006

•Growing Purchasing Power

Investment Thesis

High Macroeconom

ic Growth

Strong Market Position

Rising Cash Profile

Established Track Record

Marketposition

Financials Q&AStrategyCompany overviewShareholders and

Management

11

57%

49%48%

40%

45%

50%

55%

60%

Differentiating through customer experience

Improving Latvian PositionStrong Lithuanian Position

Bité has most satisfied customers

Marketposition

Financials Q&AStrategy

4

5

6

7

8

9

10

May-0

6

Jun-

06Ju

l-06

Aug-

06

Sep-

06

Oct-06

Nov-06

Dec-06

Jan-

07

Feb-

07

Mar-0

7

Apr-0

7

May-0

7

Jun-

07Ju

l-07

Aug-

07

Sep-

07

Oct-07

Nov-07

Bite LMT Tele 2

Network Perception is improving

Source: SKDS, Q4 2007

40%

50%

60%

70%

80%

90%

100%

Q3-05 Q4-05 Q1-06 Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07 Q4-07

Bite LMT Tele 2

Total Awareness is growing

Company overviewShareholders and

Management

12

Financial performance is improving Bité Lithuania and Bité Latvia Consolidated

147.0

175.8

Q4 05 - Q3 06 Q4 06 - Q3 07

+28.8 €m~

+20%

EBITDA - CAPEXEBITDASERVICE REVENUE CAPEX

Figures in millions euro. The grey bubbles show the growth year over year in absolute numbers and %.

Marketposition

Financials Q&AStrategy

26.2

36.7

Q4 05 - Q3 06 Q4 06 - Q3 07

+10.5 €m~

+40%40.7

41.9

Q4 05 - Q3 06 Q4 06 - Q3 07

+1.2 €m~

+3%

-14.5

-5.2

Q4 05 - Q3 06 Q4 06 - Q3 07

+9.3 €m

Company overviewShareholders and

Management

13

Lithuania – The Profitable Growing Business

13,392

10,710

14,192

15,297

11,995

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Q3 06 Q4 06 Q1 07 Q2 07 Q3 070.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

EBITDA EBITDA as a % of Service revenue

EBITDASERVICE REVENUE

Figures are in thousands euro.

Marketposition

Financials Q&AStrategy

40,201

40,813

43,036

44,431

38,953

36,000

37,000

38,000

39,000

40,000

41,000

42,000

43,000

44,000

45,000

Q3 06 Q4 06 Q1 07 Q2 07 Q3 07

Company overviewShareholders and

Management

14

Latvia – The New Start Up

-2,921

-3,500-3,660 -3,621

-3,350

-4,000

-3,500

-3,000

-2,500

-2,000

-1,500

-1,000

-500

0Q3 06 Q4 06 Q1 07 Q2 07 Q3 07

EBITDASERVICE REVENUE

Figures are in thousands euro.

Marketposition

Financials Q&AStrategy

994

1,433

1,828

2,511

3,241

0

500

1,000

1,500

2,000

2,500

3,000

3,500

Q3 06 Q4 06 Q1 07 Q2 07 Q3 07

Company overviewShareholders and

Management

15

Capital Expenditure Bité Lithuania and Bité Latvia Consolidated

EBITDA - CAPEXCAPEX

Figures are in thousands euro.

Marketposition

Financials Q&A

10,092

13,959

9,975

8,9059,036

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

Q3 06 Q4 06 Q1 07 Q2 07 Q3 07-30.0%

-25.0%

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

CAPEX CAPEX as a % of revenue

599

-7,100

-1,667

1,201

2,960

-8,000

-6,000

-4,000

-2,000

0

2,000

4,000

Q3 06 Q4 06 Q1 07 Q2 07 Q3 07

15.0%

20.0%

25.0%

30.0%

StrategyCompany overviewShareholders and

Management

16

Bite Finance International Group leverage is decreasing

Net debt to Consolidated EBITDA

Marketposition

Financials Q&A

9.1

8.07.4

6.0

At acquisition Q1 Q2 Q3

Note: "At acquisition" Net debt to Consolidated Bite Group EBITDA ratio is calculated based on actual audited Bite Group consolidated figures for Y2006. Quarterly ratios are calculated on annualized EBITDA for Bite Finance International Group.

StrategyCompany overviewShareholders and

Management

17