Gruppo Editoriale L’Espresso

OLD MEDIA, CROSS MEDIA, MULTIMEDIA

May 2009

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STARTING FROM ITS PRESENT POSITION

THE ESPRESSO GROUP IS CHANGING AND MORPHING into a multimedia publishing house strongly tied to its brands

A MULTIMEDIA BRANDED CONTENT COMPANY

Each title develops its contents on the new platforms, according to the peculiarity of each brand

From the dual model (print+ads/audio+ads) to the multiplatform model (print+sound+audio+video+mobile+ads)

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Radio TV

Add-ons

repubblica.it

Venerdì

Salute Viaggi

XL

“D”

Affari & Finanza

E-ink Mobile phones New Platform

La Repubblica

A MULTIMEDIA BRANDED CONTENT COMPANY FROM THE ORIGINS TO THE NEAR FUTURE La Repubblica system: quality news and comments

No. 1 among “influential” adults

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Local Newspapers ➡ Internet, aiming to develop classified

ads and new direct sale methods

➡ Websites open to citizens contributions become the new “agora” of local communities

Local Editions of la Repubblica

parma.repubblica.it : new local edition online only

A MULTIMEDIA BRANDED CONTENT COMPANY FROM THE ORIGINS TO THE NEAR FUTURE The appeal of “local”: serving communities in over 50 towns and districts

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Satellite TV

Internet (broad band)

Mobile phones

RDJ

All Music TV

m2o

Capital

DJ chiama Italia the radio becomes TV

DJ TV

A MULTIMEDIA BRANDED CONTENT COMPANY FROM ITS ORIGINS TO THE FORSEEABLE FUTURE Radio and TV:quality entertainment

No. 1 among the most coveted market, young people

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NEWSPAPERS, RADIO, TV ONE ON TWO ITALIANS CONNECTS TO OUR MEDIA FROM 1999 TO 2008 ITALIAN PEOPLE WHO, IN THE AVERAGE WEEK, READ, LISTEN, WATCH AND CONNECT TO ONE OF THE GROUP’S MEDIA, INCREASED FROM 22 TO 33 MILLION

22,190

33,074

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READERS OF OUR PRINT AND WEB TITLES ARE INCREASING Readers increased, in the average week, from 1999 to 2008, from 10 to 15 mln, of which 4 mln only or in part on the internet

8,221 Aged 14 to 44 Aged > 44

6,502

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THE ESPRESSO GROUP IS CHANGING Internet advertising revenues of the Espresso Group (consolidated “pro-forma”)

(€mln) FY 2007 FY 2008 Online % on total

advertising

Repubblica 17,7 21,8 7,86% (of which Repubblica TV (1,1) (1,8)

Espresso 0,5 0,7 2,12% Radio e TV 3,0 2,7 2,78% Local newspapers 0,3 1,0 1,15% Kataweb websites 3,4 3,1

TOTAL DISPLAY 24,9 29,4 Other websites 3,4 3,9 5,36%

TOTAL ADVERTISING (excluding intercompany) 28,3 33,3 5,79%

Intercompamy 0,2 0,2

TOTAL INTERNET REVENUES 28,5 33,4 5,65%

On line services revenues 2,2 2,8 Mobile services revenues 2,7 1,3

TOTAL 33,2 37,4

EBITDA 1,6 4,9 EBIT 0,9 4,1

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A n n e x

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Restaurants Cinema

Repubblica.it mar-09 vs mar-08 Monthly users 13,265,482 +17.8%

Page views 572,048,676 +14.5% home page 215,484,588 +24.6%

Source: Site Census

Repubblica.it

March 2009

Users (daily) 1.1 mln Page views 18.5 mln

2008 Advertising revenues (€k)

Repubblica.it 22,074 The newspaper updated by the minute! (free access) You can download in pdf format the newspaper with the latest news of Repubblica.it, you can print it, take it with you and read it whenever and wherever you like

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Radio and TV Monthly users mar-09 vs mar-08 Radio 1,376,119 -3.3% All Music 64,535 -51%

REPUBBLICA READER (MICROSOFT VISTA): PRINT NEWSPAPER IN A FORMAT FOR MOBILE OR COMPUTER DISPLAYS: SAME CONTENTS ON DEMAND

220,000 videos downloaded in the average day in June

Repubblica Radio & TV March 2009 Users (daily) > 112 thousand

REPUBBLICA RADIO TV

ALSO ON DT TV

Source: Site Census

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seidimoda mar-09 vs mar-08 Monthly users 1,077,797 +68.3%

Source: Site Census

seidimoda March 2009 Users (daily) 64 thousand Page views 643 thousand

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Source: Site Census

Local newspapers Monthly users mar-09 vs mar-08 1,334,416 +19%

Local editions of la Repubblica Monthly users mar-09 vs mar-08 2,243,740 > +100%

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JOB SEARCH AND RECRUITING ADS

A new product line: classified ads online

Advertising revenues

Total Internet classified ads 2008 vs. 07 (€k) 4,413 +12.8%

Total print classified ads (including death notices) 2008 vs. 07 (€k) 77,893 -3.6%

Source: Site Census

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PODCAST AND MOBILE

AT THE BORDERS WITH THE FUTURE:

PODCAST: FRAGMENTATION OF CONTENTS ON COMPUTER,

MOBILE, I-POD, ETC., SETS FREE FROM THE RESTRAINTS OF LIVE TRANSMISSION AND ALLOWS TO EXTEND BRANDS ON NEW PLATFORMS

MOBILE: PODCAST + OTHER TAILORED SERVICES

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170,000 downloaded in March 09

Internal source

1,601,000 downloaded in March 09

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DEEJAY CLUB: ACCESS TO MOBILE PORTAL RDJ DOWNLOAD AUDIO FILES OR JINGLES (WITH BUONGIORNO)

REPUBBLICA SMS LA BUONA STELLA REPUBBLICA.IT FOR VODAFONE LIVE AND WIND I.MODE

The Guide of restaurants on mobiles

Services revenues Total online and mobile 2008 vs. 07 (€k) 4,096 -16.8%

Source: Site Census