DATATEC GROUP

1
DATATEC GROUP

• UNAUDITED RESULTSFOR THE SIX MONTHS ENDED 31
  AUGUST 2005
• Jens MontananaCEO

2
DATATEC GROUP

• Trading Environment
• Strong US and Asia markets, weaker Europe
• Higher energy prices creating inflationary
  pressures
• Global demand for IT continues to improve
• Services opportunities increasing
• Continental Europe continues to lag
• Currency volatility has diminished

3
DATATEC GROUP

• Performance Highlights
• Revenue growth and market share gains in all
  operations
• Accelerating improvement in financial performance
• HEPS up strongly to 12c (includes 1.8c from
  positive Lucent settlement)
• Quadrupling of EBITDA operating profits to 40m
• Gross margins continue to expand
• Growing contribution from integration services
  and consulting
• Strong cash flow generated from operations

4
DATATEC GROUP

• Revenues ( million)

1,442
1,287
1,251
1H FY 2005
1H FY 2006
2H FY 2005
Continuing revenues grew by 14.2 from 1.2
billion to 1.4 billion
5
DATATEC GROUP

• Revenue by Region

Europe 34
Asia 7
South America 2
South Africa ME 2
North America 55
6
DATATEC GROUP

• Gross Margin ( million)

163
142
125
1H FY 2005
1H FY 2006
2H FY 2005
7
DATATEC GROUP

• EBITDA ( million)

40
15
10
1H FY 2005
1H FY 2006
2H FY 2005
8
DATATEC GROUP

• Total Headline Earnings Per Share

12.02
3.85
0.10
1H FY 2005
2H FY 2005
1H FY 2006
US Cents
9
DATATEC GROUP

• Net Cash

140m
112m
97m
1H FY 2005
1H FY 2006
2H FY 2005
Strong net cash position
10
DATATEC GROUP

• Segmental Analysis

11
DATATEC GROUP

• Future Outlook
• All divisions expected to continue delivering
  improving financial results
• Revenue increases should be matched by growing
  profitability
• Global growth may moderate
• Balance sheet and working capital management
  remains strong
• Management focused on best practices and
  appropriate growth strategies
• Board considering maiden dividend at year-end

12
WESTCON GROUP
13
WESTCON GROUP

• Highlights
• Revenue exceeds 1.1 billion with increases over
  all geographic regions
• Gross Margin increases from 7.6 to 8.5
• Company generates 10 million cash from
  operations
• Cost reduction initiatives accelerate growth in
  EBITDA and Pre-tax profitability
• Americas and Asia Pacific perform above
  expectations, Europe still slow but starting to
  improve
• Thin office concept being deployed in Eastern
  Europe and Asia

14
WESTCON GROUP

• Revenue and gross margin trend - Six months

1,127
1,044
1,011
981
15
WESTCON GROUP

• Revenue by Geography

2H FY 2005
1H FY 2006
Americas increases on strength of increased
Cisco market share
16
WESTCON GROUP

• Revenue by Vendor

9
10
10
8
11
10
16
14
53
59
2H FY 2005
1H FY 2006
US Cisco market share increases in Q2 FY 2006
17
WESTCON GROUP

• Operating expenses

69.2
67.5
64.9
64.0
18
WESTCON GROUP

• EBITDA (M - continuing operations)

40
30,8
30
26,7
20
9,9
10
5,0
3,6
2,4
1,7
1,3
0
000
(a) Includes non-operating subsidiaries
19
WESTCON GROUP

• Headcount by Region

Region Feb 2004 Aug 2004 Feb 2005 Aug 2005
Americas 432 439 444 435
Europe 509 486 470 426
Asia-Pacific 124 129 134 133
Consolidated 1,065 1,054 1,048 994
20
WESTCON GROUP

• Consolidated results - Six month periods

(US, in millions) Aug 2004 Feb 2005 Aug 2006
Sales 1,044 1,011 1,127
Gross Profit 79 79 96
Gross Profit 7.6 7.8 8.5
Operating Costs 69 64 65
Operating Costs 6.6 6.3 5.8
EBITDA 10 15 31
EBITDA 0.9 1.5 2.7
Dep Amort 5 6 5
DA 0.5 0.6 0.4
Interest Expense, Net 3 2 3
Interest Expense 0.3 0.3 0.2
Pre-Tax Income 2 7 23
Pre-Tax 0.2 0.7 2.1

Includes profit of 4.3m from Lucent settlement
21
WESTCON GROUP

• Consolidated Balance Sheet - Working Capital - US
  GAAP

(US, in millions) Aug 2004 Feb 2005 Aug 2005
Accounts Receivable 299 283 325
DSO (days) 53 50 55
Inventory 204 189 183
Inventory Turns 9.3x 10.1x 10.7x
Accounts Payable 285 283 324
DPO (days) 55 54 60
Current Ratio 1.5 1.5 1.5
Note Ratios based on trailing twelve month
results
22
WESTCON GROUP

• Consolidated Balance Sheet - Capitalization - US
  GAAP

(US, in millions) Aug 2004 Feb 2005 Aug 2005
Cash 99 123 135
Working Capital Lines 97 75 86
Net (Debt) Cash (36) 8 9
Equity 279 285 287
Debt to Capitalization 0.33 0.29 0.31
Liabilities to TNW 1.65 1.52 1.69
Includes 40m inter-company loan payable to
Datatec which is eliminated in consolidation
23
WESTCON GROUP

• Net Cash / Debt Trend

(30,701,555)
(59,842,704)
(76,872,694)
(139,544,122)
Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Ma
r Jun Sep Dec Mar Jun Sep
Note Figures in US dollars. Dollar figure shown
for each year represents average (debt) cash
balance for year
24
WESTCON GROUP

• Future Outlook
• Revenue growth should be matched by lower
  operating cost
• Profit growth and margin expansion will drive
  improving ratios
• Expect improvements in Continental Europe to feed
  through into better overall consolidated
  performance
• Strong performance in Americas, especially the
  US, should help underpin 2nd half
• Despite tightening of macro-economic conditions
  outlook remains favourable

25
LOGICALIS GROUP
26
LOGICALIS GROUP

• Highlights
• Total revenues up 78 (27 organic growth)
• Market share gains in UK and US (rate of growth
  outstripped vendors)
• Operating leverage as gross margins increased
  more than operating expenses
• Transformation to an ICT integrator and services
  group largely complete
• 3 IBM partner in UK following TBC Group
  acquisition in September 2005
• Opened new managed service centres in UK and US
• Completed on 50M credit facility to fund growth

27
LOGICALIS GROUP

• Financial Performance - Summary

(US000) Half Year ended Half Year ended Half Year ended
31 Aug 2004 31 Aug 2005 31 Aug 2005
Continuing Continuing Variance
Revenue 139,136 247,278 78
Gross Profit 29,094 49,665 71
As of Revenue 20.9 20.1
Operating Expenses 26,743 42,223 58
As of Revenue 19.2 17.1
EBITDA 2,351 7,442 217
As of Revenue 1.7 3.0
Operating Profit 733 5,182 607
As of Revenue 0.5 2.1
Trading in first half of FY 2006 has been strong
Note Includes Datatec level inter-company
transactions which eliminate on Datatec
consolidation
28
LOGICALIS GROUP

• Revenue - Geographic Split (continuing operations)

of Revenue
H1 FY 2005
H1 FY 2006
North America generated 67 of revenue
29
LOGICALIS GROUP

• Revenue - Segmental Split (continuing operations)

Maintenance 7
Maintenance 8
ProfessionalServices 7
ProfessionalServices 9
ManagedServices 8
ManagedServices 5
Product 75
Product 81
H1 FY 2005
H1 FY 2006
Product revenue mix has increased following IBM
partner acquisition in US (predominantly product
business)
30
LOGICALIS GROUP

• Revenue - Product Vendor Mix

5
4
18
36
HP
Cisco
IBM
37
EMC
Others
H1 FY 2005
H1 FY 2006
IBM now one of three major vendors (better
balance to business)
Note Continuing operations only
31
LOGICALIS GROUP

• Gross Margin (continuing operations)

Gross Margins were steady year on year
32
LOGICALIS GROUP

• EBITDA (M - continuing operations)

Good improvement in the UK with strong
performance from the US
33
LOGICALIS GROUP

• Key Financial Measures

US000 Aug 2004 Feb 2005 Aug 2005
Deferred Revenue 17,506 16,799 21,580
Inventory 11,622 9,805 10,349
Inventory Days (Excluding Spares Stock) 17 15 11
Accounts Receivable 37,138 56,938 75,862
DSO Days 41 58 54
Accounts Payable 37,667 50,065 66,658
DPO Days 79 74 76
Net Cash 64,991 56,881 30,913
Net cash reduction reflects cash cost of
acquisitions (24.2M)
34
LOGICALIS GROUP

• Headcount by Region

Region Aug 2004 Feb 2005 Aug 2005
North America 275 354 385
South America 177 181 186
Europe 207 207 295
Total 659 742 866
Increase predominantly due to acquisitions
35
LOGICALIS GROUP

• Recent Important Wins

US Printing Solutions Company HP/EMC infrastructure plus managed services (1.1m) 2.6m
US Global Investment Services Application development and integration 2.0m
US Information Management Provider Major HP/IBM/EMC and Oracle database consolidation 3.7m
UK Telecoms Sector Professional services 1.4m
UK Insurance IP network, voice, data and video convergence plus support (300k) 0.9m
UK IT Services IP telephony, voicemail and video conferencing solution plus 5 years support (500k) 1.0m
UK Education Sector Virtual storage solution 0.7m
South America Mobile Telecoms Company Products and services 3.5m
South America Major Telecom Company Cisco products 7.3m
36
LOGICALIS GROUP

• Future Outlook
• Management is addressing the following business
  issues
• Process and system requirements for our increased
  scale
• Successful integration of UK acquisitions
  important
• Breadth of solutions for customers
• Achieving cost synergies
• Identifying and evaluating other suitable
  acquisition targets
• Remaining cautious on general economic outlook
• Historically IBM revenues strong in second half
• Expect continuing improvement in second half

37
ANALYSYS MASON GROUP
38
ANALYSYS MASON GROUP

• Overview
• The group offers a full spectrum of business
  advisory, management consultancy, research and
  implementation services
• Trusted independent consultancy operating
  throughout the world with a direct presence in
  the UK, Ireland, France, Spain, Italy, USA and
  Singapore
• Analysys Masons input has become an
  indispensable part of any major telecoms
  initiative
• The group employs approximately 300 professional
  consultants and support staff

39
ANALYSYS MASON GROUP

• Highlights
• Successfully integrated the Analysys acquisition
  and now generating 650k per annum of
  infrastructure savings
• Proposal win rates and average order size for
  joint Analysys and Mason bids double those of pre
  merger
• Expanded geographic footprint, established
  Singapore office

40
ANALYSYS MASON GROUP

• Financial Performance - Summary

Half Year ended Half Year ended Half Year ended
31 Aug 2004 31 Aug 2005 31 Aug 2005
000 000 Variance
Revenue 19,150 30,072 57
Gross Profit 5,608 10,329 84
As of Revenue 29.3 34.3
EBITDA 1,431 3,003 109
As of Revenue 7.5 10
PBT 1,252 2,685 114
As of Revenue 6.5 9
Note 31 Aug 2004 figures include 6 months
results (Mason/Catalyst) and 1 months results
(Analysys)
41
ANALYSYS MASON GROUP

• Revenue - Geographic Split

of Revenue
H1 FY 2005
H1 FY 2006
42
ANALYSYS MASON GROUP

• Revenue - Segmental Split

Analysys Research 9
Analysys Consulting 38
Analysys Consulting 9
Catalyst 20
Analysys Research 2
Mason 41
Catalyst 12
Mason 69
H1 FY 2006
H1 FY 2005
Note 31 Aug 2004 figures include 6 months
results (Mason/Catalyst) and 1 months results
(Analysys)
43
ANALYSYS MASON GROUP

• Gross Margin

60
55
50
41.6
45
40.1
40
36.1
36.1
33.5
34.4
35
28.7
29.3
30
25
20
17.3
15
11.2
10
5
0
Mason
Analysys Consulting
Analysys Research
Catalyst
Total

44
ANALYSYS MASON GROUP

• EBITDA - 000

3003
1694
1580
1431
1239
370
151
162
9
-200
Mason
ACL
ARL
Catalyst
Total
Note 31 Aug 2004 figures include 6 months
results (Mason/Catalyst) and 1 months results
(Analysys)
45
ANALYSYS MASON GROUP

• Headcount by Division

Division Aug 2004 Feb 2005 Aug 2005
Mason 81 82 84
Analysys Consulting 79 77 76
Analysys Research 20 25 26
Catalyst 32 25 21
AMG Support Services (FTEs) 50 43 47
Associates 75 75 62
Total 337 327 316
46
ANALYSYS MASON GROUP

• Recent Important Wins

Analysys Consulting and Research Mason and Catalyst
Middle East Fixed operator International acquisitions (1.0m) W. Europe - Mobile operator - Network roll-out programme management (4.1m)
European regulators 3 Mobile interconnect projects (940k) UK Transport Mobile Radio Project management (710k)
W.Europe Fixed operator Off-the-shelf and custom research (475k) S. Europe Mobile operator EDGE/3G network procurement Analysys follow-on (145k)
Asia Regulator National Broadband strategy (350k) UK Public Sector Technical support (140k)
Europe Venture Capital Operator purchase (300k) Mobile operator Contact centre processes change management (950k)
Joint Joint
South Africa Fixed and mobile operator International acquisition (1.0m) South Africa Fixed and mobile operator International acquisition (1.0m)
Asia Fixed operator Response to privatisation (630k) Asia Fixed operator Response to privatisation (630k)
Europe Mobile operator 3G Business plan and spectrum bid (560k) Europe Mobile operator 3G Business plan and spectrum bid (560k)
47
ANALYSYS MASON GROUP

• Future Outlook
• Management is addressing the following business
  issues
• Emphasis on marketing and building brand
  awareness
• Focus on margin performance of all business units
  within divisions
• Attention to recruitment and retention challenges
• Generating further integration gains and easing
  cross-divisional working
• Monitoring impact of incentive structure changes
  on culture and morale
• Telecoms/IT environment is stable
• Hot industry themes
• Triple play
• Mobile content
• Fixed-mobile convergence
• Mergers and acquisitions
• Outsourcing
• Growth expected in a continuing competitive
  industry

48
QUESTIONS