Investor Presentaiton

* Source: ABN Amro Credit Research New Telecom Italia Telefonica 46% 41% Portugal Telecom 40% Telekom Austria 39% KPN 36% BT 31% TDC 28% TDC Portugal Telecom ■ Telekom Austria compares favourably with its European peer group • 39% EBITDA margin • Further reduction in CAPEX and debt planned TELE KOM AUS TRIA 12.7x 11.3x Financial Overview - Telekom Austria vs European Peers* EBITDA margin FY2002 EBITDA Interest Cover FY2002 Net Debt/EBITDA FY2002 Telekom Austria 9.7x New Telecom Italia 8.0x Telefonica 7.3x BT 5.2x KPN 3.7x New Telecom Italia 3.2x 2.8x KPN 2.4x TDC Telekom Austria 2.1x Telefonica 1.9x Portugal Telecom 1.8x BT 1.8x

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