Investor Presentaiton

Summary of Key Credit Strengths Group ☐ Wireline Wireless ☐ Strong operating profitabilty and operating free cash flow Moderately leveraged balance sheet with net debt/adj. EBITDA of 1.2x. ■ Ratio impact of Mobiltel acquisition will be quickly absorbed with scope for further debt reduction ■ Interest coverage and cash flow-to-debt ratios are strong and amongst the best in the European telecom operator universe Continued leading position in the Austrian wireline market ■ Wireline market share loss reversed and stablized at 55%; wireline operating margins restored (1-9M 04: 39.8%) - Restructuring program largely completed with significant cost reductions achieved; over 35% wireline headcount reduction since Dec. 31, 2000 Leading market position and strong cash generation from domestic wireless operations Strong growth and cash flow potential from existing market positions in foreign operations Good access to Mobiltel's cash flows accelerates debt reduction 24 TELE KOM AUS TRIA

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