DATATEC GROUPUNAUDITED RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2006

DATATEC GROUP Performance Highlights

• Continuing strong revenue growth up 16%

• Big increase in earnings per share to 15.65 US cents

• EBITDA profits up 32% to $52m

• Margin expansion at all levels

• Successful listing on AIM market of London Stock Exchange

– Full transferability of shares between the two exchanges

– All shares listed on both markets

– 100% market capitalisation on both markets

1,442

1,534

1,675

1,300

1,350

1,400

1,450

1,500

1,550

1,600

1,650

1,700

H1 FY06 H2 FY06 H1 FY07

DATATEC GROUP Revenues ($ millions)

Revenues grew by 16%

DATATEC GROUPRevenues by Region

North America52%

South America2%

Europe36%

Asia7%

South Africa + ME3%

North America remains dominant

163

175

191

145150

155160

165170175

180185

190195

H1 FY06 H2 FY06 H1 FY07

DATATEC GROUP Gross Profit ($ millions)

DATATEC GROUP EBITDA ($ millions)

40

4652

0

10

20

30

40

50

60

H1 FY06 H2 FY06 H1 FY07

DATATEC GROUP Total Headline Earnings Per Share (US cents)

12.02

14.8915.65

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

18.00

H1 FY06 H2 FY06 H1 FY07

DATATEC GROUP H1 FY2007 Cash Generation ($ millions)

• First dividend payment

• Primary uses of cash:

– one-off working capital investments

– acquisitions

• Strong closing next cash position

Opening Net Cash 132

EBITDA 52Dividends (6)Working Capital (63)Acquisitions (24)Other (8)

Movement in Net Cash (49)

Closing Net Cash 83

112

132

83

0

20

40

60

80

100

120

140

H1 FY06 H2 FY06 H1 FY07

Net Cash ($ millions)

DATATEC GROUP Segmental Analysis

Westcon

AMG

MEA

Revenue

2%

3%

20%

75%

Logicalis

Westcon

MEA

Logicalis

AMG

Westcon

EBITDA

3%

22%

69%

MEA

Logicalis6%

AMG

Gross Profit

4%

54%

6%36%

WESTCON GROUP

WESTCON GROUP Highlights

• Interim revenues up 10% to $1.26bn with increases in all geographies

• Gross margin stable at 8.3%

• Operating expenses trimmed back to 5.2% of revenue from 5.8%

• EBITDA margins grew to 3.0% from 2.7%

• Ronco acquisition in H1 has expanded Nortel convergence offerings

• Big improvement in Europe’s financial contribution

WESTCON GROUP Financial Performance Summary

($ millions) Aug 2005 Aug 2006 Growth

Sales 1,127 1,250 11%

Gross Profit 96 * 103 7%

Gross Margin 8.5% 8.3%

Operating Costs 65 66 2%

Operating Margin 5.8% 5.2%

EBITDA 31 38 23%

EBITDA % 2.7% 3.0%

Dep & Amort 5 5

D&A % 0.4% 0.4%

Interest Expense, Net 3 4

Interest Expense % 0.2% 0.3%

Pre-Tax Income 23 28 22%

Pre-Tax % 2.1% 2.3%

* Includes once-off benefits

Financial Performance summary includes inter-group adjustments

WESTCON GROUP Revenue Trend – Six Months

$1,013

$1,140 $1,163

$1,259

$700

$800

$900

$1,000

$1,100

$1,200

$1,300

Sep-Feb Mar-Aug Sep-Feb Mar-Aug

2005 2006 2006 2007

$ m

illi

on

s

WESTCON GROUP Revenue by Geography - % of Revenue

Americas

Asia Pac

Europe

56%

36%

8%

Europe

Asia Pac

Americas54%

37%

9%

Consistent Geographic results

H1 FY 2006 H1 FY 2007

WESTCON GROUP Revenue Product Vendor Mix %

Cisco 59%

12%

15%6%

8%

Nortel

OtherSecurity

Avaya

OtherSecurity

Avaya

Nortel

Cisco 59%

10%14%

8%

9%

H1 FY 2006 H1 FY 2007

Cisco remains dominant vendor

WESTCON GROUP Gross Margin %

Including once-off benefits

H1 FY 2006H1 FY 2007

9.4%

7.0%

8.4% 8.5%8.5%7.8%

9.1%8.3%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

Americas Europe Asia Pacific Total

WESTCON GROUP Operating Expenses

$64$65 $63

$66

$60

$62

$64

$66

$68

Sep-Feb Mar-Aug Sep-Feb Mar-Aug2005 2006 2006 2007

$ m

illi

on

s

4.0%

4.2%

4.4%

4.6%

4.8%

5.0%

5.2%

5.4%

5.6%

5.8%

6.0%

6.2%

6.4%

6.6%

Op

era

tin

g E

xp

en

se

%

Operating expenses relatively constant despite high revenue growth

WESTCON GROUP EBITDA ($000’s)

EBITDA increases across all geographic regions.H1 FY2006

H1 FY2007

26.7

1.7 2.4

30.8

24.7

9.1

4.2

38.0

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

$35.0

$40.0

$45.0

Americas Europe Asia Pacific Total

Note: Americas results include US non-operating subsidiaries

WESTCON GROUP Consolidated Balance Sheet – Working Capital – US GAAP

($ millions) Aug 2005 Feb 2006 Aug 2006

Accounts Receivable $325 $321 $370

DSO (days) 55 51 56

Inventory $183 $189 $198

Inventory Turns 10.7x 11.2x 11.2x

Accounts Payable $324 $333 $360

DPO (days) 60 58 59

Current Ratio 1.5 1.6 1.6

Note: Ratios based on trailing twelve month results

WESTCON GROUP Consolidated Balance Sheet – Capitalisation – US GAAP

* Includes inter-company loan payable to Datatec which is eliminated in consolidation

($ millions) Aug 2005 Feb 2006 Aug 2006

Cash $135 $166 $156

Working Capital Lines 86 67 79

Notes payable - 40 40

Net Cash* 9 23 1

Equity 287 284 306

Debt to Capitalization 0.31 0.33 0.34

Liabilities to TNW 1.69 1.85 1.88

WESTCON GROUP Net Cash / Debt Trend ($ millions)

-$250

-$200

-$150

-$100

-$50

$0

$50

Mar

-01

Jul-0

1

Nov

-01

Mar

-02

Jul-0

2

Nov

-02

Mar

-03

Jul-0

3

Nov

-03

Mar

-04

Jul-0

4

Nov

-04

Mar

-05

Jul-0

5

Nov

-05

Mar

-06

Jul-0

6

($139,544,122) ($59,842,704) ($30,701,555) ($76,872,694) ($32,122,321)

WESTCON GROUP Headcount by Region

Region Aug 2005 Feb 2006 Aug 2006

Americas 435 451 476

Europe 426 454 457

Asia-Pacific 133 141 154

Total 994 1,046 1,087

WESTCON GROUP Future Outlook

• Cautious optimism with continued organic growth for the second half

• Increasing the focus on acquisition driven growth

• Enhanced logistics in North America should drive efficiency gains

• Further improvements in margins and profitability expected in Europe

LOGICALIS GROUP

LOGICALIS GROUP Highlights

• Revenues up 39% to $343m

• Organic growth of 11%

• Gross margin maintained at 20%

• EBITDA profits up 59% to $11.8m

• Continued growth in profitability in both the UK and US operations

• One acquisition completed during H1 FY 2007

• Offices opened in Chile and Peru

• Acquisition of IBM partner completed 1 September in US

LOGICALIS GROUP Financial Performance Summary

($ millions) Aug 2005 Aug 2006 Growth

Revenue 247,278 342,632 39%

Gross Profit 49,665 68,822 39%

Gross Margin 20.1% 20.1%

Operating Expenses 42,223 56,980 35%

Opex % 17.1% 16.6%

EBITDA 7,442 11,842 59%

As % of Revenue 3.0% 3.5%

Operating Profit 5,182 8,550 65%

As % of Revenue 2.1% 2.5%

Increased scale has produced stronger results in FY 2007

Notes:

Includes Datatec level inter-company transactions which eliminate on Datatec consolidation

LOGICALIS GROUP Revenue Geographic Split – as % of Revenue

H1 FY 2006 H1 FY 2007

North America

South America

UK

Germany

67%

26%

1%

6%

62%

32%

1%

5%

North America

South AmericaUK

Germany

North America generated 62% of revenue

LOGICALIS GROUP Revenue Segmental Split

Proportion of product in sales mix relatively constant

Product81%

ProfessionalServices

7%

H1 FY 2006 H1 FY 2007

ManagedServices

5%

Product80%

ProfessionalServices

8%

Maintenance8%

Managed Services

4%

Maintenance7%

LOGICALIS GROUP Revenue Product Vendor Mix

IBM remains most significant vendor partner

Others

H1 FY 2006 H1 FY 2007

IBM

Cisco

EMC

HP26%

28%

32%

4%

10%

HP

Cisco

Others

EMC

IBM

23%

38%2%

12%

25%

LOGICALIS GROUP Gross Margin %

22.7

27.2

18.721.5

20.120.9

34.8

19.0

23.120.1

0

5

10

15

20

25

30

35

UK Germany NorthAmerica

SouthAmerica

Total

H1 FY2006

H1 FY2007

Overall Gross margin % steady

LOGICALIS GROUP EBITDA ($ millions)

(1)123456789

1011121314

UK Germany North America South America

H1 FY2006

H1 FY2007

Continued growth in profitability in UK and US

Note: EBITDA pre IFRS 2 charges and head office costs

LOGICALIS GROUP Key Financial Measures

($’000) Aug 2005 Feb 2006 Aug 2006

Deferred Revenue 21,580 15,933 17,773

Inventory 10,349 14,536 17,216

Inventory Days (Excluding Spares Stock)

11 14 12

Accounts Receivable 75,862 87,468 115,555

DSO Days 54 47 53

Accounts Payable 66,658 97,145 90,480

DPO Days 76 82 75

Net Cash 30,913 26,605 (2,010)

Net cash reduction reflects acquisitive growth resulting in increased working capital requirements

LOGICALIS GROUP Headcount by Region

Region Aug 2005 Feb 2006 Aug 2006

North America 385 441 487

South America 186 201 230

Europe 295 343 400

Total 866 985 1,117

Increase predominantly due to acquisitions and growth in scale

LOGICALIS GROUP Recent Important Wins

US FinanceIP comms solution, services and $1.9mmanaged services

US Local Govt Datacenter build out $0.4m

US TechnologyThree year network managed $0.1mServices ($ per year)

UK ManufacturingServer upgrade and storage solution $3.5mfollowing SAP implementation

UK UniversityConsultancy, project definition and $875ksupply of initial network upgrade

UK FinanceCross sell of a computing/ $350kapplication integration project

UK ConstructionFive year managed services of $4.9m WAN/LAN/IPT and Data centre

South America

TelecomsRegional deal for Cisco MPLS $3.0mplus two year maintenance

South America

FinanceOutsourcing contract $1.2mto manage telecom infrastructure

LOGICALIS GROUP Future Outlook

• Optimistic about second half trading conditions

• Cisco Advanced Technologies still growing strongly

• Continuing to focus on growing the services mix

• Continue to evaluate acquisition opportunities

• Scale should drive further operating efficiencies

• Ian Cook – CEO, Logicalis European Operations – to succeed Jens Montanana in his capacity as Logicalis Group CEO from 1 March 2007 Jens to continue duties as Chairman of this division

ANALYSYS MASON GROUP

ANALYSYS MASON GROUP Overview

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 Mason’s input has become an indispensable part of any major telecoms initiative

• The group now employs approximately 330 professional consultants and support staff

Analysys Research

Telecoms research, publications

and benchmarking

Analysys Consulting

Strategy consulting and economic modelling in

the telecoms sector

Technical, business and management

consultingin telecoms

and high-tech

Contact centre,CRM andchange

management consulting

ANALYSYS MASON GROUP Highlights

• Non-UK international revenues now contribute 48% of total

• Modest revenue growth of 2% despite completion last year of large wireless network rollout

• Improvements in gross and net profits

• Debt free balance sheet with $9m of cash

ANALYSYS MASON GROUP Financial Performance Summary

($ millions) Aug 2005 Aug 2006 Variance %

Revenue 30,072 30,703 +2%

Gross Profit 10,331 11,201 +8%

Gross Margin 34.4% 36.5%

EBITDA 3,263 3,227 -1%

As % of Revenue 10.9% 10.5%

PBT 2,685 2,709 +1%

As % of Revenue 8.9% 8.8%

ANALYSYS MASON GROUP Revenue Geographic Split – as % of Revenue

H1 FY 2006 H1 FY 2007

UK

20%

1%52%

27%

USA

Rest of World

Europe

USA

Rest of World

Europe

UK67%

1%

14%

18%

ANALYSYS MASON GROUP Revenue Segmental Split

H1 FY 2007H1 FY 2006

Analysys Research

9%

Analysys Consulting

38%

Catalyst12%

Mason41%

Analysys Consulting

49% Analysys Research

8%

Mason35%

Catalyst8%

ANALYSYS MASON GROUP Gross Margin %

41.640.1

17.3

34.4

44.7

31.4

10.7

36.5

0

5

10

15

20

25

30

35

40

45

50

55

60

Mason AnalysysConsulting

AnalysysResearch

Catalyst Total%

28.7 30.6

H1 FY2006

H1 FY2007

ANALYSYS MASON GROUP EBITDA – ($000’s)

Mason ACL ARL Catalyst Total-500

$000

0

500

1,000

1,500

2,000

2,500

3,000

3,500

1,239 1,110

1,694

2,465

370

157162

-86

3,2633,227

H1 FY2006

H1 FY2007

ANALYSYS MASON GROUP Headcount by Division

Region Aug 2005 Feb 2006 Aug 2006

Mason 84 74 78

Analysys Consulting 76 80 83

Analysys Research 26 35 36

Catalyst 21 21 20

AMG Support Services (FTE’s) 47 47 48

Full Time Headcount 254 257 265

Associates 62 59 70

Total 316 316 335

ANALYSYS MASON GROUP Recent Important Wins

Analysys Consulting and Research Mason and Catalyst

Middle East operator – Fixed and mobile LRIC modelling - $900k

UK Department of Health – Ambulance radio programme $3.4m

Turkish operator – Cost modelling project - $700k UK Mobile Operator – Mobile network projects $3.2m

Leading investment bank – Due diligence of cable TV & 3G business plans - $240k

Transport for London – IT and telecommunications projects $770k

Italian operator – Development of mobile cost model - $375k

Norway Ministry of Justice – Tetra network procurement $450k

North African operator – Pricing and tariff advice - $290k

Sri Lanka – Core network roadmap strategy - $290k

Joint

Morocco operator – 3G license bid support - $500K

UK Development Agency – Procurement advice re: FibreSpeed - $405k

Asian Development Authority – Mobile interconnect framework review - $570K

ANALYSYS MASON GROUP Future Outlook

• Building critical mass in key geographies and content areas, e.g.:

– US, Asia

– Convergence, digital media research

• Telecoms industry is still forecast to grow steadily, market drivers include:

– Market liberalisation / privatisation

– Fixed/mobile convergence and quadruple play

– Development of IPTV and VOIP services

• Telecoms consultancy is also forecast to maintain growth levels, key drivers being:

– Geographic diversification

– Operations and outsourcing

– Business and strategic planning

– NGN, Broadband and VOIP services

DATATEC GROUP

DATATEC GROUP Market Conditions

• Outlook for the global IT industry remains favourable

• US market continues to be robust

• Europe inches forward

• Rest of the world including emerging markets showing strong growth

DATATEC GROUP Prospects

• Expecting continued revenue growth and profit margin expansion

• Improving contribution from Europe

• Considering a number of strategic acquisitions

• Plans to increase geographic footprint and extend services offerings

QUESTIONS