Presentation of Results for Financial Year 2008/2009

August 2008 – December 2009

22 March 2010

Optimised Group Structure is Key to Success

This presentation is an outline of financial year 2008/2009, which included 17 months from 1 August 2008 through 31 December 2009. Starting from 1 January 2010, the financial year shall be identical with calendar one.

This presentation includes a summary of financial results for Q6 (November – December 2009) and for the entire financial year 2008/2009

In line with guidelines of the Financial Supervision Commission (KNF), the Company is not obliged to present comparable data for November – December 2008.

In FY 2008/2009 the consolidated net profit of the ACTION Group reached PLN 23.3 MM. In Quarter 6 a loss of PLN 3.6 MM was recorded, which was a result of optimisation of the Group's structure.

The separate result for ACTION S.A. for the period from January to December 2009 was PLN 45.0 MM.

ACTION GROUP IN FY 2008/2009 Period: 1 August 2008 — 31 December 2009

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[in PLN M] FY 2008/2009(17 months)

FY 2007/2008(12 months)

Q6 2008/2009(2 months)

Sales revenue  3,079,437 2,343,368 422,012Gross profit on sales 302,099 185,202 32,862Gross margin on sales 9.8% 7.9% 7.8%

Cost of sales and marketing 167,221 114,313 21,500Related to revenue 5.4% 4.9% 5.1%

General administrative costs 34,369 36,485 4,770Related to revenue 1.1% 1.6% 1.1%

Other revenue and profits 12,178 32,971 1,680Other costs and losses 74,637 10,085 11,489Operating result 38,050 57,290 -3,277Net financial costs 6,288 6,176 584Net result 23,326 33,790 -3,584Net profit margin 0.8% 1.4% -0.9%

SELECTED FINANCIALS Action S.A. Capital Group

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Costs that reduced the consolidated result of ACTION Group for Quarter 6:- loss on sale of shares of ACTION Ukraina - PLN 7,335 M- Provisions for liabilities - PLN 3,434 MTotal: - PLN 10,769 M

Projected result for ACTION Group without one-off eventsfor period: November — December 2009 (Quarter 6) is PLN 7,185 M

Projected annual result for ACTION Group without one-off events for entire financial year 2008/2009 is PLN 34,095 M

ONE-OFF EXPENSESon optimisation of Group structure

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OBJECTIVES FOR 2010

Develop the ACTIVE JET brand and expand target markets:- New brand for tenders- Growth of export- Office products market- Expansion of co-operation with retail chains

Increase the Group's share in consumer electronics distribution market:- Penetrate the market of small and medium-sized shops- Dedicated sales team for that segment

Take advantage of the synergy effect on co-operation with ACTION S.A. as a strong partner in logistics with numerous e-commerce clients:- Logistics- Nationwide drop shipping capabilities (Sferis and partner shops)- Authoritative community portal linked to a loyalty scheme

SFERIS COMPUTER RETAIL CHAIN

Sferis as at the end of 2009:- 46 own shops- 23 partner shops - 41 "island" stalls

Acquisition of Sferis partner shops - target: 50 partner shops at the end of 2010

Opening "island" stalls - retail of high margin products, particularly ActiveJet- Target: 90 island stalls at the end of 2010

Drop shipping program for e-commerce shops

Prestigious award won: Silver Consumer's Laurel 2009

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SFERIS

SFERIS

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"Island" stalls

SFERIS

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Partner shop

E-COMMERCE

GRAM.PL PROJECT

Launching drop-shipping deliveries for retail buyers of products sold online at www.gram.pl at Sferis shops (46 shops across entire Poland)

Keep increasing the number of visits – present: 820,000 unique users per month

Expand product range by adding consoles and console games

Launching a partner program and winning new affiliates

Launching pay-per-view content sales

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ONLINE DELICATESSEN A.PL

Further expansion by adding products that will distinguish A.pl among competition, i.e. ecologic food, fish and i seafood, high quality frozen meat

Achieved an order completion rate above 98%

Increased the number of orders by 103% (December 2009 compared to December 2008)

Increased sales by 157% (December 2009 compared to December 2008)

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THANK YOU

FOR YOUR ATTENTION

Contacts for the press and representatives of the capital marketAnna Bielińska – Corporate Communication Director

+48 22 332 16 96 Email: anna.bielinska@action.pl

Dominika Lenkowska – Martis CONSULTING

+48 22 244 57 09, Email: dominika.lenkowska@mc.com.pl