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POM Partners LLC
Global Consulting and Advisory Firm
Deep Domain Expertise and Rolodex
Digital Media, Technology & Business Services
Contact: Raj Das
rdas@pompartners.com
www.pompartners.com

POM Partners Coverage Universe
 Dedicated Coverage of Key Sectors in Digital Media Universe
Ad Networking Ad Serving Advergaming
Comparison Shopping Domain Monetization Email Authentication
Email Marketing Interactive Agencies Internet Effectiveness
Lead Generation Local Search Mobile Marketing
Podcast Advertising Rich Media / Video RSS Advertising
Search Engines Search Engine Marketing Social Networking
Web to Phone Web Analytics Widgets
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Trading Valuation Matrix
Interactive / Digital Providers
INTERACTIVE / DIGITAL PROVIDERS Stock Price Latest Twelve Months Projected
Stock Current 52-Wk 52-Wk Equity Total Total Enterprise EV / EV / EBITDA PE LT EPS
(All figures in millions of US$) Ticker 4/2/2009 High Low Value Debt Cash Value Revenue EBITDA Margin Ratio Growth
Baidu, Inc. BIDU $184.90 $382.90 $100.50 $6,379 $0 $390 $5,989 12.8x 32.0x 39.9% 42.0x 40.1%
Burst.com Inc. BRST 0.10 0.40 0.10 4 0 7 (3) NM NM NM NM NA
Constant Contact, Inc. CTCT 13.90 21.20 8.50 392 0 107 285 3.3 NM 0.9% NM 36.3%
Digital River Inc. DRIV 31.30 45.50 16.90 1,158 195 500 853 2.2 8.9 24.3% 19.6 13.6%
Google Inc. GOOG 362.70 602.50 247.30 114,504 0 15,846 98,659 4.5 12.1 37.3% 27.3 25.4%
GSI Commerce Inc. GSIC 13.40 18.20 5.70 647 245 130 762 0.8 12.9 6.1% NM 17.8%
IAC/InterActiveCorp. IACI 15.80 50.50 13.20 2,226 96 1,871 474 0.3 7.3 4.5% NM 10.0%
Keynote Systems Inc. KEYN 8.50 14.30 6.30 120 0 51 69 0.9 10.8 8.0% NM 15.0%
LBI International AB OM:LBI 1.50 3.60 1.00 93 52 24 122 0.5 4.7 11.7% 7.5 NA
Lyris, Inc. LYRI 0.30 0.90 0.20 31 10 1 40 0.9 23.6 3.9% NM NA
Marchex, Inc. MCHX 3.80 14.20 3.00 136 0 27 108 0.7 5.2 14.2% NM 20.2%
Microsoft Corporation MSFT 19.30 32.10 14.90 171,589 2,000 20,298 153,291 2.5 5.9 41.9% 10.2 10.7%
Rakuten, Inc. JASDAQ:4 487.70 678.30 422.00 6,389 5,427 2,960 8,952 3.2 12.8 25.4% NM 18.5%
Sina Corp. SINA 24.60 58.60 17.90 1,373 99 604 868 2.3 9.7 24.1% 16.4 22.7%
Unica Corp. UNCA 5.10 9.40 3.10 106 0 47 60 0.5 27.1 1.8% NM 35.0%
ValueClick Inc. VCLK 9.10 21.00 4.70 790 0 125 665 1.1 5.9 18.2% NM 15.3%
Yahoo! Inc. YHOO 13.00 29.70 8.90 18,125 77 3,452 14,768 2.0 11.1 18.3% 43.3 18.5%
Mean $19,062 $482 $2,732 $16,821 2.4x 12.7x 17.5% 23.7x 21.4%
Median 790 10 130 665 1.6 10.8 16.2% 19.6 18.5%
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Trading Valuation Matrix
Advertising Agencies
ADVERTISING AGENCIES Stock Price Latest Twelve Months Projected
Stock Current 52-Wk 52-Wk Equity Total Total Enterprise EV / EV / EBITDA PE LT EPS
(All figures in millions of US$) Ticker 4/2/2009 High Low Value Debt Cash Value Revenue EBITDA Margin Ratio Growth
Aegis Group plc LSE:AGS $1.30 $2.00 $0.70 $1,506 $1,035 $605 $1,898 1.0x 5.8x 16.8% 13.0x 7.8%
Dentsu Inc. TSE:4324 16.00 26.70 12.90 3,971 1,374 680 4,915 0.2 6.6 3.4% 26.7 NA
Havas ENXTPA:H 2.80 4.00 1.70 1,204 1,393 1,017 1,583 0.6 4.9 13.2% 7.0 10.6%
Interpublic Group of Companies Inc. IPG 4.90 10.50 2.60 2,334 2,120 2,275 2,704 0.4 3.3 11.9% 9.8 12.0%
MDC Partners Inc. MDCA 3.50 9.10 2.20 97 182 41 260 0.4 4.8 9.4% NM 15.0%
Omnicom Group Inc. OMC 26.10 50.20 20.10 8,114 3,073 1,112 10,306 0.8 5.4 14.4% 8.2 8.9%
Publicis Groupe SA ENXTPA:P 28.10 35.70 20.30 5,508 2,153 1,212 6,491 1.0 5.2 18.9% 9.4 7.8%
WPP plc LSE:WPP 6.00 9.60 4.40 7,517 8,218 3,748 12,275 1.1 6.8 16.5% 12.0 6.9%
Mean $3,782 $2,443 $1,336 $5,054 0.7x 5.3x 13.1% 12.3x 9.9%
Median 3,153 1,756 1,065 3,809 0.7 5.3 13.8% 9.8 8.9%
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Trading Valuation Matrix
Data Service Providers
DATA SERVICE PROVIDERS Stock Price Latest Twelve Months Projected
Stock Current 52-Wk 52-Wk Equity Total Total Enterprise EV / EV / EBITDA PE LT EPS
(All figures in millions of US$) Ticker 4/2/2009 High Low Value Debt Cash Value Revenue EBITDA Margin Ratio Growth
Acxiom Corporation ACXM $7.80 $15.10 $6.40 $609 $580 $138 $1,051 0.8x 3.1x 25.1% NM 12.5%
Alliance Data Systems Corporation ADS 37.70 67.70 22.80 2,247 2,416 157 4,506 2.2 7.6 29.3% 12.6 15.4%
Dun & Bradstreet Corp. DNB 78.70 98.90 64.00 4,218 905 164 4,965 2.9 9.5 30.2% 14.1 NA
Equifax Inc. EFX 26.10 40.00 19.40 3,294 1,219 58 4,455 2.3 6.9 33.4% 12.4 10.3%
Experian plc LSE:EXPN 7.00 7.10 3.70 7,178 2,783 184 9,925 2.3 8.7 26.1% 14.0 8.5%
Fair Isaac Corp. FIC 15.20 27.80 9.80 742 570 212 1,099 1.5 6.6 23.2% 9.5 5.0%
Harte-Hanks Inc. HHS 6.40 14.30 4.40 406 271 30 647 0.6 4.2 14.2% 6.4 4.0%
infoGROUP, Inc. IUSA 4.60 7.70 2.20 263 301 6 558 0.8 4.9 15.4% 46.0 NA
Intersections Inc. INTX 5.10 13.30 1.90 88 47 16 120 0.3 2.9 11.4% NM NA
Reed Elsevier plc LSE:REL 7.30 9.90 6.40 8,050 0 0 8,050 NA NA NA 24.3 10.0%
Thomson Reuters Corporation TSX:TRI 27.50 32.10 20.00 22,778 7,519 841 29,638 2.5 11.2 22.7% 15.3 8.0%
Valassis Communications Inc. VCI 1.80 16.80 1.10 87 1,203 127 1,163 0.5 5.8 8.4% NM 10.0%
Mean $4,163 $1,484 $161 $5,515 1.5x 6.5x 21.8% 17.2x 9.3%
Median 1,494 742 132 2,809 1.5 6.6 23.2% 14.0 10.0%
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Trading Valuation Matrix
BPO Providers
BPO PROVIDERS Stock Price Latest Twelve Months Projected
Stock Current 52-Wk 52-Wk Equity Total Total Enterprise EV / EV / EBITDA PE LT EPS
(All figures in millions of US$) Ticker 4/2/2009 High Low Value Debt Cash Value Revenue EBITDA Margin Ratio Growth
Cognizant Technology Solutions Corp. CTSH $22.20 $37.10 $14.40 $6,478 $0 $763 $5,715 2.0x 9.7x 21.0% 15.9x 21.4%
Infosys Technologies Ltd. BSE:5002 28.30 40.20 20.70 16,210 0 1,989 14,221 3.0 9.3 32.7% 12.9 13.0%
Patni Computer Systems Ltd. BSE:5325 2.60 5.80 1.90 333 0 60 273 0.4 2.8 15.1% 3.7 5.0%
Sapient Corp. SAPE 4.90 10.00 3.30 624 0 173 451 0.7 5.5 11.9% 9.8 17.3%
Syntel Inc. SYNT 22.10 38.00 16.10 917 0 132 785 1.9 7.0 27.4% 10.5 20.4%
Tata Consultancy Services Limited BSE:5325 11.50 21.00 8.30 11,254 105 661 10,772 1.9 7.1 27.2% 10.5 11.6%
Wipro Ltd. BSE:5076 5.40 10.70 3.60 7,862 977 1,206 7,637 1.5 7.7 19.6% 10.8 11.3%
Mean $6,240 $155 $712 $5,694 1.6x 7.0x 22.1% 10.6x 14.3%
Median 6,478 0 661 5,715 1.9 7.1 21.0% 10.5 13.0%
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Trading Valuation Matrix
Miscellaneous Media Firms
MISCELLANEOUS MEDIA FIRMS Stock Price Latest Twelve Months Projected
Stock Current 52-Wk 52-Wk Equity Total Total Enterprise EV / EV / EBITDA PE LT EPS
(All figures in millions of US$) Ticker 4/2/2009 High Low Value Debt Cash Value Revenue EBITDA Margin Ratio Growth
AT&T, Inc. T $26.50 $40.70 $20.90 $156,172 $74,991 $1,792 $229,371 1.8x 5.3x 34.6% 12.0x 7.1%
CBS Corporation CBS 4.70 25.00 3.10 3,192 6,996 420 9,768 0.7 3.6 19.3% NM 4.9%
Cisco Systems, Inc. CSCO 18.10 27.70 13.60 105,650 6,848 29,531 82,985 2.1 7.8 26.8% 13.9 11.3%
Convergys Corporation CVG 9.00 17.00 4.00 1,112 666 240 1,537 0.6 6.3 8.8% NM 10.2%
General Electric Co. GE 10.70 38.50 5.70 113,088 9,161 10,701 111,548 0.6 3.3 18.5% 6.3 9.3%
Intel Corporation INTC 15.70 25.30 12.10 87,323 1,988 11,843 77,468 2.1 5.4 38.0% 17.4 11.1%
International Business Machines Corp. IBM 100.80 130.90 69.50 135,243 34,138 12,907 156,474 1.5 6.7 22.5% 11.3 10.8%
Meredith Corp. MDP 18.60 39.80 10.60 837 455 33 1,259 0.8 4.9 16.8% 8.9 NA
News Corp. NWSA 7.50 19.80 5.00 19,619 13,273 3,621 30,123 0.9 5.2 17.8% NM 10.8%
Nokia Corp. HLSE:NO 13.40 29.90 9.00 49,623 7,512 10,975 49,377 0.7 4.7 14.7% 8.9 4.0%
NTT DoCoMo, Inc. TSE:9437 1,418.90 1,809.20 1,299.50 59,310 7,079 5,838 60,568 1.2 3.2 37.9% 9.9 NA
Oracle Corp. ORCL 18.80 23.60 13.80 93,688 11,238 11,294 93,632 4.0 9.0 44.0% 17.1 14.1%
QUALCOMM Inc. QCOM 41.30 56.90 28.20 68,124 157 9,009 59,272 5.3 14.0 37.7% 25.8 15.5%
Time Warner Inc. TWX 21.70 50.70 17.80 25,962 39,683 6,682 62,682 1.3 4.7 28.4% NM 12.5%
Viacom, Inc. VIA.B 19.30 41.50 11.60 11,702 8,002 792 18,950 1.3 5.7 22.9% 9.7 10.9%
Yell Group plc LSE:YELL 0.20 3.10 0.20 157 6,373 106 6,425 1.9 6.1 31.2% 0.7 NA
Mean $58,175 $14,285 $7,236 $65,715 1.7x 6.0x 26.2% 11.8x 10.2%
Median 54,466 7,295 6,260 59,920 1.3 5.4 24.9% 10.6 10.8%
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