China Online Payment Overview

Slide 1: China Payment Overview WILLIAM BAO BEAN SOFTBANK CHINA & INDIA HOLDINGS March 2008

Slide 2: China Internet and eCommerce background  220m Internet users as of March 2008  2006: 43m online shoppers spending US$4.3bn  2007: 55m online shoppers spending US$8.25bn  Taobao 75% of turnover or US$6.1bn Source: BDA China, CIRC 2

Slide 3: China bank network overview  180 banks, 740,000 outlets, 120,000 ATMs  1.5m bank cards. 75m credit cards vs 52m in 2006  Int’l China bank cards 26 countries, 125,000 outlets and 365,000 ATMs Units: m 1600.0 1400.0 1200.0 1000.0 800.0 600.0 400.0 200.0 0.0 2002 2003 2004 2005 2006 Sep-07 Jan-08 Mar-08 Source: CUP 3

Slide 4: Chinese New Years 2008 report  Card spend US$4.03bn vs US$2.52 in 2007  Transactions 66.4m vs 44.3m in 2007  Domestic retail sales US$36bn up 16% in spite of storms  Int’l card spend US$225m vs US$157m in 2007  Domestic average spend per transaction US$60, Int’l US$417 Source: CUP 4

Slide 5: China OTA customers rising Units: m eLong Ctrip 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 5

Slide 6: Customer concentration in top cities falling eLong Ctrip 80% 75% 70% 65% 60% 55% 50% 45% 40% 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 6

Slide 7: Guaranteed allotment hotels rising eLong Ctrip 4000 3500 3000 2500 2000 1500 1000 500 0 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 7

Slide 8: Guaranteed allotment hotels bulk of bookings eLong Ctrip 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 8

Slide 9: eTickets almost all transactions eLong Ctrip 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 9

Slide 10: Online transactions stable Units: m eLong Ctrip 0.4 0.3 0.3 0.2 0.2 0.1 0.1 0.0 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 10

Slide 11: Package sales still small RMB:m eLong Ctrip 25 20 15 10 5 0 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 11

Slide 12: Outbound air 15% of sales, 4-7% of volume Units: % eLong Ctrip 0.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 12

Slide 13: Bank card purchases of air tickets rising Units: % eLong 0.6  eLong 48%  Ctrip 60-70% 0.5  ETpass 30% 0.4  Yoee 60% 0.3 0.2 0.1 0.0 1Q07 2Q07 3Q07 4Q07 Source: SBCI, Company reports 13

Slide 14: SoftBank China and India Holdings Bodhi Investments LLC  Founded 2006  Strategic backers SoftBank Corp. of Japan and Cisco  Target markets  China and India  Selected South East Asian countries  Target industries  Internet and software, telecom value-added services, converged media and entertainment  Target companies  Early stage and selected pre-IPO opportunities  5 investment professionals with offices in Shanghai and Bangalore  Investment decision process independent of SoftBank and Cisco 14

Slide 15: Thank You! William Bao Bean Partner wbean@softbankci.com +86 139 1789 8171 +852 9131 0218 15