DATATEC GROUPUNAUDITED RESULTSFOR THE SIX MONTHS ENDED 31 AUGUST 2005

Jens MontananaCEO

DATATEC GROUP

Trading Environment

• Strong US and Asia markets, weaker Europe

• Higher energy prices creating inflationary pressures

• Global demand for IT continues to improve

• Services opportunities increasing

• Continental Europe continues to lag

• Currency volatility has diminished

DATATEC GROUP

Performance Highlights

• Revenue growth and market share gains in all operations

• Accelerating improvement in financial performance

• HEPS up strongly to 12c (includes 1.8c from positive Lucent settlement)

• Quadrupling of EBITDA operating profits to $40m

• Gross margins continue to expand

• Growing contribution from integration services and consulting

• Strong cash flow generated from operations

DATATEC GROUP

Revenues ($ million)

Continuing revenues grew by 14.2% from $1.2 billion to $1.4 billion

$1,251

$1,442

1H FY 2005 1H FY 20062H FY 2005

$1,287

DATATEC GROUP

Revenue by Region

North America55%

South America2%

Europe34%

Asia7%

South Africa + ME2%

DATATEC GROUP

Gross Margin ($ million)

$125

$163

1H FY 2005 1H FY 20062H FY 2005

$142

DATATEC GROUP

EBITDA ($ million)

$10

$40

1H FY 2005 1H FY 20062H FY 2005

$15

0.10

3.85

DATATEC GROUP

Total Headline Earnings Per Share

US Cents

1H FY 2005 2H FY 2005 1H FY 2006

12.02

DATATEC GROUP

Net Cash

Strong net cash position

$97m$112m

1H FY 2005 1H FY 20062H FY 2005

$140m

EBITDA

8%

18%

1%

73%

Gross Margin

4%

59%

7%30%

DATATEC GROUP

Segmental Analysis

Revenue

3%

78%

17%

2%

Westcon AMG Logicalis MEA

DATATEC GROUP

Future Outlook

• All divisions expected to continue delivering improving financial results

• Revenue increases should be matched by growing profitability

• Global growth may moderate

• Balance sheet and working capital management remains strong

• Management focused on best practices and appropriate growth strategies

• Board considering maiden dividend at year-end

WESTCON GROUP

WESTCON GROUP

Highlights

• Revenue exceeds $1.1 billion with increases over all geographic regions

• Gross Margin increases from 7.6% to 8.5%

• Company generates $10 million cash from operations

• Cost reduction initiatives accelerate growth in EBITDA and Pre-tax profitability

• Americas and Asia Pacific perform above expectations, Europe still slow but starting to improve

• “Thin office concept” being deployed in Eastern Europe and Asia

Revenue and gross margin trend - Six months

WESTCON GROUP

US$m

700

750

800

850

900

950

1,000

1,050

1,100

1,150

7.0

7.4

7.8

8.2

8.6

9.0

Gro

ss P

rofit

%

981 1,044 1,011 1,127

2H FY 2004 1H FY 2005 2H FY 2005 1H FY 2006

WESTCON GROUP

Revenue by Geography

Americas % increases on strength of increased Cisco market share

2H FY 2005 1H FY 2006

Americas Europe Asia Pacific

54%

38%

8%

56%

36%

8%

WESTCON GROUP

Revenue by Vendor

US Cisco market share increases in Q2 FY 2006

2H FY 2005 1H FY 2006

Cisco Nortel Avaya Security Other

53%

11%

10% 10%

16%

59%

10%

9% 8%

14%

Operating expenses

US$m

61

62

63

64

65

66

67

68

69

70

5.0

5.4

5.8

6.2

6.6

7.0

Op

era

ting

Expense

%

67.5 69.2 64.0 64.9

2H FY 2004 1H FY 2005 2H FY 2005 1H FY 2006

WESTCON GROUP

WESTCON GROUP

EBITDA ($M - continuing operations)

(a) Includes non-operating subsidiaries

H1 FY 2005 H1 FY 2006

0

$000

10

20

30

40

Americas (a) Europe Asia Pacific Total

3,6

26,7

5,0

1,7 1,3 2,4

9,9

30,8

Headcount by Region

Region Feb 2004 Aug 2004 Feb 2005 Aug 2005

Americas 432 439 444 435

Europe 509 486 470 426

Asia-Pacific 124 129 134 133

Consolidated 1,065 1,054 1,048 994

WESTCON GROUP

WESTCON GROUP

Consolidated results - Six month periods

(US$, in millions) Aug 2004 Feb 2005 Aug 2006

Sales 1,044 1,011 1,127

Gross Profit 79 79 96

Gross Profit % 7.6% 7.8% 8.5%

Operating Costs 69 64 65

Operating Costs % 6.6% 6.3% 5.8%

EBITDA 10 15 31

EBITDA % 0.9% 1.5% 2.7%

Dep & Amort 5 6 5

D&A % 0.5% 0.6% 0.4%

Interest Expense, Net 3 2 3

Interest Expense % 0.3% 0.3% 0.2%

Pre-Tax Income 2 7 23

Pre-Tax % 0.2% 0.7% 2.1%

*

* Includes profit of $4.3m from Lucent settlement

Note:Ratios based on trailing twelve month results

WESTCON GROUP

Consolidated Balance Sheet - Working Capital - US GAAP

(US$, in millions) Aug 2004 Feb 2005 Aug 2005

Accounts Receivable $299 $283 $325

DSO (days) 53 50 55

Inventory $204 $189 $183

Inventory Turns 9.3x 10.1x 10.7x

Accounts Payable $285 $283 $324

DPO (days) 55 54 60

Current Ratio 1.5 1.5 1.5

Consolidated Balance Sheet - Capitalization - US GAAP

(US$, in millions) Aug 2004 Feb 2005 Aug 2005

Cash $99 $123 $135

Working Capital Lines 97 75 86

Net (Debt) Cash (36) 8 9*

Equity 279 285 287

Debt to Capitalization 0.33 0.29 0.31

Liabilities to TNW 1.65 1.52 1.69

WESTCON GROUP

* Includes $40m inter-company loan payable to Datatec which is eliminated in consolidation

Note:Figures in US dollars. Dollar figure shown for each year represents average (debt) cash balance

for year

WESTCON GROUP

Net Cash / Debt Trend

-250

-200

-150

-100

-50

0

50

$mMar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep

2001 2002 2003 2004 2005

(139,544,122)

(59,842,704)

(30,701,555)

(76,872,694)

WESTCON GROUP

Future Outlook

• Revenue growth should be matched by lower operating cost %

• Profit growth and margin expansion will drive improving ratios

• Expect improvements in Continental Europe to feed through into better overall consolidated performance

• Strong performance in Americas, especially the US, should help underpin 2nd half

• Despite tightening of macro-economic conditions outlook remains favourable

LOGICALIS GROUP

LOGICALIS GROUP

Highlights

• Total revenues up 78% (27% organic growth)

• Market share gains in UK and US (rate of growth outstripped vendors)

• Operating leverage as gross margins increased more than operating expenses

• Transformation to an ICT integrator and services group largely complete

• #3 IBM partner in UK following TBC Group acquisition in September 2005

• Opened new managed service centres in UK and US

• Completed on $50M credit facility to fund growth

LOGICALIS GROUPFinancial Performance - Summary

Note:

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

Trading in first half of FY 2006 has been strong

(US$000) Half Year ended

31 Aug 2004 31 Aug 2005

Continuing Continuing Variance %

Revenue 139,136 247,278 78%

Gross Profit 29,094 49,665 71%

As % of Revenue 20.9% 20.1%

Operating Expenses 26,743 42,223 58%

As % of Revenue 19.2% 17.1%

EBITDA 2,351 7,442 217%

As % of Revenue 1.7% 3.0%

Operating Profit 733 5,182 607%

As % of Revenue 0.5% 2.1%

Revenue - Geographic Split (continuing operations)

68%

5%25%

2%

LOGICALIS GROUP

North America generated 67% of revenue

% of Revenue

H1 FY 2005

67%

6%26%

1%

H1 FY 2006

North America South America United Kingdom Germany

LOGICALIS GROUP

Revenue - Segmental Split (continuing operations)

Product75%

ProfessionalServices

9%

Maintenance8%

H1 FY 2005 H1 FY 2006

ManagedServices

8%

Product revenue mix has increased following IBM partner acquisition in US

(predominantly product business)

Product81%

ProfessionalServices

7%

Maintenance7%

ManagedServices

5%

LOGICALIS GROUP

Revenue - Product Vendor Mix %

H1 FY 2005 H1 FY 2006

Note:

Continuing operations only

IBM now one of three major vendors (better balance to business)

37%

36%

5% 4%

18%

HP

Cisco

IBM

EMC

Others

26%

32%

4%

10%

28%

HP

Cisco

IBM

EMC

Others

LOGICALIS GROUP

Gross Margin % (continuing operations)

Gross Margins were steady year on year

18.1

30.1

20.922.7

27.2

18.720.1

30.8

25.6

21.5

0

5

10

15

20

25

30

35

UK Germany North America South America Total

H1 FY 2005 H1 FY 2006

%

LOGICALIS GROUP

EBITDA ($M - continuing operations)

Good improvement in the UK with strong performance from the US

(1)

1

2

3

4

5

6

7

8

9

UK Germany North America South America

H1 FY 2005 H1 FY 2006

LOGICALIS GROUP

Key Financial Measures

US$000 Aug 2004 Feb 2005 Aug 2005

Deferred Revenue 17,506 16,799 21,580

Inventory 11,622 9,805 10,349

Inventory Days (Excluding Spares Stock)

17 15 11

Accounts Receivable 37,138 56,938 75,862

DSO Days 41 58 54

Accounts Payable 37,667 50,065 66,658

DPO Days 79 74 76

Net Cash 64,991 56,881 30,913

Net cash reduction reflects cash cost of acquisitions ($24.2M)

LOGICALIS GROUP

Headcount by Region

Region Aug 2004 Feb 2005 Aug 2005

North America 275 354 385

South America 177 181 186

Europe 207 207 295

Total 659 742 866

Increase predominantly due to acquisitions

LOGICALIS GROUP

Recent Important Wins

USPrinting Solutions Company

HP/EMC infrastructure plus managed services ($1.1m)

$2.6m

USGlobal Investment Services

Application development and integration

$2.0m

USInformation Management Provider

Major HP/IBM/EMC and Oracle database consolidation

$3.7m

UK Telecoms Sector Professional services $1.4m

UK InsuranceIP network, voice, data and video convergence plus support ($300k)

$0.9m

UK IT ServicesIP telephony, voicemail and video conferencing solution plus 5 years support ($500k)

$1.0m

UK Education Sector Virtual storage solution $0.7m

South America

Mobile Telecoms Company

Products and services $3.5m

South America

Major Telecom Company

Cisco products $7.3m

LOGICALIS GROUP

Future Outlook

• Management is addressing the following business issues:

- Process and system requirements for our increased scale

- Successful integration of UK acquisitions important

Breadth of solutions for customers

Achieving cost synergies

- Identifying and evaluating other suitable acquisition targets

• Remaining cautious on general economic outlook

• Historically IBM revenues strong in second half

• Expect continuing improvement in second half

ANALYSYS MASON GROUP

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 employs approximately 300 professional consultants and support staff

ANALYSYS MASON GROUP

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

• Successfully integrated the Analysys acquisition and now generating $650k per annum of infrastructure savings

• Proposal win rates and average order size for joint Analysys and Mason bids double those of pre merger

• Expanded geographic footprint, established Singapore office

ANALYSYS MASON GROUPFinancial Performance - Summary

Note:

31 Aug 2004 figures include 6 months’ results (Mason/Catalyst) and 1 month’s results (Analysys)

Half Year ended

31 Aug 2004 31 Aug 2005

$000 $000 Variance %

Revenue 19,150 30,072 +57%

Gross Profit 5,608 10,329 +84%

As % of Revenue 29.3% 34.3%

EBITDA 1,431 3,003 +109%

As % of Revenue 7.5% 10%

PBT 1,252 2,685 +114%

As % of Revenue 6.5% 9%

ANALYSYS MASON GROUP

Revenue - Geographic Split

% of Revenue

H1 FY 2005

67%

1%

14%

18%

H1 FY 2006

USA UK Europe Rest of World

1%

6%

4%

89%

ANALYSYS MASON GROUP

Revenue - Segmental Split

H1 FY 2005

Mason69%*

Catalyst20%*

Analysys Consulting9%**Analysys Research

2%**

Analysys Consulting38%

H1 FY 2006

Catalyst12%

Mason41%

Analysys Research9%

Note:31 Aug 2004 figures include 6 months’ results (Mason/Catalyst) and 1 month’s results (Analysys)

ANALYSYS MASON GROUP

Gross Margin %

36.1 36.1

11.2

29.3

41.640.1

17.3

34.4

0

5

10

15

20

25

30

35

40

45

50

55

60

Mason AnalysysConsulting

AnalysysResearch

Catalyst Total%

33.528.7

H1 FY 2005 H1 FY 2006

Note:31 Aug 2004 figures include 6 months’ results (Mason/Catalyst) and 1 month’s results (Analysys)

ANALYSYS MASON GROUP

EBITDA - $000

H1 FY 2005 H1 FY 2006

Mason ACL ARL Catalyst Total-500

$000$000

0

500

1,000

1,500

2,000

2,500

3,000

3,500

1580

1239

151

1694

9

370

-200

162

1431

3003

ANALYSYS MASON GROUP

Headcount by Division

Division Aug 2004 Feb 2005 Aug 2005

Mason 81 82 84

Analysys Consulting 79 77 76

Analysys Research 20 25 26

Catalyst 32 25 21

AMG Support Services (FTE’s) 50 43 47

Associates

75 75 62

Total 337 327 316

ANALYSYS MASON GROUP

Recent Important Wins

Analysys Consulting and Research Mason and Catalyst

Middle East – Fixed operator – International acquisitions ($1.0m)

W. Europe - Mobile operator - Network roll-out programme management ($4.1m)

European regulators – 3 Mobile interconnect projects ($940k)

UK – Transport – Mobile Radio Project management – ($710k)

W.Europe – Fixed operator – Off-the-shelf and custom research ($475k)

S. Europe – Mobile operator – EDGE/3G network procurement; Analysys follow-on ($145k)

Asia – Regulator – National Broadband strategy ($350k)

UK Public Sector – Technical support – ($140k)

Europe – Venture Capital – Operator purchase ($300k)

Mobile operator – Contact centre processes change management ($950k)

Joint

South Africa – Fixed and mobile operator – International acquisition ($1.0m)

Asia – Fixed operator – Response to privatisation ($630k)

Europe – Mobile operator – 3G Business plan and spectrum bid ($560k)

ANALYSYS MASON GROUPFuture Outlook

• Management is addressing the following business issues:

- Emphasis on marketing and building brand awareness

- Focus on margin performance of all business units within divisions

- Attention to recruitment and retention challenges

- Generating further integration gains and easing cross-divisional working

- Monitoring impact of incentive structure changes on culture and morale

• Telecoms/IT environment is stable

• “Hot” industry themes:

- Triple play

- Mobile content

- Fixed-mobile convergence

- Mergers and acquisitions

- Outsourcing

• Growth expected in a continuing competitive industry

QUESTIONS