GoYellow Media AG

Half Year Results 2006

July 19, 2006

p. 2 // GoYellow Media AG, financial results Q2/2006

— Status Q2 2006

— Outlook Q3

— Financial Key Figures

Agenda

p. 3 // GoYellow Media AG, financial results Q2/2006

Renaming into GoYellow Media AG

— GoYellow Media AG since 19.06.2006 (after 99,9%-agreement of ordinary shareholders‘ meeting on May 17, 2006)

— June 6, 2006 decision of county court Munich (1st authority, not yet legally binding) Yello Strom against GoYellow: Company is not allowed to carry on the name GoYellow

no impact on the operative business until decision of Federal Court of Justice

incomplete press release of county court Munich led to uncertainty among GoYellow-customers

— Decision of German office for brands and patents on deletion of Gelbe Seiten and Yellow Pages is expected these days.

Company

p. 4 // GoYellow Media AG, financial results Q2/2006

Monthly customer acquisition rate seven times higher than in Q1

— Customer acquisition could be increased noticeably.

— Traffic is on the level of Ex-monopolist Gelbe Seiten

— Seach Engine Optimization has been reinforced More advantages for GoYellow-customers

— Advertisement platform on basis of free telephone servicecost recovery and generation of turnover

Status GoYellow

p. 5 // GoYellow Media AG, financial results Q2/2006

Status GoYellow

Continuous product development

More user thanksto useful local information

p. 6 // GoYellow Media AG, financial results Q2/2006

Start of GoYellow printed pages in Berlin

— Start of sales end of May 2006 first balance is satisfying

— The Gelbe Seiten-publisher in Berlin tries, to keep GoYellow away from the market by distributing flyers and mailings

Status GoYellow

p. 7 // GoYellow Media AG, financial results Q2/2006

Status Telephony Services

Good conditions for an automated low-priced telephone DA-service

— Market leaders Telekom and Telegate considerably raised their prices per minute

clear advantage for marketing the low-priced telephone DA service 11810

— Negotiations with marketing and co-operation partners for all three DA numbers 11810 / 11886 / 11884

— Co-operation agreement (signed on July 17, 2006) with value-added service provider for 11886

p. 8 // GoYellow Media AG, financial results Q2/2006

Further increase of new customers‘ rate

— The most effective customers‘ aquisition methods will be expanded

— Relaunch of GoYellow.de: new layout, more offers for GoYellow-customers,further information (e.g. temperatures for lakes, cinema programs etc.)

— Closure of sales focussed co-operations with vertical online-portals:

Apotheken.de (9.000 pharmacies)

HRS (11.000 hotels can be booked via maps)

My Hammer.de (auction offers of German craftsmen)

Ticket provider (local concert and event dates, tickets to be booked directly via GoYellow)

Outlook GoYellow

p. 9 // GoYellow Media AG, financial results Q2/2006

Outlook GoYellow

— the GoYellow free telephone service has been developed into an advertising platform

— Sales to big Internet portals (eg. Autoscout, start on July 19, 2006)

— the new portal for free internationaltelephone calls will start by the end of July

turnover generated from advertisement

— both platforms offer a very targetedadvertisement without any loss of attention

Launch of Peterzahlt.de

p. 10 // GoYellow Media AG, financial results Q2/2006

Expansion of the printed business / new regions and sales partners

Outlook GoYellow

— Coverage of new licence areas of the children‘s yellow pages

— Co-operation with alternative yellow pages publishers

— Analysis of further possible regions to market the GoYellow printed pages

GoYellow Media AG, financial results Q2/2006p. 11 //

Offensive marketing of 11810

— broader and more offensive marketing of 11810 as the low-priced telephone DA-service

— use the call center for outbound activities (sales GoYellow)

— start of exclusive co-operation with value-added service provider for 11886monthly potential of turnover: 300,000 Euro

Outlook telephony services

— Financial key figures 1st half year 2006

GoYellow Media AG, financial results Q2/2006p. 12 //

p. 13 // GoYellow Media AG, financial results Q2/2006

Kennzahlen der G & VKey Figures Income Statement

in k€ Q2 2006 Q2 2005*

Turnover 618 4,849

EBIT -4,950 -5,349

Net profit / net loss -4,639 -5,291

Net income per share in € -1.0 -1.26

* includes the business segment DA-solutions, wich was sold on 30.12.2005

p. 14 // GoYellow Media AG, financial results Q2/2006

Kennzahlen der G & VKey Figures Income Statement

Q2 2006 in €Thousands DA solutions GoYellow Telephony

Services Holding Consolidation Group

Turnover - 203 533 0 -118 618

Operative costs - -4,697 -1,155 166 118 5,268

EBIT - -4,494 -622 166 0 -4,950

Net profit / net loss - -4,494 -377 232 0 -4,639

Q2 2005 in €Thousands DA solutions GoYellow Telephony

Services Holding Consolidation Group

Turnover 4,117 116 871 - -255 4,849

Operative costs -3,579 -5,316 -1,558 - 255 -10,198

EBIT 538 -5,200 -687 - 0 -5,349

Net profit / net loss 584 -5,200 -675 - 0 -5,291

p. 15 // GoYellow Media AG, financial results Q2/2006

Kennzahlen der G & VKey Figures Balance Sheet

in T € 30.06.2006 30.06.2005*

Free Cash 5,557 4,292

Trade accounts receivable 2,975 12,065

Debt 0 0

Stockholders' equity 11,227 12,446

Total assets 20,413 27,543

* includes the business segment DA-solutions, wich was sold on 30.12.2005