ANNUAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2006 PRESENTATION

06ANNUAL RESULTS

FOR THE YEAR ENDED 28 FEBRUARY 2006PRESENTATION

DATATEC GROUP

Performance Highlights

• Record revenues of $3 billion with strong growth in all operations

• Continuing margin expansion drove an acceleration in profits

• HEPS strong at 27c (Includes 1.8c from positive Lucent settlement)

• EBITDA operating profits of $85 million

• Consolidated gross margin percentage expanded by 10%

• Year end cash on hand of $172 million

• 4th year of continuing improvement in key financial ratios

DATATEC GROUP

Continuing Revenues

$2,525B

$2,976B

FY 2005 FY 2006

DATATEC GROUP

Revenues by Region

North America53%

South America2%

Europe36%

Asia6%

South Africa + ME3%

DATATEC GROUP

Gross Margin – Continuing Operations

$263.45M

$338.16M

FY 2005 FY 2006

DATATEC GROUP

EBITDA – Continuing

FY 2005 FY 2006

$28.4M

$85.2M

DATATEC GROUP

Total Headline Earnings per Share

FY 2005 FY 2006

3.59

26.91

US Cents

DATATEC GROUP

Net Cash

FY 2005 FY 2006

$140M

$172M

DATATEC GROUP

Segmental Analysis

Westcon

Analysys Mason

Logicalis

Revenue

79%

19%

2%

Gross Margin

59%

7%34%

EBITDA

74%

7%

19%

Westcon

Analysys MasonLogicalis

Analysys Mason

Logicalis

Westcon

DATATEC GROUP

Financial Performance - Summary

72,43711,406Operating Profit (excluding IFRS 2 charges)

3,468501IFRS2 – Share based payment charges

FY 2006

2.3%0.4%As % of Revenue

68,96910,905Operating Profit (including IFRS 2 charges)


88,61928,917EBITDA (excluding IFRS 2 charges)


249,545234,531Operating Expenses


338,164263,448Gross Profit

2,975,6352,524,769Revenue

FY 2005

Year Ended(US$000)

DATATEC GROUP

Future Outlook

• Continuing growth expected across the group, margins stable

• Revenue increases should be matched by growth in profits

• Moderating macro economic conditions

• European performance is improving

• Considering a secondary listing on AIM

• Distribution of 30 South African cents per share to shareholders

06World class portfolio in the international networking sector

WESTCON GROUP

Highlights

• Revenue increases $228 million to $2.3 billion. Increases in all geographic regions

• Gross margins increase from 7.7% to 8.5%, improved margins in all regions

• Operating expenses decrease $5.1 million or by 3.8% from FY 2005

• Significant increases in EBITDA, operating profit and PBT

• Americas and Asia Pacific performed above expectation for the year. Europe still slow

but an improvement over FY 2005

• New Senior Management hires, recruited General Manager of European Operations

• Company generated $37m in cash from operations

• New $150 million working capital facility and $40 million second lien term loan

WESTCON GROUP


(US$000) Year Ended

28 February 2005 28 February 2006

Revenue 2,055,015 2,283,398

Gross Profit 158,243 194,728

As % of Revenue 7.7% 8.5%

Operating Expenses 133,200 126,620


EBITDA (excluding IFRS 2 charges) 25,043 68,108


Operating Profit (excluding IFRS 2 charges) 15,420 58,334

IFRS2 – Share based payment charges - 1,473

Operating Profit (including IFRS 2 charges) 15,420 56,861


Interest 5,328 5,581

PBT 10,092 51,280

WESTCON GROUP

Revenue Geographic Split

Americas remain dominant

(% of revenue)

FY 2005

Americas

Asia Pacific

Europe

FY 2006

55%

7%

38%

55%

37%

8%

Americas

Europe

Asia Pacific

WESTCON GROUP

59%

10%

9%

7%

15%

FY 2005 FY 2006

Revenue – Product Vendor Mix %

CiscoNortel

Avaya

Security

Other

55%

11%

9%

10%

15%Other

Security

Avaya

Nortel

Cisco

Cisco remains dominant vendor

WESTCON GROUP

Gross Profit increases across all regions

Gross Profit %

7.9%

9.0%

7.3%7.6%

8.2%8.8%

7.7%

8.5%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

Americas Europe Asia Pacific Total

FY 2005

FY 2006

WESTCON GROUP

EBITDA increases across all geographic regions

Note: Americas results include US non-operating subsidiaries. Excludes intercompany management fees

EBITDA $000’s

$18,368

$55,273

$3,076$6,134 $3,600 $5,228

$25,043

$66,635

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

Americas Europe Asia Pacific Total

FY 2005

FY 2006

Note:Ratios based on trailing twelve month averages

WESTCON GROUP

Consolidated Balance Sheet - Working Capital - US GAAP

(US$, in millions) Feb 2005 Feb 2006

Accounts Receivable $283 $321

DSO (days) 50 51

Inventory $189 $189

Inventory Turns 10.1x 11.2x

Accounts Payable $283 $333

DPO (days) 54 58

Current Ratio 1.5 1.6

WESTCON GROUP

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

Consolidated Balance Sheet – Capitalisation - US GAAP

(US$, in millions) Feb 2005 Feb 2006

Cash $123 $166

Working capital lines 75 67

Notes payable - 40

Net Cash * 8 23

Equity 285 284

Debt to Capitalisation 0.29 0.33

Liabilities to TNW 1.52 1.85

WESTCON GROUP

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

-$250,000,000

-$200,000,000

-$150,000,000

-$100,000,000

-$50,000,000

$0

$50,000,000

Mar-

01

Jun

-01

Sep

-01

De

c-0

1

Mar-

02

Jun

-02

Sep

-02

De

c-0

2

Mar-

03

Jun

-03

Sep

-03

De

c-0

3

Mar-

04

Jun

-04

Sep

-04

De

c-0

4

Mar-

05

Jun

-05

Sep

-05

De

c-0

5

($139,544,122) ($59,842,704) ($30,701,555) ($76,872,694) ($32,122,321)

Net Cash / Debt Trend

WESTCON GROUP

Headcount by Region

Region Feb 2005 Feb 2006

Americas 444 451

Europe 470 454

Asia Pacific 134 141

Consolidated 1,048 1,046

WESTCON GROUP

Future Outlook

• FY 06 gross margin, of 8.5%, was helped by several positive one-off events

• Expect organic revenue growth to be in line with our major vendors: 9-12%

• Expect profits to grow in line with revenues

• Positioned to acquire distribution assets and companies which will strengthen our

capabilities and market share in VOIP, Security and Wireless

• Transitioning to an organisation based on sales groups which address customer

segments such as Voice, Security, etc., while internal staff remain dedicated to pursing

the vendor’s initiatives

Client focused approach makes us a dynamic solutions provider

LOGICALIS GROUP

Highlights

• Revenues up 60% to $546 million (16% organic growth)

• Gross Margin maintained at 20%

• EBITDA (before IFRS 2) up 83% to $17.8 million from $9.7 million

• Significant recovery in profitability of UK operations

• Five acquisitions completed during FY2006 (UK/US)

• Cisco Worldwide Enterprise Partner of the Year 2005

• Cisco European Service Partner of the Year 2005

• IBM Beacon award for US Enterprise Partner of the Year 2005

• $60 million new banking facilities established in UK and US

LOGICALIS GROUP


Note: Includes inter-company transactions which eliminate on Datatec consolidation

* 2005 Restated for IFRS2 charges

Trading in FY 2006 has produced results significantly better than FY 2005

(US$000) Year Ended


Continuing Continuing

Revenue 340,929 545,791

Gross Profit 72,162 109,182







IFRS2 – Share based payment charges 133* 1,043



Revenue - Geographic Split (continuing operations)

LOGICALIS GROUP

North America remains dominant

% of Revenue

FY 2005 FY 2006

North America

South America

United Kingdom

Germany

North America

73%

5%

21%

1%

Germany

United KingdomSouth America

62%

7% 30%

1%

LOGICALIS GROUP

Revenue - Segmental Split (continuing operations)

Product79%

ProfessionalServices

8%

Maintenance7%

FY 2005 FY 2006

ManagedServices

6%

Product revenue mix has increased

Product82%

Professional Services 8%

Maintenance6%

4%ManagedServices

LOGICALIS GROUP

Revenue - Product Vendor Mix %

FY 2005 FY 2006

IBM product was largest revenue segment

HP33%

27%

25%

3%

12%

Cisco

IBMEMC

Others

24%

39%

3%

9%

25%HP

Others

EMC

IBM

Cisco

LOGICALIS GROUP

Gross Margin % (continuing operations)

Overall gross margin down due to business mix

24.622.5

31.0 31.1

19.4 18.3

25.2

19.621.2

20.0

0

5

10

15

20

25

30

35

UK Germany NorthAmerica

SouthAmerica

Total

FY 2005

FY 2006

LOGICALIS GROUP

EBITDA ($ million - continuing operations)

Strong improvement in the UK with solid performance from the US

-2

0

2

4

6

8

10

12

14

UK Germany North America South America

FY 2005

FY 2006

Note: Excluding group costs

LOGICALIS GROUP

Key Financial Measures

US$000 Feb 2005 Feb 2006

Deferred Revenue 16,799 15,933

Inventory 9,805 14,536

Inventory Days (Excluding Spares Stock)

21 14

Accounts Receivable 56,938 87,468

DSO Days 58 47

Accounts Payable 50,065 97,145

DPO Days 75 82

Net Cash 56,881 26,605

Net cash reduction reflects cash cost of acquisitions

LOGICALIS GROUP

Headcount by Region

Region Feb 2005 Feb 2006

North America 354 441

South America 181 201

Europe 207 343

Total 742 985

Increase predominantly due to acquisitions

LOGICALIS GROUP

Recent Important Wins

US Finance SectorIBM, Cisco, EMC hardware plus three year managed service contract

$2.5m

US Mobile Telecom Annual Services contract $2.0m

USIT Disaster Recovery Services Provider

Ongoing investment in HP server and storage solutions

$7.5m

UK Major Telecom Operator Four year services contract $20.0m

UK Manufacturing IBM infrastructure solution refresh $5.9m

UK Business Management Large Cisco IP Telephony roll-out $5.0m

UK Major RetailerRenewal of three year managed services contract

$4.0m

South America

Major Telecom Operator Cisco solutions and support $12.0m

South America

Oil Major Cisco solutions and regional support $2.7m

LOGICALIS GROUP

Future Outlook

• Improved critical mass from complementary acquisitions

• Services continue to gain momentum, especially in UK

• Cisco Advanced Technologies growing strongly

• Steady growth expected from main system vendors (IBM/HP)

• Changes in HP channel strategy squeezing margins

• Planning for growth but remaining vigilant to changes in business confidence

• Acquisition opportunities being evaluated in US, UK and Germany

Quest for technological innovation driven by expertise

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 320 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


Highlights

• Revenue for the year rose by 15% to $60 million and EBITDA rose 89% to $6.3 million

• Analysys Research increased coverage of networked media and IT content

• Analysys Consulting increased US and emerging markets revenues

• Mason Communications increased its international revenues, strengthened its

position in the UK Public Sector and consulted on one of Europe’s largest

outsourcing deals

• Catalyst returned to profitability, strengthened its management and internal

operations

• On a Group basis, AMG continued to make market inroads with divisions

successfully bidding jointly on 36 projects worth $6.8 million or more, representing

11% of total revenue.



(US$000) Year Ended


Continuing Continuing

Revenue 52,058 59,750

Gross Profit 14,088 21,730







IFRS2 – Share based payment charges - 91



Revenue - Geographic Split

% of Revenue

FY 2005 FY 2006


Europe

Rest of World

63%

1%

17%

19%

UKUK75%

1%

8%

16%Europe

Rest of World

USA USA

Revenue - Segmental Split

FY 2005

Mason48%

Catalyst12%

FY 2006

Catalyst12%Mason

40%

Analysys Research

8%

Analysys Consulting 33%

Analysys Research

7%

Analysys Consulting

40%


Note: Feb 05 figures reflect results for 7 month period from formation in Aug 04. 28 Feb 2006 total figures exclude USD659k of

aborted acquisition costs. Certain inter group costs are reported in the total results only


EBITDA - $000

FY 2005

FY 2006

2,1342,442

1,494

3,860

138

508

(371)

637

3,340

6,223

-1000

0

1000

2000

3000

4000

5000

6000

7000

Mason ACL ARL Catalyst Total

Headcount by Division

Division Feb 2005 Feb 2006

Mason 82 74

Analysys Consulting 77 80

Analysys Research 25 35

Catalyst 25 21

AMG Support Services (FTE’s) 43 47

Associates 75 59

Total 327 316



Recent Important Wins

Analysys Consulting and Research Mason and Catalyst

Scandinavian incumbent – 2 year contract for OTS research content ($470k)

UK government body – technical support on national mobile radio implementation ($3.4m)

Development of Broadband strategy in Singapore ($300k)

UK utility network optimisation study ($540k)

Licence acquisition strategy support for bidders in Middle East and N Africa ($2.2m)

Major new area of UK Health sector – customer & IT strategy and operational improvement ($625k)

Spectrum allocation and trading strategy inc Digital Dividend review in UK ($1.5m)

Network management and business improvement programme for Global telecoms provider ($900k)

N European incumbent – 2 year contract for OTS research content ($375k)

Far East new 3G licence winner – creation of business build and master program ($500k)

Joint

Turkey fixed/mobile operator –post acquisition integration $3m (ACL & Catalyst)

Future Outlook

• Telecoms/IT environment remains stable• Management is addressing the following business issues:

Emphasis on marketing and growing brand awareness

Focus on margin performance of all business units within divisions

Improve productivity and enhance operational synergies

• “Hot” industry themes: 3G and Next Generation Network technology changes

Digital TV technologies (terrestial, cable TV and satellite)

Convergence of media and communications

Fixed-mobile convergence and triple/quadruple play services

Mergers and acquisitions and private equity interest in telecoms

Privatisations and telecoms market liberalisation in developing economies

Large scale regulatory initiatives in key markets

Government intervention to reduce “digital divide” between rich/poor, urban/rural


06QUESTIONS

Documents

ANNUAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2006 PRESENTATION