Public Offer Doradztwo Gospodarcze DGA S.A. IPO 2003 PRESENTATION Modern consulting services for the Great Ones of tomorrow

Public OfferDoradztwo Gospodarcze DGA S.A.

IPO 2003 PRESENTATION

Modern consulting services for the Great Ones of tomorrow

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Contents

© DGA 2003

• About us

• Our products

• Why choose us?

page 3

Investment opportunityin a strong Polish consulting firm

© DGA 2003

• Poznań-based consulting firm with 14 years experience

• Unique combination of business consulting services and IT solutions

• Poland’s access to the EU is a unique opportunity for rapid growth

• Turn-key customer services:- business consulting – Doradztwo Gospodarcze DGA S.A.

- audiiting, book-keeping, taxes – Usługi Audytorskie DGA Sp. z o.o.

- legal advice – Kancelaria Prawna Marcin Piszcz i Wspólnicy Spółka

Komandytowa

about uswe’re competent...

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Consulting services market in Europe

© DGA 2003

Consulting services in Europe• EUR 46.5 billion of revenues in 2003 • 57,000 consulting firms• 300,000 management consultants• 0.42% - the share of consulting firms in GDP total

Source: FEACO, 2002 – Survey of European Management Consulting Market

about uswe're competent...

BCbusiness

consulting

CFinvestment

banks

BCin business structures

HRhuman

resources

ITIT companies

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© DGA 2003


Structure of the consulting services market in Europe

Source: Kennedy Information, Inc.

Excellent forecasts for the Polish consulting services market

0.10.20.30.40.50.60.70.80.91

0 500 1000 1500 2000 2500 3000

Gross Domestic Product (EUR bln)

GD

P t

o c

onsu

ltin

g f

ees

rati

o

Consulting services market in relation to the economic potential of European countries

Belgium

Hungary

Bulgaria

Slovenia

Denmark

Switzerland

Austria

Portugal

Romania

Germany

France

Italy

Spain

Russia

Greece

Poland

UK

Poland

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© DGA 2003


Revenues structure in EuropeProjected growth of the

world market of consulting services

3.1% CAGR

$ 119.1 $ 119.1

$ 123.4

$ 130.6

110

115

125

130

135

2002 2003 2004 2005

Con

su

ltin

g s

erv

ices r

even

ues w

orl

dw

ide (

in U

SD

billion

)

Source: FEACO, 2002 – Survey of EMCM

120

Source: Kennedy Information, Inc.

Operations Management

IT-Consulting / Implementation

Corporate Strategy Services

Outsourcing Services

Humans Resources Consulting

Human Resources

Consulting

10.7 % IT Consulting/

Implementation

28.5 %

Operations Management

28.2 %

Corporate Strategy Services

19.9 %

Outsourcing Services

12.7 %

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© DGA 2003


DGA - a major player on the Polish consulting services market

DGA - the leader of the Polish consulting services market – 2002

1. DGA S.A. PLN 12.0 million2. EVIP GF PLN 11.2 million

3. Doradca Consultans PLN 6.0 million

4. Frąckowiak i Wspólnicy Konsulting Sp. z o.o. PLN 6.0 million

5. Pro-Invest PLN 2.9 million

Dominant position in the Wielkopolska region

1. DGA S.A. PLN 12.0 million

2. Frąckowiak i Wspólnicy Konsulting Sp. z o.o. PLN 6.0 million

3. CEG, Finansista, TEB

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DGA - a major player

© DGA 2003


on the Polish consulting services market

Other players on the consulting services market

IT Sector

• IMG – PLN 44 million – 110 people• Infovide – PLN 14.8 million – 33

people• Plaut – PLN 11.5 million – 30 people

„The Big Four”

• ABC – PLN 65.9 million – 104

people• Accenture – ...... – 159 people• Deloitte & Touche – ..... – 57

people• KPMG – ....... – 50 people

450 companies accredited by PARP (Polish Agency for Enterprise Development)

DGA – we have 75 consultants today and are still growing...

our customers keep coming back

13.2

2.0

1.4page 9

DGA - constant growth

© DGA 2003


taking care of shareholders

Dynamic growth

0

2

4

6

8

10

12

14

16

1990 1995 1996 1997 1998 1999 2000 2001 2002 2003

lata

Proc

eeds

0

0,5

1

1,5

2

2,5

3

Net

pro

fit

proceedsnet profit

*)

952

1333

928

5. No. of- full-time employees- consultants

6. Revenue on sales (in PLN million)

7. Gross profit (in PLN million)

8. Net profit (in PLN million)

4,783,772,334. Equity (PLN million)

2,011,820,54

17.9%11.9%

12.4%10.4%

1,82

3.2%7.5%

29.440.721.3

20022001 2000

Basic ratios

2. Return on sales- gross- net

Ratio

1. Return on Equity (RoE)

*) 2001 - a contract with the World Bank including a major number of subcontractors

6.6

0.7

0.5

11.8

1.9

1.4

3. EBITDA (PLN million)

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Transparent structure

© DGA 2003


organizational and technical potential

Management Board

MarketingDepartament

Business SupportDepartaments

Key personnel

• 7 yearsJacek Musiał

• 6 yearsPaweł Radziłowski

• 10 years

• Management and Finance• 13 years

Area of activityPosition

• Jacek Musiał

• Management Consulting, IT Products

• Paweł Radziłowski

• Business Consulting• Waldemar Przybyła

• European Union Services• Anna Szymańska

• Andrzej Głowacki

Yearsin DGA

• 13Years

• Vice-President of the Board




• President of the Board

• Infra-Structure Projects

NameOur people

75 consultants very low

rotation motivative

wages

scheme high wages regular training

program

Our potential

Knowledgeable in

ISO 9001:2000

management system without a single

sheet of paper ISO 17799 SCALA system to be

implemented soon

Management model

highly independent

departments

accountable for their

profits and revenues

with common working

procedures – info.dga sales unit in every

department

Our strenghts

Business Consulting European Union ServicesManagement Consulting

IT Products

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DGA - our competitive edge

© DGA 2003


First of all, our customers...

Our achievements...

• mergers - PKE, ENEA• ISO implementation – KHW,

CU• training - World Bank

World Bank

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DGA - our competitive edge

© DGA 2003


Competent, vigorous and highly-motivated team

Modern DGA equipment and experienced team of consultants

Constant product developmentNew products in 2003:

• Export loan insurance• BS 7799• Project fiches (UE)• DGA Process v.2

Business consulting supported by IT solutions (DGA QUALITY, DGA PROCESS)

Info.dga vortal , CRM,ISO systems and procedures

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Risk diversification

© DGA 2003

and turn-key customer services

Management Consulting

• Restructuring of business

processes

• Quality management systems

• Support for implementing

software systems

• IT consulting services

• Information security

1997

European Union Services

• Regional development plans and

strategies

• Projects and applications for

assistance and structural funds

• Project management

• Development of human resources

• Public and private partnership

2003

Business Consulting

• Financing export projects

• Corporate Finance

• CRM

• Restructuring and

outsourcing

• Strategy and BSC

• Controlling of operations

1990

IT Products

• DGA Process: business

process modeling tool

• DGA Quality: quality

systems implementation

software

• DGA Workflow: workflow

management system

• DGA Learning

• DGA Project Managment

• DGA Controlling

• DGA BSC

2001

our productswe're efficient...

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© DGA 2003

BUSINESS CONSULTING


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Business Consulting

© DGA 2003

Trends/Growth Basis

Growth tendency in the consulting services market worldwide, ca. 3-8% per annum. Consulting services in Poland account for 0.14% of the GDP (Poland ranks 19th among

20 FEACO members). The demand for consulting services in marketing, business strategies, human

resources management and CRM will grow in the near future. UE funds for adaptation to market changes are likely to increase the demand for

consulting services (SME sector).

Competitors: Cap Gemini Ernst & Young, Deloitte & Touche, PricewaterhouseCoopers, KPMG, EVIP, Doradca, Pro Inwest, BRE Corporate Finance, SJOS


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© DGA 2003

Flagship Business Consulting projects

Establishment of Grupa Energetyczna ENEA in Poznań (merger

of 5 power supply companies). Formation of Południowy Koncern Energetyczny in Katowice

(merger of 8 power plants). Participation in the amicable proceeding of NETIA. Sales transactions of Treasury stock: Wierzynek, Bester, etc. Restructuring the assets of Telewizja Polska S.A. Polska Grupa Farmaceutyczna S.A. – framework of a CRM

system.


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© DGA 2003

MANAGEMENT CONSULTING


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Business processes and information management

© DGA 2003

Competitors: IDS Scheer, Big4, IBM/PwC, Infovide, info-consulting.


Trends / Growth basis

Customers are confused; they search for consultants who will guide them through the processes of

requirement definition, negotiations with IT companies and implementation supervision.

Growing awareness of the consequences of implementing badly chosen IT systems creates a need for

pre-implementation analysis.

End of the ownership structure changes in Poland and a shift towards increasing efficiency require

detailed process optimization (e.g. logistics).

Uncontrolled growth of outlays in IT creates the need to restructure this area (IT departments) /

rationalization of expenses.

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Quality management

© DGA 2003


Constantly updated areas of organization management certification and

standardization (e.g ISO 9001, ISO 14001, OHSAS 18001, ISO 17799). Central and local governments being obliged to implement quality management

standards (EU: UK government). Implementing quality management standards makes Polish organizations compliant

with certain EU standards in this respect. It is estimated that within the next 4 years the employment in the quality

management sector will grow by 100 thousand people.

Competitors: Bureau Veritas, KEMA, TUV konsulting, CIOP, GIG, ZETOM, ENERGOPROJEKTY, ENERGOPOMIAR, Umbrella, Doradca, Simptest


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© DGA 2003

Flagship Management Consulting projects

Implementation of a quality system in KATOWICKI HOLDING WĘGLOWY S.A. based on DGA’s software tools.

Optimization of business processes aimed at implementing an ERP system in PROVIMI group (ROLIMPEX),

in KŁODAWA SALT MINES, DLS and JELFA S.A.• Implementation of a workflow system in LUBOŃ CHEMICAL WORKS and in the CENTRAL

INSTITUTE OF LABOR PROTECTION.• Ongoing process optimization services for POLKOMTEL.• Implementation of quality systems incorporating DGA’s software tools in KGHM group

companies (PeBeKa i CBJ), SKODA, RHODIA Polyamide Poland, COMMERCIAL UNION, ELEKTROWNIA TURÓW, 3 power&heating plants and in 8 power supply companies.

• Process integration of the quality system in GRUPA ENERGETYCZNA ENEA.• Reconstruction of the quality systems in the POLISH CENTER FOR RESEARCH AND

CERTIFICATION and the TECHNICAL SUPERVISION AUTHORITY based on DGA’s software.• Services for over 40 companies through the „Introduction to Quality” program held by PARP.


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© DGA 2003

IT PRODUCTS


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© DGA 2003

IT Products


SMEs require IT solutions, thus causing demand for cheap but specialized software.

Only 5% of certificate holders own software supporting system maintenance (EU

average: 40%).

The number of requests for workflow system implementation grew by 20% within the

first six months of 2003.

Planned update of ISO standards indicates BSC as the main tool for measuring the

flexibility of quality systems – growing demand for specialized software.

Competitors: Micrografx, IDS Scheer, T-Komp, DomData, Logotec, MIS, Optix


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Programming supporting business experience

© DGA 2003

DGA BSC

DGA Project Management

DGA Workflow

DGA Learning

DGA Quality

DGA Process

Controllingof

operations

Data Security

Strategyand BSC

IT Consulting Services

Restructuring and outsourcing

Support for IT system

implementation

Quality management

system

CRMRestructuring

business processes

Product

DGA Controlling


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© DGA 2003

EUROPEAN UNION SERVICES


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Development of human resources

© DGA 2003

Trends / Basis for growth

Competitors: Regional Development Agencies, Local Democracy Development

Foundation, universities, Economic Education Foundation, Doradca, WGK, Uniconsult

It is estimated that in the years 2004-2006 Poland will absorb EUR 11 368.6 million of EU funds allocated for structural purposes. 15% of that sum will be spent on the projects carried out within the Sectoral Program for Human Resources Development.

High unemployment rate, low education levels, mismatched supply and demand of the Polish workforce, necessity to minimize social exclusion and ensuring equal opportunities on the job market - all these factors will result in an influx of EU funds to Poland


Customers

• Provincial Employment Agencies• Local Employment Agencies• Local Government Units• Non-Profit Organizations

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Assistance in the preparation and management of projects

© DGA 2003

Trends / Basis for growth

financed by EU aid funds

Competitors: Regional Development Agencies, Local Democracy Development

Foundation, universities, Economic Education Foundation.


It is estimated that in the years 2004-2006

Poland will absorb EUR 11 368.6 million of EU

funds allocated for structural purposes. 40% of

that sum will be spent on the projects carried out

within the Integrated Operational Program for

Regional Development. It is estimated that ca.

EUR 650 million will go to consulting firms.

Customers

• Local Territorial Government Units • Churches• Universities• Employment Agencies• Non-Profit Organizations

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Polish Consulting Leader Stock on the WSE

© DGA 2003

Why should I buy DGA stock?

1. Growing consulting services market in Poland

1. Unique position of DGA on the consulting services market

1. Impressive list of clients

1. Unique reliability of key people in DGA

1. Brilliant ideas for the future

why choose us?we're reliable...

Documents

Public Offer Doradztwo Gospodarcze DGA S.A. IPO 2003 PRESENTATION Modern consulting services for the Great Ones of tomorrow