<PAGE> 1
Filed by Deutsche Telekom AG
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: VoiceStream Wireless Corporation
Exchange Act File Number 000 29667
THE FOLLOWING WAS POSTED ON DEUTSCHE TELEKOM AG'S WEBSITE ON DECEMBER 21, 2000.
<PAGE> 2
Backup
Deutsche Telekom
<PAGE> 3
Disclaimer
This presentation contains certain statements that are neither reported
financial results nor other historical information. These statements are
forward-looking statements within the meaning of the safe-harbor provisions of
the U.S. federal securities laws. Because these forward-looking statements are
subject to risks and uncertainties, actual future results may differ materially
from those expressed in or implied by the statements. Many of these risks and
uncertainties relate to factors that are beyond the company's ability to control
or estimate precisely, such as future market conditions, currency fluctuations,
the behavior of other market participants, the actions of governmental
regulators and other risk factors detailed in Deutsche Telekom's, VoiceStream's,
and Powertel's reports filed with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this document. We do not
undertake any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date of
this presentation.
Investors and security holders are advised to read the proxy
statement/prospectus regarding the business combination transactions referenced
in this presentation, which has been preliminarily filed with the Securities and
Exchange Commission (the "Commission") and any amendments thereto because it
contains, and any amendments thereto will contain, important information. The
proxy statement/prospectus has been filed with the Commission by Deutsche
Telekom AG, VoiceStream Wireless Corporation and Powertel, Inc. Security holders
may obtain a free copy of the proxy statement/prospectus and other related
documents filed by Deutsche Telekom, VoiceStream, and Powertel at the
Commission's website or at the Commission's public reference room in Washington,
D.C. Please call the Commission at 1-800-SEC-0330 for further information on the
public reference room. The proxy statement/prospectus and the other documents
may also be obtained from Deutsche Telekom by contacting Deutsche Telekom,
Attention: Petra Michalscheck, Investor Relations, 140 Friedrich-Ebert-Allee,
53113 Bonn, Germany and/or Deutsche Telekom, Inc., Attention: Brigitte Weniger,
280 Park Avenue, 26th Floor, New York, New York 10017;
Deutsche Telekom
Page 2
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T-Mobile
Deutsche Telekom
<PAGE> 5
T-Mobil (Germany)
Strong growth and stable market shares
[1999 PIECHART] [H1 2000 PIECHART] [Q3 2000 PIECHART]
<TABLE>
<CAPTION>
1999 H1 2000 Q3 2000
23.2 million customers 34.0 million customers 40.7 million customers
<S> <C> <C> <C> <C> <C>
T-D1 39% T-D1 39% T-D1 40%
D2 41% D2 41% D2 41%
e-plus 16% e-plus 15% e-plus 14%
E2 4% E2 5% E2 6%
</TABLE>
Source: Telecom-Handel
Deutsche Telekom
Page 3
<PAGE> 6
T-Mobil (Germany)
On track to more than double subscriber base in the current year
Subscriber growth and churn
Additions per quarter ('000) Average monthly churn (%)
[SUBSCRIBER GROWTH AND CHURN BAR GRAPH]
[ Bar graph showing the number of gross and
net adds beginning in 1999 through the
third quarter of 2000 and showing the
percentage of average monthly churn over
the same period. ]
- 2.6 million subscribers added in Q3 2000 of which 2.2 million in prepay
- 16.1 million subscribers as at September 30, 2000 of which 7.5 million
in prepay
- Q1-Q3 2000 ARPU
blended: E 37
contract: E 47
prepay: E 13
Deutsche Telekom
Page 4
<PAGE> 7
One2One
Increasing market share
[PIECHARTS]
<TABLE>
<CAPTION>
1999 H1 2000 Q3 2000
23.9 million customers 30.7 million customers 34.4 million customers
<S> <C> <C> <C> <C> <C>
One2One 17% One2One 20% One2One 21%
Orange 21% Orange 23% Orange 24%
Cellnet 29% Cellnet 26% Cellnet 25%
Vodafone 33% Vodafone 31% Vodafone 30%
</TABLE>
Source: One2One
Deutsche Telekom
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<PAGE> 8
One2One
Improved distribution pays off - market leader in net-additions in Q3
Subscriber growth and churn
Additions per quarter ('000) Average monthly churn (%)
[SUBSCRIBER GROWTH AND CHURN BARCHART]
[ Bar graph showing the number of gross and
net adds beginning in 1999 through the
third quarter of 2000 and showing the
percentage of average monthly churn over
the same period. ]
- First 9 months 2000 represent One2One's highest growth period to date with
3.0 million net-additions of which 2.8 million in prepay
- Total subscriber base 7.1 million of which 5.2 in prepay
- Q1-Q3 2000 ARPU
blended: E 36
contract: E 64
prepay: E 21
Deutsche Telekom
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<PAGE> 9
max.mobil.
Catching up with the incumbent
[PIECHARTS]
<TABLE>
<CAPTION>
1999 H1 2000 Q3 2000
4.0 million customers 4.7 million customers 5.1 million customers
<S> <C> <C> <C> <C> <C>
max.mobil. 38% max.mobil. 38% max.mobil. 38%
One 12% One 15% One 17%
A1 50% A1 47% A1 45%
Telering - Telering - Telering 1%
</TABLE>
Source: max.mobil.
Deutsche Telekom
Page 7
<PAGE> 10
max.mobil.
Highly successful in attracting new subscribers and customer retention
Subscriber growth and churn
Additions per quarter ('000) Average monthly churn (%)
[SUBSCRIBER GROWTH AND CHURN BARCHART]
[ Bar graph showing the number of gross and
net adds beginning in 1999 through the
third quarter of 2000 and showing the
percentage of average monthly churn over
the same period. ]
- 422,000 subscribers added in first 9 months 2000 of which 342,000 in prepay
- 1.9 million subscribers as at September 30, 2000 of which 1.1 million in
prepay
- Q1-Q3 2000 ARPU
blended: E 34
contract: E 59
prepay: E 13
Deutsche Telekom
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<PAGE> 11
EASTERN EUROPE (1)
Strong positioning in Central and Eastern Europe
<TABLE>
<CAPTION>
RadioMobil* PTC** MTS***
<S> <C> <C> <C>
Penetration Q3 2000 32.1% 15.4% 14%
GSM Market share Q3 2000 45.0% 43.1% 52.0%
Subscribers Q3 2000 (million) 1.5 2.5 0.9
Net revenues Q1-Q3/00 (E mn) 346 656 349
EBITDA Q1-Q3/00 (E mn) 118 205 182
Net income Q1-Q3/00 (E mn) 47 -26 81
Personnel (FTE - Sept 30,2000) 1,961 2,910 1,901
</TABLE>
* Option exercised to increase indirect shareholding in RadioMobil from 41.4%
to 52.0% in H1/2001.
** 22.5% shareholding held by TMO, with further 22.5% held by Deutsche
Telekom.
*** Shareholding of 36.2 %.
Deutsche Telekom
Page 9
<PAGE> 12
EASTERN EUROPE (2)
Companies outside TMO consolidation
<TABLE>
<CAPTION>
Matav Croatia Telecom
<S> <C> <C>
Net revenues Q1-Q3/00 (E mn) 1,266 610
EBT Q1-Q3/00 (E mn) 350 126
Personnel (FTE - Sept 30, 2000) 14,544 11,118
Mobile subscribers Q3 2000 ('000) 1,432 429
GSM market share Q3 2000 55% 48%
Penetration rate Q3 2000 25% 20%
</TABLE>
Deutsche Telekom
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<PAGE> 13
TMO Key Figures*
Significant margin recovery in third quarter
<TABLE>
<CAPTION>
E million pro forma Q1-Q3 2000 Q3 2000 H1 2000 1999
------------------- ---------- ------- ------- ----
<S> <C> <C> <C> <C>
Net revenues 7,265 2,708 4,557 7,500
EBITDA 1,062 465 597 1,806
EBITDA margin 14.6% 17.2% 13.1% 24.1%
EBIT -522 -127 -395 96
Subscribers(million) 25.1 25.1 21.3 14.8
Personnel(FTE Sept 30, 2000) 17,362 17,362 15,988 13,506
</TABLE>
* On a standalone basis
Deutsche Telekom
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TMO Financials*
Cost development
<TABLE>
<CAPTION>
E million pro forma Q1-Q3 2000 Q3 2000 H1 2000 1999
------------------- ---------- ------- ------- ----
<S> <C> <C> <C> <C>
Net revenues 7,265 2,708 4,557 7,500
Other own capitalized costs 80 29 51 58
Other operating income 434 219 215 429
Goods and services purchased -3,503 -1,313 -2,190 -3,297
Personnel costs -618 -226 -392 -609
Other operating expenses -2,596 -951 -1,645 -2,275
EBITDA 1,062 465 597 1,806
</TABLE>
* On a standalone basis
Deutsche Telekom
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T-Mobile
UMTS in all countries with operations
European UMTS landscape
[MAP OF EUROPE PRESENTING AREAS WHERE DEUTSCHE TELEKOM ACQUIRED A LICENCE AND
THE DATE OF SUCH ACQUISITION AND AREAS WHERE A LICENCE HAS BEEN AWARDED OR
EXPECTED TO BE AWARDED AND THE DATE OF SUCH AWARD]
Successful bids
1. U.K.: GBP 4.0 billion (69 GBP per POP)
2. Germany: E 8.5 billion (E 104 per POP)
3. Netherlands: E 395 million (E 41 per POP)
4. Austria: E 170 million (E 21 per POP)
Deutsche Telekom
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Powertel
Coverage to expand substantially in the United States
- Acquisition of Powertel adds 25 million POPs and 727,000 customers to
VoiceStream's network
- Deutsche Telekom will offer 2.6353 T-Shares for each share of Powertel
common stock in an all share transaction
- Transaction value: US$ 5.89 billion based on 55.9 million fully diluted
Powertel shares*
- Powertel's year-to-date revenues amount to US$ 330.6 million, with positive
EBITDA in the last three quarters
- Closing of Deutsche Telekom/Powertel acquisition dependent on successful
closing of the Deutsche Telekom/VoiceStream acquisition
* Based on Xetra closing prices on August 25, 2000.
Deutsche Telekom
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T-Systems
Deutsche Telekom
<PAGE> 18
T-Systems: The Business Model.
Targeting 1,427 large/multinational customers and 360,000 SMEs
<TABLE>
<CAPTION>
Global Business Lines
---------------------
Customer relationships with 1,427 large/multinational enterprises
Telecommun-
Manufacturing ication/ Public &
Industry Carrier/SP Banking Insurance Healthcare
<S> <C> <C> <C> <C> <C>
Global Service Lines
--------------------
Customer relationships
with 360,000 SMEs*
e-Business X X X X X
Consulting X X X X X
Systems Integration X X X X X
Desktop Services X X X X X
Computing Services X X X X X
Network Services X X X X X
</TABLE>
Deutsche Telekom
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T-Systems: E-Markets Implementation
B2B leadership
<TABLE>
<CAPTION>
Vertical-E-Markets
------------------
Chemical Construction Paper/Print Public Sector Automotive Education Healthcare
<S> <C> <C> <C> <C> <C> <C> <C>
Consulting
Global Service Lines
--------------------
Systems Integration X X X X X X X
Computing Services X X X X X X X
Network Services BAYER LOGO BAYWA LOGO HEIDELBERG X X X X
INFRASERV W LOGO LOGO
HOCHST LOGO
</TABLE>
Deutsche Telekom
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IP-Network - Telekom Global Network
Foundation of the "Internet Revolution"
- IP: Deutsche Telekom best positioned to meet exploding demand
- Core backbone 10 PoPs
- regional 64 PoPs
- access (dial-in) 220 PoPs
- IP Traffic running at 6,000 Terabytes per year, to rise to 20,000 Terabytes
per year by end of 2001
- Core IP network transmission capacity:
- Current: approx. 80 Gbit/s
- 2001e: up to 340 Gbit/s
- Creation of Telekom Global Network (TGN) on track
Deutsche Telekom
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Financials
Deutsche Telekom
<PAGE> 22
Revenues by segment
Strong growth in mobile, Internet and data revenues
<TABLE>
<CAPTION>
E (million) Q3/00 Q3/99* change change% 1999*
----------- ----- ------ -------- --------- -----
<S> <C> <C> <C> <C> <C>
Network communications 11,183 12,522 -1,339 -10.7 16,737
- of which access charges 4,762 4,701 61 1.3 6,333
Carrier services 2,959 1,972 987 50.1 2,884
Data communications 2,573 2,123 450 21.2 2,828
Mobile communications 6,421 3,292 3,129 95.0 5,274
- of which One2One, max.mobil. 2,770 558 2,212 396.4 1,355
Broadcasting and broadband cable 1,432 1,384 48 3.5 1,917
Terminal equipment 762 917 -155 -16.9 1,207
Value-added services 1,363 1,405 -42 -3.0 1,903
Other international 1,537 1,157 380 32.8 1,598
Other services (T-Online, etc.) 992 804 188 23.4 1,122
- of which T-Online 495 326 169 36.4 412
------ ------ ----- ---- ------
Net revenues 29,222 25,576 3,646 14.3 35,470
</TABLE>
* Net revenue shown under 1999 has been adjusted to reflect the 2000 reporting
structure. The revenue and results of One2One and max.mobil. are included in
mobile communication as from the first quarter of 2000.
Deutsche Telekom
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<PAGE> 23
Network Communications
Decreasing domestic and international long-distance call charges to 8% of total
revenues
<TABLE>
<CAPTION>
E (million) Q3/00 Q3/99 change** change%* ** 1999
----------- ----- ----- -------- ----------- ----
<S> <C> <C> <C> <C> <C>
Call charges (total) 6,421 7,821 -1,400 -17.9% 10,404
- of which domestic and international LD 2,342 3,353 -1,011 -30.2% 4,393
Access charges* 4,763 4,701 + 62 + 1.3% 6,333
------ ------ ------ ------ ------
Network communications 11,184 12,522 -1,338 -10.7% 16,737
Consolidated net revenues 29,222 25,576 3,646 14.3% 35,470
</TABLE>
* Including connection fees and other network services.
** Calculated on the basis of exact values.
Deutsche Telekom
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EBITDA by Segment*
Strong third quarter 2000
<TABLE>
<CAPTION>
EBITDA Q1/00
-
Q1/00 Q2/00 Q3/00 Q3/00
----- ----- ----- -----
<S> <C> <C> <C> <C>
Network communications 1,535 1,560 1,576 4,671
Carrier services 200 328 644 1,172
Data communications 261 350 373 984
Mobile communications 412 168 546 1,126
Broadcasting/broadband cable 287 279 3,201 3,767
Terminal equipment 64 19 14 97
Value-added services 58 42 15 115
Other international activities 147 200 179 526
Other segments 2,731 2,564 -7 5,288
Reconciliation -47 6 28 -13
------ ----- ------ -------
Deutsche Telekom Group 5,648 5,516 6,569 17,733
</TABLE>
* Including sale of GlobalOne, Wind, CATV NRW+Hesse, dilution T-Online,
comdirect, MTS , asset disposal, and others.
Deutsche Telekom
Page 22
<PAGE> 25
CONSOLIDATED STATEMENT OF INCOME*
<TABLE>
<CAPTION>
Q1- Q1-
E (million) Q3/00 Q3/99 change% 1999
----------- ----- ----- ------- ----
<S> <C> <C> <C> <C>
Net revenue 29,222 25,576 14.3 35,470
Changes in inventories and other own cap. costs 707 658 7.4 947
------- ------- ------ -------
Total operating performance 29,929 26,234 14.1 36,417
------- ------- ------ -------
Other operating income 10,144 1,328 663.9 1,871
Goods and services purchased -8,381 -4,905 70.9 -7,667
Personnel costs -7,038 -6,868 2.5 -9,210
Depreciation and amortization -7,958 -5,988 32.9 -8,466
Other operating expenses -6,921 -4,514 53.3 -6,872
Financial income (expense) net 126 -2,089 -- -2,889
- of which net interest expense -2,052 -1,884 8.9 -2,546
------- ------- ------ -------
Results from ordinary business activities 9,901 3,198 209.6 3,184
------- ------- ------ -------
Extraordinary income/loss -138 -239 -42.3 -240
------- ------- ------ -------
Income before taxes 9,763 2,959 229.9 2,944
------- ------- ------ -------
Taxes -1,219 -1,511 -19.3 -1,420
------- ------- ------ -------
Income after taxes 8,544 1,448 490.0 1,524
------- ------- ------ -------
Income/losses applicable to minority sharehold -99 -196 -49.5 -271
------- ------- ----- -------
Net income 8,445 1,252 574.5 1,253
</TABLE>
* German GAAP.
Deutsche Telekom
Page 23
<PAGE> 26
NETWORK COMMUNICATIONS
Shift from traffic revenue to access revenues
REVENUES
[REVENUES BAR GRAPH]
<TABLE>
<CAPTION>
Revenues
----------------------------------------------
Access Total
revenues revenues Percentage
-------- -------- ----------
<S> <C> <C> <C>
Q1-Q3/98 4.626 15.453 29.9%
Q1-Q3/99 4.701 12.522 37.5%
Q1-Q3/00 4.762 11.183 42.6%
</TABLE>
- Access revenues now represent 43% (Q3/98: 30%) of total Network
Communications Revenues
- Access revenues continue to grow despite competition
Deutsche Telekom
Page 24
<PAGE> 27
International Revenues Doubled*
Revenues generated outside Germany vs. total revenues
[BAR GRAPH]
<TABLE>
<CAPTION>
International Consolidated
revenues net revenues Percentage
-------- ------------ ----------
in E million
<S> <C> <C> <C>
Q3 1998 1,763 25,992 6.83%
Q3 1999 2,443 25,576 9.55%
Q3 2000 5,305 29,222 18.15%
</TABLE>
* Including max.mobil., One2One, SIRIS which are included in the Mobile segment
revenues.
Deutsche Telekom
Page 25
<PAGE> 28
Call Revenues*
Impact of minute growth more than offset by price cuts
[BAR GRAPH]
<TABLE> Percentage
<CAPTION> of Price
E (billion) Q3/99 Q3/00 Change
----- ----- ----------
<S> <C> <C> <C>
City/local 3.035 2.663 -12,2%
Long distance 2.253 1.729 -23,2%
International 1.100 .644 -41,5%
Fixed-to-mobile 1.275 1.450 13,8%
Other services** 1.329 1.473 10,9%
Total 8.991 7.959 -11,5%
</TABLE>
* In the PSTN=Public Switched Telephone Network. (Unconsolidated)
** Directory assistance, service numbers, public telephones, T-Online.
Percentages calculated on the basis of exact values.
Deutsche Telekom
Page 26
<PAGE> 29
Call Minutes*
Overall volume growth continuing
[ALL MINUTES* BAR GRAPHIC]
<TABLE>
<CAPTION>
Percentage
of Volume
Minutes(billion) Q3/99 Q3/00 Growth
----- ----- ----------
<S> <C> <C> <C>
City/local 86.9 80.0 -7.9%
Long distance 28.4 27.2 -4.1%
International 2.9 2.8 -2.9%
Fixed-to-mobile 3.8 5.0 30.7%
Other services** 16.6 48.6 192.8%
Total 138.6 163.7 18.1%
</TABLE>
* In the PSTN=Public Switched Telephone Network.
** Directory assistance, service numbers, public telephones, T-Online.
Percentages calculated on the basis of exact values.
Deutsche Telekom
Page 27
<PAGE> 30
Call Prices*
Decrease in Internet, international and long distance call prices
[CALL PRICES* BAR GRAPHIC]
<TABLE>
<CAPTION>
Percentage
of Price
E/100 minutes Q3/99 Q3/00 Decrease
----- ----- ----------
<S> <C> <C> <C>
City/local 3,5 3,3 -4,8%
Long distance 7,9 6,3 -20,0%
International 37,6 22,7 -39,7%
Fixed-to-mobile 33,4 29,0 -12,9%
Other services** 8,0 3,0 -62,1%
Total 6,5 4,9 -25,1%
</TABLE>
* In the PSTN = Public Switched Telephone Network.
** Directory assistance, service numbers, public telephones, T-Online.
Percentages calculated on the basis of exact values.
Deutsche Telekom
Page 28
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T-Online
Deutsche Telekom
<PAGE> 32
Europe's leading ISP...
--------------------------------------------------------------------------------
[BAR CHART]
<TABLE>
<CAPTION>
Subscribers (million)
December, 1999 September, 2000
<S> <C> <C>
T-Online 4.2 7.04
AOL Europe 3.1 3.9
</TABLE>
- T-Online is by far Europe`s largest ISP
- T-Online is increasing the gap to its main competitor
- T-Online is well positioned to consolidate the European Internet market
Sources: Company data
1 T Online
<PAGE> 33
...Reinforcing its market position in Germany
--------------------------------------------------------------------------------
[BAR CHART]
<TABLE>
ISP users in Germany in %
Jan 00 Aug 00
<S> <C> <C>
T-Online 55 57
AOL 32 31
Yahoo Online 8 12
Freenet 6 10
Comundo 0 7
Arcor Mannesmann 6 6
</TABLE>
- The total number of Internet users in Germany (residential, business,
school/university users) has increased from 9.9 million in January to
18 million in August
- 57% of these Internet users (10.26 million) go online - at least
occasionally - via T-Online
- T-Online has expanded its market position since January and nearly
doubled its user base
Source: GfK Onlinemonitor, adds up to more than 100%.
2 T Online
<PAGE> 34
T-Online business model
--------------------------------------------------------------------------------
Traffic Booster
- Access
- Client 3.0
- eMail
-- webMail
- Banking
-- webBanking
- FreeSMS
- Weborganizer
- Community Services
[FLOWCHART GRAPHIC]
Generating Traffic Monetising Traffic
Reach & Stickiness
- Shopping
- Finance
- Fun&Action
- Regional
[WEB SITE GRAPHIC]
- Focus on deep and specific content
- Broadband content
Build an access business which covers its costs
Generate traffic and create revenues in E-Commerce and advertising
3 T Online
<PAGE> 35
INTERNATIONAL EXPANSION
--------------------------------------------------------------------------------
Customers (million)**
[MAP OF EUROPE PRESENTING AREAS WHERE PORTAL BUSINESS IS IN PREPARATION]
<TABLE>
<S> <C> <C>
- Germany: T-Online 5.98
- France: Club-Internet 0.52
- Austria: T-Online.at 0.06
- Spain/Portugal: Ya.com 0.48
</TABLE>
As of Sept 30, 2000 T-Online had more than 1 million* access customers outside
Germany
* Including Ya.com, closed on October 23, 2000
** as of September 30, 2000
4 T ONLINE
<PAGE> 36
LEADING PORTAL IN GERMANY
--------------------------------------------------------------------------------
[BAR CHART]
Number of visitors/month (million)
<TABLE>
<S> <C>
T-Online.de 5.640
Yahoo.de 3.316
Lycos.de 2.995
Freenet.de 2.820
Msn.de 2.372
Microsoft.de 2.194
Web.de 2.075
Fireball.de 2.008
GMX.de 1.730
Freecity.de 1.085
</TABLE>
[BAR CHART]
Reach (in %)
<TABLE>
<S> <C>
T-Online.de 50.1
Yahoo.de 29.5
Lycos.de 26.6
Freenet.de 25.1
Msn.de 21.1
Microsoft.de 19.5
Web.de 18.4
Fireball.de 17.9
GMX.de 15.4
Freecity.de 9.7
</TABLE>
Source: Net Value September 00, .de sites only
5 T ONLINE
<PAGE> 37
T-Online verticals
--------------------------------------------------------------------------------
[BAR CHART]
Top shopping sites in Germany (in %)
<TABLE>
<CAPTION>
Reach (%)
---------
<S> <C>
Shopping24.de 2.0
Buecher.de 2.2
Booxtra.de 2.3
CD4You.de 2.4
Otto.de 2.8
Neckermann.de 2.8
Conrad.de 3.1
Tchibo.de 3.1
Quelle.de 3.5
Amazon.com 3.5
Handy.de 4.3
BOL 5.3
T-Online-Shopping 5.6
Amazon.de 13.7
</TABLE>
[BAR CHART]
Top finance sites in Germany (in %)
<TABLE>
<CAPTION>
Reach (%)
---------
<S> <C>
Handelsblatt.com 1.6
Finanztreff.de 1.8
Citibank.de 1.9
Wallstreet-Online.de 2.1
Business-Channel.de 2.2
Postbank.de 2.3
Diraba.de 2.3
Onvista.de 2.7
Deutschebank24.de 3.5
T-Online Business/Finanzen 4.8
Consors.de 5.0
Comdirect.de 7.2
</TABLE>
The vertical T-Online portals (Shopping, Finance, Fun, Regional) have
established them-selves in leading positions within their categories ahead of
many powerful "offline-brands"
Source: MMXI (August 2000)
6 T Online
<PAGE> 38
Evolution of traffic at T-Online.de
--------------------------------------------------------------------------------
[BAR CHART]
1000 PageImpressions** (Germany)
<TABLE>
<S> <C>
as of Jan 00 133,075
as of Sep 00 231,105
Change +74%
</TABLE>
[BAR CHART]
Active advertising customers per quarter ***
<TABLE>
<S> <C>
Q 1/00 139
Q 3/00 206
Change +48%
</TABLE>
- PageImpressions on the T-Online portal increased faster than the
average German WWW-Market (55%)* and the T-Online customer base (66,6%)
between January and September 2000
* Source: ASV Interactive Media
** Calculated according to IVW-Standard
*** without E-Commerce partners
7 T Online
<PAGE> 39
Broadband content
--------------------------------------------------------------------------------
- ENTERTAINMENT, E.G.
- Web soaps
- Big Brother II
- Music (live concerts, videos)
- EVENTS, E.G.
- Britney Spears
- Mission Impossible 2
- Olympia 2000
- GAMES, E.G.
- "Die Wahrsagerin" (The Fortune-Teller)
- "Star Trek Voyager"
- "Lara Croft"
Increasing depth of T-Online branded contents
Partly produced directly by T-Online, partly exclusively media partnerships
[GRAPHICS]
8 T Online
<PAGE> 40
T-Online: Key data
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Sep 30, 2000 Sep 30, 1999 Change 1999 as a whole
E thousands E thousands In % E thousands
<S> <C> <C> <C> <C>
Sales revenue 542,637 291,021 86.5 428,420
EBITDA (14.394) 14.2 (201) 17.58
Income/losses from ordinary activities (125,473) (2,845) (4,310.3) (6,869)
Income after taxes (240,371) (2,836) (8,375.7) -
Net income (232,731) - - -
</TABLE>
9 T Online
<PAGE> 41
Sales revenue (first 9 months, 2000) in E m
--------------------------------------------------------------------------------
[BAR CHART PRESENTING REVENUES AS OF SEPTEMBER 1999 AND
SEPTEMBER 2000 AND PERCENTAGE CHANGE IN REVENUES DURING SUCH PERIOD]
<TABLE>
<CAPTION>
From Sep 99 to Sep 00
<S> <C>
Access 71.2%
Advertising/E-Commerce 1,985.4%
Other Revenues -8.5%
Total 86.5%
</TABLE>
* Including E 28.197 million from Deutsche Telekom AG
10 T Online
<PAGE> 42
T-Online`s flat rate access business
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Narrowband Broadband
<S> <C> <C>
- FIXED PRICES DM 79,- DM 49,-
- VARIABLE COSTS
-- volume IP costs IP costs
based
-- minute Interconnectivity
based costs
</TABLE>
11 T Online
<PAGE> 43
Effects of new acquisitions, first 9 months 2000
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
E thousands
<S> <C>
Sales revenue 31,634
Other operating income of which dilution effect 41,264
39,175
Services purchased (26,497)
Personnel expenses (10,165)
Depreciation/amortization on intangible and tangible assets (139,153)
Other operating expenses (38,442)
Financial loss (above all, loss by associated companies incl. amortization on goodwill) (28,008)
Taxes (555)
NET LOSS, FIRST 9 MONTHS 2000 (169,922)
</TABLE>
12 T Online
<PAGE> 44
Goodwill amortisation
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Jan-Sep, 2000 Full year 2000E
E m E m
<S> <C> <C>
Club-Internet ~ E 135.4 ~ E 203.1
daybyday ~ E 0.3 ~ E 0.4
Atrada ~ E 1.4 ~ E 2.8
ya.com Not included ~ E 20.0*
Total ~ E 137.1 Approx. ~ E 226.3
</TABLE>
* unaudited
13 T Online
<PAGE> 45
Financial key data
--------------------------------------------------------------------------------
- T-Online has E 6.4 billion equity
- T-Online has cash reserves of more than E 3.9 billion
- T-Online currently has 370.65 million shares of authorized capital for
future acquisitions
* Excluding E 100m cash payment for the Ya.com acquisition in Q4/00
14 T Online
