FASTWEB Full Year 2008 Results

MILAN — The Board of Directors of FASTWEB S.p.A. (Milan, MTAX: FWB), Italy’s second-largest fixed telecommunications services provider, approved the draft financial statement for the year ending 31 December 2008 at a meeting yesterday evening.

Thanks to 220,000 net adds, the customer base grew from 1,263,000 subscribers at the end of 2007 to 1,483,000 as at 31 December 2008, a 17% increase.

The Consumer Business Unit (residential subscribers and Micro Business) reported revenues of 808 million euro, up 11% from 2007 (+12.5% if the impact of the reduction in termination rates is excluded). Over and above the positive trend in net adds, the Business Unit achieved a significant improvement in the inbound sale channel performance which accounted for more than 50% of new subscribers. In particular, web sales accounted for 14% versus 4% in 2007. The IPTV service also recorded a positive trend, with subscribers increasing by 13% in the year.

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