OUTLOOK

Our performance underpins our confidence that we can continue to grow revenue, EBITDA before specific items, earnings per share before specific items, and dividends over the coming year.
We are confident in our ability to improve shareholder returns and accelerate the strategic transformation of the business. In addition, taking into account the group’s net debt level and strong cash flow generation, we have decided to introduce a new £2.5 billion share buy back programme, while increasing dividends and investing in the growth of the business. We expect this buy back programme to be completed by 31 March 2009. We seek to maintain a solid investment grade credit rating and will continue to invest for the future and, with an efficient balance sheet, further enhance shareholder value.

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