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<title>IPTV – Die Zukunft des Fernsehens hat begonnen</title>

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<p class=MsoNormal><b><span lang=EN-GB>    IPTV    –   The future  for television     is    now</span></b></p>

<p class=MsoNormal><span   lang=EN-GB> </span></p>

<p     class=MsoNormal><span  lang=EN-GB>To   receive   your favourite     tv   channel
worldwide  –  IPTV   does    it.   Not on your  tv  screen,     but    on    your  tv!    And     maxx-tv   AG
is    one of the   first-movers   in   this  growing    market.</span></p>

<p class=MsoNormal><span     lang=EN-GB> </span></p>

<p   class=MsoNormal><span   lang=EN-GB>Due     to    the  company,     they    will  even  start     to
enter     the    world’s     largest tv    market     USA    in     Fall     2008.   German  program    for more
than  40  million  German-speaking    people.    And   on    top: The     costs    of  the     maketing
campaign  are  covered    by     the    ste-top-box     producer!</span></p>

<p   class=MsoNormal><span  lang=EN-GB> </span></p>

<p class=MsoNormal><span  lang=EN-GB>This given,   we recommend:</span></p>

<p  class=MsoNormal><span     lang=EN-GB> </span></p>

<p  class=MsoNormal><b><span  lang=EN-GB>BUY (SPECULATIVE)</span></b></p>

<p     class=MsoNormal><b><span  lang=EN-GB> </span></b></p>

<p class=MsoNormal><b><span  lang=EN-GB>Maxx-TV AG</span></b></p>

<p  class=MsoNormal><b><span lang=DE>WKN:  A0M0KX,     Symbol:    M55</span></b></p>

<p   class=MsoNormal><b><span    lang=EN-GB>Frankfurt</span></b><b><span lang=EN-GB>
Stock  Exchange</span></b></p>

<p class=MsoNormal><b><span  lang=EN-GB>Share price:  ˆ    0.18</span></b></p>

<p    class=MsoNormal><b><span  lang=DE>6 months-target: ˆ    0.35   / 0.45</span></b></p>

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