Newtree Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2008	FY 2007	FY 2006	FY 2005	FY 2004	2002 - 2003
Period Ending	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007	Dec '06 Dec 31, 2006	Dec '05 Dec 31, 2005	Dec '04 Dec 31, 2004	2002 - 2003
Net Income	-	-	-	-	0.06	Upgrade
Depreciation & Amortization	-	-	-	-	0.02	Upgrade
Change in Accounts Receivable	-	-	-	-	-0.04	Upgrade
Change in Inventory	-	-	-	-	-0.05	Upgrade
Change in Income Taxes	-	-	-	-	0.01	Upgrade
Change in Other Net Operating Assets	-	-	-	-	-0.05	Upgrade
Operating Cash Flow	-	-	-	-	-0.04	Upgrade
Capital Expenditures	-	-	-	-	-0	Upgrade
Sale (Purchase) of Intangibles	-	-	-	-	-0.04	Upgrade
Investment in Securities	-	-	-	-	-0.01	Upgrade
Investing Cash Flow	-	-	-	-	-0.06	Upgrade
Long-Term Debt Repaid	-	-	-	-	-0.03	Upgrade
Net Debt Issued (Repaid)	-	-	-	-	-0.03	Upgrade
Issuance of Common Stock	-	-	-	-	0.18	Upgrade
Financing Cash Flow	-	-	-	-	0.15	Upgrade
Net Cash Flow	-	-	-	-	0.05	Upgrade
Free Cash Flow	-	-	-	-	-0.04	Upgrade
Free Cash Flow Margin	-	-	-	-	-3.73%	Upgrade
Free Cash Flow Per Share	-	-	-	-	-0.07	Upgrade
Levered Free Cash Flow	-	-	-	-	-0.1	Upgrade
Unlevered Free Cash Flow	-	-	-	-	-0.1	Upgrade
Change in Net Working Capital	0.03	0.21	-	-	0.11	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.