IM Internationalmedia AG Financial Highlights of Interim Report for the period from

1. IM Internationalmedia AG Financial Highlights of Interim Reportfor the period from January 1 to March 31, 2003

2. Emphasized Financial Data > Overview First Three Months 2003 in million euros Jan-Mar 2003 Jan-Mar 2002 delta delta in percent Revenue Gross Profit EBITA Result after tax EPS 80.6 10.5 + 4.3 + 1.1 + 0.04 • 66.8 • 8.2 • - 5.4 • - 5.7 • - 0.19 + 13.8 + 2.3 + 9.6 + 6.8 + 0.23 + 21 + 27 n.a. n.a. n.a.

3. Revenue Structure Revenues Jan-Mar 2003 Comments in million euros 80.6 1.6 1.3 77.7 • Vast majority of revenues continues to derive from minimum guarantees on 3 released movies (DARK BLUE, THE LIFE OF DAVID GALE, BASIC) • Significant profit participations in IRIS, THE WEDDING PLANNER and TRAFFIC • Library revenues mainly from the Largo Film Library Minimum guarantees Overages Library Total

4. Revenue Projections 2003 Projected Revenues Apr-Dec 2003 Comments in million euros 330-350 249-269 Projected revenues only include minimum guarantees and resemble a conservative stance. Projected revenues are based on the premise of the film releases mentioned below: • Q2 plans no film releases • Q3 plans the release of TERMINATOR 3: RISE OF THE MACHINES and MINDHUNTERS • Q4 plans the release of SUSPECT ZEROThe projected revenues were calculated under the assumption of a Euro-Dollar parity in 2003. Film release dates are subject to change. 81 Total Q1 Minimum Guarantees Projection 2003

5. P&L Analysis Comments Consolidated Income Statement Jan-Mar 2002 Jan-Mar 2003 • Gross margin slightly increases to 13 percent • The investments of recent years in film development are now proving valuable for IM. Due to the now sufficient critical mass of currently active projects, which require few additional costs, the opportunity to limit upcoming project development expenses is now apparent. [in K€] Revenue 80.554 66.805 Cost of goods sold -70.091 -58.592 Gross profit 10.463 8.213 Project development costs -1.643 -3.133 Distribution costs -234 -899 General administration costs -4.677 -8.954 Other operating income 412 120 Other operating expenses -51 -717 Goodwill amortisation -399 -1.429 Operating result (EBIT) 3.871 -6.799 Result at equity -69 -488 Financial result -703 134 Result before tax 3.099 -7.153 Taxes on income and profits -1.959 1.421 Result after tax 1.140 -5.732 Undiluted earnings per share (in €) 0.04 -0.19 Diluted earnings per share (in €) 0.04 -0.19

6. P&L Analysis Comments Consolidated Income Statement Jan-Mar 2002 Jan-Mar 2003 • Distribution costs have been reduced by –74 percent, mainly due to the operational start of I.S. Film Distribution. • Overhead costs at 4.7 million euros show a reduction of 48 percent, the first significant benefits of the extensive cost cutting program. The restructuring of the London office also comes into play. • Through the goodwill write-off last year IM has a now a streamlined balance sheet assuring significantly lowered amortisation charges during the years to come. [in K€] Revenue 80.554 66.805 Cost of goods sold -70.091 -58.592 Gross profit 10.463 8.213 Project development costs -1.643 -3.133 Distribution costs -234 -899 General administration costs -4.677 -8.954 Other operating income 412 120 Other operating expenses -51 -717 Goodwill amortisation -399 -1.429 Operating result (EBIT) 3.871 -6.799 Result at equity -69 -488 Financial result -703 134 Result before tax 3.099 -7.153 Taxes on income and profits -1.959 1.421 Result after tax 1.140 -5.732 Undiluted earnings per share (in €) 0.04 -0.19 Diluted earnings per share (in €) 0.04 -0.19

7. Balance Sheet Analysis Comments Consolidated Balance Sheet: Assets Assets [in K€] Mar 31, 2003 Dec 31, 2002 • Cash of 21.6 million euros lower than last year’s ending balance was mainly caused by temporarily servicing the K-19 short fall and by investments into pre-production due to a high number of upcoming greenlights such as AVIATOR, ALEXANDER or LAWS OF ATTRACTION • Receivables remain at a high level thanks to the theatrical releases of DARK BLUE, THE LIFE OF DAVID GALE, BASIC, as well as overages from TRAFFIC and THE WEDDING PLANNER • Decrease in film assets due to theatrical releases of films like BASIC, THE LIFE OF DAVID GALE and DARK BLUE Current assets Cheques, cash in hand, central bank and bank balances 14.877 47.813 Other marketable securities 6.861 8.632 Trade accounts receivable 135.344 128.972 Film development costs 42.059 34.622 Prepaid expenses 456 353 Other current assets 16.338 18.861 Total current assets 215.935 239.253 Non-current assets Fixed assets 6.211 10.858 Film and licence assets 234.622 299.427 Goodwill 13.763 14.575 Other intangible assets 16 19 Loans to associated companies 1.847 1.721 Deferred tax assets 4.800 599 Total non-current assets 256.932 331.526 Total assets 472.867 570.779

8. Balance Sheet Analysis Consolidated Balance Sheet – Bank Loans Comments • Lowest level of outstanding bank loans in five quarters • Film loans are generally non-recourse to IM and solely pledged by the film project • IEG film assets (mainly Traffic, Ali, and Gangs of New York) are backing the IEG bank loan; non recourse of IEG liabilities against IM assets • The Largo film library loan is backed by the library assets • No new bank loans closed in Q1 in million euros 242 221 216 198 178 Q1/02 Q2/02 Q3/02 Q4/02 Q1/03 in million euros 169 178 9 Non-recoursefinancing Bank liabilities Mar 31, 03 Largo Asset backed

9. Cash Flow Analysis Consolidated Cash Flow Statement Comments Three-month report Jan 1 to Jan 1 to • Depreciation for films stays at a constant level compared to same quarter last year • The positive operating Cashflow is mainly driven by depreciation and by a better performance of Working Capital compared to Q1/02 • Investment level decreases significantly due to lower marginal costs in film development • The positive Free Cash Flow was used to service debt Mar 31, Mar 31, [in K €] 2003 2002 Net profit/loss 1,140 -5,732 Depreciation and amortization 64,820 58,932 Changes in non-cash accrued liabilities 5,379 22,931 Changes in non-cash deferred tax assets 4,201 -25,154 Other non-cash expenses and income 0 1,710 Changes in inventories -7,436 -18,936 Changes in trade accounts receivable and other assets -3,666 -19,901 Changes in other short-term assets -103 -333 Changes in trade accounts payable 415 809 Changes in other liabilities -51,875 -32.958 12,875 -18.632 Cash flows from operating activities Investments in intangible assets -7,474 -81.575 Investments in fixed assets -32 -438 Financial investments 5 -729 Receipts from disposals of assets 4,189 1 Cash flows from investing activities -3,312 -82.741 Changes in financial liabilities -42,662 46.999 Cash flows from financing activities -42,662 46.999 Effect of foreign currency exchange rate changes -1,608 1.345 Effect of changes in consolidated group on cash and cash equivalents 0 10.169 Net changes in cash and cash equivalents -34,707 -42.860 Cash and cash equivalents at beginning of period 56,445 148.040 Cash and cash equivalents at end of period 21,738 105.180

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