SPANISH ONLINE ADVERTISING WILL GROW TO 275 MILLION EUROS ? OR 4.3 PERCENT
OF TOTAL AD-SPEND ? IN 2007, ACCORDING TO FORRESTER

AMSTERDAM, Netherlands, 21 May 2002 . . . European advertisers will use
multichannel campaign feedback to set digital advertising budgets -- and
drive the online ad market to 6.4 billion euros in 2007, according to a new
report by Forrester Research B.V. (Nasdaq: FORR). While Web marketing
matures, mobile and iDTV will surface as ad platforms.

"To determine how marketers' changed budgeting will affect European online
ad spending, Forrester forecast Web, iDTV, and mobile advertising in 17
European countries," said Forrester Analyst Diana Janssen. "This forecast
shows that Web advertising picks up again in 2003, while advertising on
mobile phones and iDTV start quietly. The UK and Germany will account for
almost 50 percent of total Web advertising spend in Europe by 2007, driving
1.5 billion euros and 1.4 billion euros respectively; Sweden and Norway
outpace all other countries in relative terms, devoting roughly 10 percent
of ad budgets to the Web in 2007. By then, Norwegian marketers will spend
36 euros per capita on Web ads, compared with 9 euros today."

With 8.5 billion SMS messages sent in Europe every month and EMS and MMS on
the way, advertisers are warming up to address consumers via mobile phones.
Mobile Internet via GPRS and UMTS will boost permission-based dialogues and
sponsored content. To avoid violating the phone's personal nature,
marketers will limit advertising to 633 billion euros in 2007, 10 percent
of total online ad budgets. And iDTV's 46 percent penetration in Europe
tempers total ad spend to 767 million euros in 2007. The UK -- with more
than 10 million subscribers today and counting -- is Europe's lone ranger,
accounting for almost 40 percent of Europe's iDTV ad spend.

"When we talked with advertisers in 2001, they were bullish about rising
online budgets, yet frustrated by a lack of adequate metrics for Web
marketing," Janssen added. 'Advertising heavily with banner ads, they
anticipated shifting over the next three years to more varied ad formats
like sponsorship, as well as to better-integrated campaigns across multiple
devices. The interviewees kept their word: 30 percent will not increase the
proportion of spend on banner ads. Instead, 33 percent plan to boost email
marketing initiatives. The majority of marketers now feel comfortable with
results-based metrics like lift in sales; only 17 percent said they would
try additional metrics in the future. Today, most online ad budgets go
straight to PC-based campaigns; only 22 percent of our respondents
advertise via mobile or iDTV. But by 2005, interviewees plan to spend an
average of 15 percent of their digital marketing budget on new devices."

For the report "Online Advertising Pick Up Again," Forrester interviewed 30
marketers across Europe, whose overall marketing budgets average 32 million
euros per year.