Andy RáczChief Executive Officer

BSE Roadshow - LondonJune 17, 2002

New Solutions in the

Bus Industry

A Genuine Enterprenurial Story

First year in business: 1994

Annual growth rate over 9 years of operations: 40%

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Number of buses sold since 1994: 3,900 pieces

Promises fulfilled

Market share (2002P): 20%1. Increase US market share

Actual fact IPO promise

Optare acquisition (UK)2. Enter European market

14 new models in 9 years3. One new product each year

3000 buses worth $1 billion4. Healthy order backlog

1600 buses planned for ‘025. Increase capacity

Aftermarket revenue: 11% (of total)

6. Develop aftermarket service

Ingredients of Success

Competitive markets, demanding customersBusiness model:

Highly skilled shopfloor staffThe Team:

Deliver exactly what the customer needs

React quickly and flexibly

Master new technologies, create new solutions

Talented engineers

Professional management

Specialize in building (transit) buses

SWOT analysis

Strengths

•Successsful business model•Fresh, advanced product range•Capable team

Weaknesses

•Overweight in US market

Opportunities

•Test the business model in other (demanding) markets•Commercialize CompoBus™ technology

Threats

•Unforeseeable macroeconomic deterioration

Medium-term Strategy

15% y-o-y sales growth over 2003-2005 (reaching US$ 500 million in total revenues)

Organic growth:

Hungarian / CEE marketNew markets:

30% y-o-y net income growth

Continue new product development

Continental EU

East Asia

Thank you for your

attention!

Visit our web sites at:

www.nabiusa.comwww.nabi.hu

www.optare.com