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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>&nbsp;</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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