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REFERENCE DECK FOR LIBERTY CALL June 24, 2008 Slide 2 1 1 Pro forma Historical P&L Revenue stated as if each business was owned all years SkillJam wholly owned by FUN Worldwinner acquired by FUN in March 06 Teagames acquired by FUN in August 06 2007 costs/EBITDA is pro forma, including only businesses to be contributed to GSN Prior year costs not available on a pro forma basis Comments REFORMAT Slide 3 2 Summary of Revenue Growth by Driver 2008 - 2010 ADD BACK ACQUIRED FREE GAMES Slide 4 3 FUN Forecasts a Revenue CAGR of 47% From 2007-2010 with 85% Growth in CY2008 FUNs projected 47% CAGR from 2007-2010 outperforms the casual games industry average of roughly 20% 2008 Forecast growth of 85% would be more than 30% greater than historical growth Revenue (1) (millions) $18 $25 $43 $79 $110 $137 47% 85% 53% (1) Note: Acquired free games revenue of $4.3MM, $10.7MM, and $14.8MM excluded from the analysis in 2008, 2009, and 2010 respectively. If included, total revenues equal $83MM, $120MM, and $151MM ADD BACK ACQUIRED FREE GAMES Slide 5 4 FUN Forecasts Acceleration in 2008; With 41% Growth in Q2 Alone 9% Q/Q growth is roughly in line with recent historical performance but significantly below the 42% Q/Q projections April 2008 actuals are off budget by 24% Revenue$4.4MM$5.8MM ActualBudget April 2008 Revenue Q/Q 2007-2008 (millions) 24% 9% $9 $10 $11 $12 $13 $19 $22 $25 Revenue Growth % Q/Q 2007- 2008 If this April trend continues, Q2 revenue will be $14.4MM and Q1/Q2 growth will be 9% ADD BACK ACQUIRED FREE GAMES Slide 6 5 DONT SEND THE NEXT TWO PAGES OVER Slide 7 6 Comparable Transaction Multiples Slide 8 7 Operating Metrics ADD BACK ACQUIRED FREE GAMES To Tie to Total Revenue Clarify per customer data is for WW historically, all but free games going forward