Delivering The Blueprint For Growth

1
Delivering The Blueprint For Growth

• July 20, 2004

2
Forward-Looking and Cautionary Statements

• This presentation contains projections of future
  results and other forward-looking statements that
  involve a number of trends, risks and
  uncertainties and are made pursuant to the safe
  harbor provisions of the Private Securities
  Litigation Reform Act of 1995. The following
  important factors could cause actual results to
  differ materially from those projected in such
  forward-looking statements.
• Demand for DBs products is subject to intense
  competition, changes in customer preferences and,
  to a lesser extent, economic conditions which
  impact customer behavior. The Companys results
  are also dependent upon its continued ability to
  reallocate expenses to invest for growth through
  its financial flexibility program invest in its
  database and maintain its reputation for
  providing reliable data execute on its plan to
  improve the business model of its International
  segment and thereby improve its global data
  quality while realizing improved financial
  performance in that segment rely on its
  customers belief in the value of the DUNSRight
  quality process as a key driver of revenue
  growth manage employee satisfaction and maintain
  its global expertise as it implements its
  financial flexibility program protect against
  damage or interruptions affecting its database or
  its data centers develop new products or enhance
  existing ones to meet customer needs.
• The Company is also subject to the effects of
  foreign economies, exchange rate fluctuations and
  U.S. and foreign legislative or regulatory
  requirements. Its results are also dependent
  upon the availability of data from its database
  and the ability of its strategic partners to
  fulfill their contractual obligations to satisfy
  the Companys customers and promote and protect
  the DB brand. In addition, the Companys
  ability to repurchase shares is subject to market
  conditions, including trading volume in the
  Companys stock. Developments in any of these
  areas could cause actual results to differ
  materially from those that have been or may be
  projected.
• In addition, the Companys projection for free
  cash flow in 2004 is dependent upon the Companys
  ability to generate revenue, the Companys
  collection processes, customer payment patterns
  and the amount and timing of payments related to
  tax matters and legal proceedings involving the
  Company as more fully described in the Companys
  2004 1st Quarter Form 10-Q.
• For a more detailed discussion of the trends,
  risks and uncertainties that may affect DBs
  operating and financial results and its ability
  to achieve the financial objectives discussed in
  this presentation, readers should review the
  Companys Annual Report on Form 10-K for the
  fiscal year ended December 31, 2003, including
  the section entitled Item 7. Managements
  Discussion and Analysis of Financial Condition
  and Results of Operations (MDA), and the
  subsection entitled Trends, Risks and
  Uncertainties in the MDA. Copies of the
  Companys Annual Report on Form 10-K and 2004 1st
  Quarter Form 10-Q are available on its web site
  at www.dnb.com and on the SECs web site at
  www.sec.gov. DB cautions that the foregoing
  list of important factors is not complete and
  does not undertake to update any forward-looking
  statements.
•  

3
Non-GAAP Financial Measures

• This presentation contains certain non-GAAP
  financial measures, including core revenue before
  the effect of foreign exchange, organic core
  revenue growth, operating income and diluted
  earnings per share before non-core gains and
  charges, and free cash flow.
•  We define core revenue as total revenue less the
  revenue of divested businesses. We analyze core
  revenue growth before the effect of foreign
  exchange. We also separate and analyze core
  revenue growth before the effect of foreign
  exchange among two components, organic core
  revenue growth and core revenue growth from
  acquisitions. We define non-core gains and
  charges as restructuring charges (whether
  recurring or non-recurring) and certain other
  items we consider do not reflect our underlying
  business performance. We define free cash flow
  as net cash provided by operating activities
  minus capital expenditures and additions to
  computer software and other intangibles. We
  believe these measures are useful because they
  reflect how we manage and evaluate the
  performance of our business, they provide an
  important insight into the underlying health of
  our business and they are the primary indicators
  management uses as a basis for the planning and
  forecasting of future periods and for
  compensation purposes. Please see DBs Form 8-K
  dated and filed on July 19, 2004 with the
  Securities Exchange Commission for additional
  discussion of how the Company defines these
  measures, why it uses them and why it believes
  they provide useful information to investors.
• Except for our revenue growth aspirations which
  are provided only on a non-GAAP basis because we
  are unable to predict the future movements of
  foreign exchange rates or potential business
  model changes, the most directly comparable GAAP
  measure and reconciliation between each non-GAAP
  measure and the comparable GAAP measure can be
  found in the Appendix to this presentation. Our
  revenue growth results and aspiration are
  provided only on a non-GAAP basis, or as core
  revenue growth before the effect of foreign
  exchange, unless otherwise noted. In addition,
  all references to operating income and diluted
  earnings per share growth results and aspirations
  are before non-core gains and charges, unless
  otherwise noted.
•  

4
(No Transcript)
5
Yesterday, we announced strong Q2 revenue and
earnings results
DB Announces Strong Second Quarter Resultsand
Raises 2004 Core Revenue Guidance
PRESS RELEASE
6
which represents our third consecutive quarter
of strong organic revenue growth
DB Quarterly Revenue Growth Percent
Total growth
Organic growth
11
9
8
7
7
7
6
2
3Q
4Q
1Q
2Q
2004
2003
7
We also continue to deliver strong EPS growth
DB Quarterly EPS Growth Percent
22
20
18
17
3Q
4Q
1Q
2Q
2004
2003
8
For 2004, we increased our revenue guidance to
6 to 8 and confirmed our EPS guidance
Guidance
Revenue growth
6 - 8
EPS
2.94 - 2.99
For a reconciliation to the most comparable GAAP
measure, see appendix.
9
Today, well show you how we are transforming DB
and laying the foundation to create even more
shareholder value in 2005-2007

• AllanWe have accomplished a lot and theres
  even more ahead
• SteveWe are confident we will deliver our 7 to
  9 revenue growth aspiration
• GregWe will continue to drive growth and
  profitability in our International business
• SaraWe are confident we will grow margins by
  100 basis points and continue to deliver EPS in
  the mid to upper teens

10
Lets start by looking back at the progress weve
made since our journey began four years ago
Become a Growth Company with an Important
Presence on the Web
11
We said we would transform DB from an
under-performing company to a high-performing
company
From Under-Performing Organization with
Under-Leveraged Assets
To High-Performing Growth Company Delivering
Consistent Returns to Shareholders
12
And that we would achieve this without
sacrificing earnings
From Under-Performing Organization with
Under-Leveraged Assets
To High-Performing Growth Company Delivering
Consistent Returns to Shareholders
Revenue Growth 3
Operating Income Growth 10
EPS Growth 10
13
We are doing that and even more
2003 Results
Oct. 2000 Commitment
Revenue Growth 3
5
Operating Income Growth 10
13
EPS Growth 10
18
14
We also achieved our Web revenue aspiration and
continue to focus on delivering even more
2004 YTD
Oct. 2000 Commitment
Revenue Delivered Over the Web Majority
80
15
Our progress is driven by our Blueprint for
Growth strategy, which serves as the roadmap for
our transformation
16
We are turning our Winning Culture, Brand and
Flexible Business Model into powerful competitive
advantages
17
Lets start with a review of our Winning Culture,
which powers our strategy
18
We know that our focus on building a Winning
Culture through improved leadership is making a
difference
19
We have more than 5,000 team members engaged in
driving our success
Survey participation 98
20
Our team understands and has confidence in our
strategic direction
Survey participation 98
Understand our Blueprint 87
Confidence in our Blueprint 75
21
We are world-class at taking ownership to become
better leaders
Survey participation 98
Understand our Blueprint 87
Confidence in our Blueprint 75
Taking steps to improve leadership 92
22
And we know that when our customers win, DB and
our shareholders win
Survey participation 98
Understand our Blueprint 87
Confidence in our Blueprint 75
Taking steps to improve leadership 92
Understand my role in enabling customers to
Decide with Confidence 91
23
Through our investments in building a Winning
Culture, we are creating a company of great
leaders focused on driving our success
Survey participation 98
Understand our Blueprint 87
Confidence in our Blueprint 75
Taking steps to improve leadership 92
Understand my role in enabling customers to
Decide with Confidence 91
24
We are also unlocking the value of one of our
most under-leveraged assets our Brand
25
When we launched our Blueprint for Growth
strategy, the DB Brand was highly recognized,
but its value was built on being a data provider
Data Provider
26
To unlock the value of our Brand, we first
repositioned it as one that enables customers to
make confident business decisions
27
and created one powerful visual representation
of the value we provide to our customers
28
and we go to market with one compelling value
proposition our DUNSRightTM quality process
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
29
In addition to our Culture and our Brand, we are
also transforming our Business Model to fund
growth and create value for shareholders
30
And weve done this year after year
Annualized Savings Derived from Financial
Flexibility Millions (Annualized)
130
80
80
75
70
2000
2004E
2001
2002
2003
Year Announced
Before any restructuring charges and transition
costs and before any reallocation of spending
31
which has been a key contributor to margin
improvements
Operating Margin Percent
23.3
22.5
19.9
17.1
2000
2001
2003
2002
32
By establishing a foundation built on our Brand,
our Business Model and our Culture, we are
driving growth and creating value
33
Last year, we communicated our aspiration to
deliver 7 to 9 sustainable revenue growth by
2005-2007 and continue to deliver strong EPS
2005-2007 Aspiration
Revenue Growth
7-9
EPS Growth Mid to
upper teens
34
And we are making great progress toward this
aspiration in 2004
2004 Guidance
2005-2007 Aspiration
Revenue Growth
7-9
6-8
EPS Growth Mid to
upper teens
16-18
35
As shareholders, you have seen the results of
delivering on our Blueprint for Growth strategy
36
We expect our EPS will have doubled in the last
four years
EPS per share
2.94 - 2.99
1.47
2000
2004E
37
We expect our free cash flow will have grown
considerably
Free Cash Flow Millions
230 - 245
135
2000
2004E
2000 free cash flow has been adjusted for the
one-time tax payment to the IRS related to the
utilization of capital losses 1989-1990. See
appendix for reconciliation of free cash flow.
38
which will enable us to repurchase 485 million
of shares
Share Repurchase Millions
200
100
85
100
2001
2004E
2003
2002
39
Our stock price performance has begun to reflect
these results
Shareholder Return Millions
350
DB 209
300
250
200
Indexed Chart
SP 400 9
150
100
SP 500 -23
50
3/29/02
9/29/00
3/29/01
6/29/01
9/29/01
6/29/02
9/29/02
3/29/03
6/29/03
9/29/03
3/29/04
7/15/04
12/29/00
12/29/01
12/29/02
12/29/03
40
We believe our strategy has even more
potentialto deliver greater value to our
customers and drive sustainable growth for DB
41
As a result, we have evolved our Aspiration to
reflect our intensified focus on our customers
success
To be the most trusted source of business
insight so our customers can decide with
confidence
42
Now, lets show you how our strategy will drive
sustainable revenue growth going forward

• AllanWe have accomplished a lot and theres
  even more ahead
• SteveWe are confident we will deliver our 7 to
  9 revenue growth aspiration
• GregWe will continue to drive growth and
  profitability in our International business
• SaraWe are confident we will grow margins by
  100 basis points and continue to deliver EPS in
  the mid to upper teens

43
We are making progress toward achieving our 7
to 9 revenue growth aspiration
Revenue Growth Percent
8
5
3
1
2004 YTD
2001
2002
2003
44
Before we review our progress, lets provide an
overview of the key revenue sources, first from a
geographic perspective
2003 Revenue by Geography Percent
International
25
75
North America
45
and then by customer solution set
2003 Revenue by Solution Percent
Sales Marketing
28
Supply Management
3
67
2
E-Business
Risk Management
46
Driving our progress has been our focus on seven
strategic priorities
1. Build the brand of DB around the DUNSRightTM
quality process
2. Grow RMS by 3-5 annually
3. Grow SMS by 4-7 annually
4. Grow SMS by 15-20 annually
5. Acquire or develop a 5th product line
6. Grow E-Business to consistently deliver 1
point per year
7. Implement a financially flexible business model
Winning Culture is at the foundation of these
priorities
47
Our first strategic priority is to build the
Brand around DUNSRightTM our unique value
proposition
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
48
Our DUNSRightTM quality process powers all our
Customer Solution Sets
DUNSRightTM
49
Our second priority, Risk Management Solutions
(RMS), helps our customers increase profitability
while mitigating risk

• Should I extend credit to this new customer?
• What credit limit should I set?
• Will this customer pay me on time?

• What is my total credit risk exposure?
• Should I change my credit policies?
• How can I proactively manage my cash flow?

50
Our RMS revenue has grown recently afteryears of
marginal performance
RMS Revenue Growth Percent
7

• Weve extracted more value from our
  DUNSRightTMquality process
• Weve implementeda new risk management
  subscriptionplan

3
1
1
2004 YTD
2001
2003
2002
51
Our third priority, Sales Marketing Solutions
(SMS), helps customers grow their businesses
faster

• How can I exploit untapped opportunities with my
  existing customers?
• How can I allocate sales force resources to my
  revenue growth potential?

• Who are my best customers?
• How can I find prospects that look like my best
  customers?

52
While our SMS business has grown, it has been
inconsistent as a result of product mix changes
and environmental factors
SMS Revenue Growth Percent
8

• Opportunities from investing in our sales force
  are gaining traction
• DUNSRightTM investments in Super 7 are also
  aiding our growth

6
1
1
2001
2004 YTD
2002
2003
53
Our next priority, Supply Management Solutions
(SMS), helps our customers generate new and
recurring savings in their supply base

• How can I avoid supply chain disruption?
• How can I know which suppliers are also
  customers?
• How can I find suppliers to help achieve my
  corporate diversity objectives?

• How much do I spend on purchasing?
• How much businessdo I do with each supplier?
• How can I minimize my purchasing costs?

54
Our SMS business, which has been a strong area
for us, is off to a poor start this year
SMS Revenue Growth Percent
18
16

• We are increasing our sales pipeline
• We are improving product delivery to increase
  customer satisfaction and renewal rates

- 2
- 5
2001
2002
2003
2004 YTD
55
Our E-Business Solutions help customers convert
prospects to clients faster

• What are the prospects key business priorities?
• How does the prospects business compare to my
  customers?
• How does the prospect compete to win in their
  industry?

• Who are the key senior level decision makers?
• How do I build a strong relationship with them?

56
Our priority to grow E-Business continues to
deliver very good results
E-Business Revenue Millions
12

• Leveraged the power of DUNSRightTM to double the
  size of Hoovers database

11
10
8
8
3
3Q
4Q
1Q
2Q
1Q
2Q
2003
2004
57
And finally, we continue to explore opportunities
to acquire or develop a 5th product line that
leverages our DUNSRightTM quality process

• Selective Acquisitions
• Enterprise Risk Compliance
• Predictive Analytics

58
As weve said, were making good progress by
focusing on our strategic priorities
1. Build the brand of DB around the DUNSRightTM
quality process
2. Grow RMS by 3-5 annually
3. Grow SMS by 4-7 annually
4. Grow SMS by 15-20 annually
5. Acquire or develop a 5th product line
6. Grow E-Business to consistently deliver 1
point per year
7. Implement a financially flexible business model
Winning Culture is at the foundation of these
priorities
59
As we look forward, we see three fundamental
factors that give us confidence that we can
deliver our 7 to 9 revenue growth aspiration
The continued implementation of ourBlueprint for
Growth strategy
1
The marketplace needs what we provide andthe
opportunity to provide more is profound
2
Our unique competitive advantage in DUNSRightTM
enables us to meet more of our customers needs
3
60
First, the foundation weve built on our Culture,
our Brand and our Flexible Business Model will
fuel our growth
61
Second, we fulfill fundamentally essential needs
that are critical to the health of our customers
businesses, in good times and in bad
Mitigate risk, increase cash flow and drive
increased profitability
We enable customers to
Increase revenue from new and existing customers
Identify purchasing savings and ensure compliance
within their supply base
62
In addition to fulfilling essential needs for our
customers, a profound growth opportunity exists
in the marketplace
Marketplace
63
Lets look at our view of the marketplace one
step at a time, beginning with our own business
External Spend
DB Revenue
64
We add to this our direct competitors share of
the B2B marketplace
External Spend
Competitors Revenue
DB Revenue
65
And we also view the B2B marketplace through the
lens of what our customers spend against their
own internal processes
Internal Spend
Customers Internal Spend
External Spend
Competitors Revenue
DB Revenue
66
We believe that by leading with our new
Aspiration, we will unlock this profound
opportunity existing in our customers internal
spend
To be the most trusted source of business
insight so our customers can decide with
confidence
67
The third fundamental factor giving us confidence
about revenue growth is DUNSRightTM _ our unique
competitive advantage
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
68
Through the first DUNSRightTM driver Global
Data Collection we bring together data from a
variety of sources worldwide for our customers
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
69
We collect the most complete data about business
entities globally

• Direct Investigations, News and Media
• 100 million phone calls annually to businesses
• Top news providers
• Merger/Acquisitions

• DB Global Database
• 86 million businesses
• Over 200 countries

• Payment and Financial Data
• 600 million trade records updated annually
• Public company financials

Over 1 Million Daily Updates

• Public Records and Government Registries
• 100 million records
• Suits, liens, judgments and bankruptcy filings
• Business registrations

DB D-U-N-S Number
70
As companies look for growth outside the U.S.,
our Global Data Collection gives them the most
comprehensive view of worldwide prospects
A High-Tech Multinational Company
ChinaUKJapanGermanyCanadaFranceBrazil
DBGlobal Database
Global Prospects
71
As global data changes so quickly, DUNSRightTM
helps customers keep their portfolios up to date

• In the next 24 hours
• 8,640 businesses will have a suit, lien or
  judgment filed against them
• 5,760 business addresses will change
• 2,680 leadership (CEO, CFO, etc.) changes will
  occur
• 480 businesses will fail

DBGlobal Database
Customers File
72
Our second driver - Entity Matching - enables
customers to gain a single, more accurate view of
their customers
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
73
A global chemical company needed to consolidate
400,000 records from 30 legacy systems to better
manage their portfolio of customers and suppliers
30 Regional Legacy Systems
One Global ERP System
74
We applied our DUNSRightTM Entity Matching
process to their portfolio
ABC, Inc 123 Elm St. Bethlehem, PA 18025 (SIC)
5411-02 Chuck Smith, President
1
DB D-U-N-S Number12-345-6780 ABC, Inc CS
Manufacturing P.O. Box 111 Bethlehem, PA
18055 123 Elm St. Bethlehem, PA 18025 (SICs) 5411
0202, 5541 9901 Charles Smith, President 610
882-7600
CS Manufacturing P.O. Box 111 Bethlehem, PA
18055 (SIC) 5411-02 Chuck Smith, President 610
882-7600
2
1
Charles Smith 123 Elm St. Bethlehem, PA
18025 (SIC) 5541-99 215 882-7600
3
75
As a result, DUNSRightTM determined there were
only 100,000 unique customers and suppliers in
their portfolio
100,000 unique D-U-N-S Number records
400,000 records in global ERP system
76
Entity Matching also enables our customers
togain a better understanding of their unique
customer relationships
A High-Tech Multinational Company
Spain

• 76 are unique customer relationships
• 24 are duplicate records

DBGlobal Database
Portugal
Italy
Netherlands
250,000 total records
77
The D-U-N-S Number allows customers to rely on a
unique publicly recognized identification system
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
78
With our D-U-N-S Number, we track businesses
through their life cycle, including all of the
changes that occur over time
Today
Hewlett-Packard Company DUNS 00-912-2532 Started
1939 Palo Alto, CA Compaq Computer Operating
as a Subsidiary of Hewlett-Packard Company DUNS
00-389-7733 Started 2002 Houston, TXCompaq
subsidiary dissolved in April 2004
Digital Equipment Corp DUNS 00-103-8066 Started
1957 Maynard, MA Acquired by Compaq Computer in
1998
Hewlett-Packard Company DUNS 00-912-2532 Started
1939 Palo Alto, CA
Compaq Computer DUNS 00-389-7733 Started
1982 Houston, TX Acquired by Hewlett Packard in
2002
Tandem Computer DUNS 06-910-1152 Started
1974 Cupertino, CA Acquired by Compaq Computer in
1997
79
Corporate Linkage provides customers with a
total view of corporate risk and growth
opportunity
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
80
Without DUNSRightTM, companies typically identify
their customers based on the assumption that they
are separate and unrelated
A High-Tech Multinational Company
Customer 1 Mobil Petrochemical Sales
Supply Corporation NV Zaventem, Belgium
Customer 2 Advanced Elastomer Systems
SA Brussels, Belgium
Customer 3 Kuen Falca SRL Merano, Italy
Customer 4 Esso Portuguesa, LDA Lisbon, Portugal
81
Our Corporate Linkage capability reveals
previously unseen relationships so our customers
know who their customers really are
DUNS 00-121-3214 Exxon Mobil Corporation Irving,
TX USA (Global Ultimate)
Not relatedto Exxon MobilCorporation
Customer 1 DUNS 77-473-4461 Mobil Petrochemical
Sales SupplyCorporation NVZaventem,
Belgium (Single location)
Customer 2 DUNS 76-531-3887 Advanced
ElastomerSystems SABrussels, Belgium (Subsidiary
)
Customer 4 DUNS 44-900-2096 EssoPortuguesa,
LDALisbon, Portugal (Subsidiary)
Customer 3 DUNS 43-753-0165 Kuen Falca
SRL Merano, Italy (Subsidiary)
82
Corporate Linkage also reveals our customers
entire corporate family relationships, exposing
them to significant new growth opportunities
DUNS 00-121-3214 Exxon Mobil Corporation Irving,
TX USA (Global Ultimate)
New Growth Opportunities
DUNS 76-531-3887 Advanced Elastomer Systems
SA Brussels, Belgium (Subsidiary)
63 more subsidiaries Of Exxon Mobil Corporation
DUNS 44-900-2096 Esso Portuguesa, LDA Lisbon,
Portugal (Subsidiary)
645 more direct branches of Exxon
Mobil Corporation
DUNS 43-753-0165 Kuen Falca SRL Merano Italy (Subs
idiary)
2,429 more branch locations under the 1st
level subsidiaries
4 more branches of Esso Portuguesa, LDA
1 more branch of Advanced Elastomer SA
83
and helping them determine whether members of
these families are also their suppliers, which
directly affects their negotiating leverage
DUNS 00-121-3214 Exxon Mobil Corporation Irving,
TX USA (Global Ultimate)
On Procurement Files
DUNS 42-840-6078 Esso Italiana SPA Rome, Italy
DUNS 44-900-2096 Esso Portuguesa, LDA Lisbon,
Portugal (Subsidiary)
DUNS 76-531-3887 Advanced Elastomer Systems
SA Brussels, Belgium (Subsidiary)
5 additional subsidiaries Of Exxon
Mobil Corporation
DUNS 43-753-0165 Kuen Falca SRL Merano Italy (Subs
idiary)
9 more branches Exxon Mobile Corporation
84
Predictive Indicators provide our customers with
insight into the likelihood a business will
perform in a specific way in the future
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
85
Through Predictive Indicators, we can use our
DUNSRightTM quality process to enable customers
to make better, more informed decisions
DBPredictive Indicators

Better Decisions

• Descriptive Ratings
• Predictive Scores
• Demand Estimators

• Accept/Reject
• Pricing
• Targeting

Customers File
86
With this new insight, our customers can
customize their marketing strategies and improve
response rates
A Large Financial Services Company
Response Rate Percent
1.42
0.86
Without DB
With DB Response Model
87
...and identify lower-risk prospects most likely
to meet our customers credit evaluation criteria
Approval Rate Percent
42
27
Without DB
With DB Approval Model
88
These five drivers demonstrate how the power of
DUNSRightTM enables us to meet our customers
needs and drive sustainable growth
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
89
These fundamental factors drive our confidence
that we will achieve our revenue growth aspiration
The continued implementation of ourBlueprint for
Growth strategy
1
The marketplace needs what we provide andthe
opportunity to provide more is profound
2
Our unique competitive advantage in DUNSRightTM
enables us to meet more of our customers needs
3
90
Looking forward, we feel confident we can
leverage these factors to deliver our 7 to
9revenue growth aspiration
7 - 9
5th Product Line
E-Business Solutions
Supply Management Solutions
Sales Marketing Solutions
Risk Management Solutions
2005 - 2007
91
Looking at it by customer solution, we expect our
RMS business to grow 3 to 5 annually
RMS Revenue Growth Percent
7
3 - 5 annually
3
1
1
2004 YTD
2001
2003
2002
92
We expect our SMS business to grow 4 to 7
annually
SMS Revenue Growth Percent
8
6
4 - 7 annually
1
1
2001
2004 YTD
2002
2003
93
And, we expect our SMS business to grow 15 to
20 annually
SMS Revenue Growth Percent
18
16
15 - 20 annually
- 2
- 5
2001
2002
2003
2004 YTD
94
In addition to our current business, we expect
our E-Business to drive continued growth
E-Business Revenue Millions
12
11
10
8
8
One point of growth
3
3Q
4Q
1Q
2Q
1Q
2Q
2003
2004
95
We believe our 5th product line, powered by
DUNSRightTM, will be a source of growth

• Enterprise Risk Compliance
• Predictive Analytics
• Acquisitions

One point of growth
96
We feel confident that this portfolio of customer
solutions will deliver our 7 to 9 sustainable
revenue growth aspiration
97
Now, lets show you how we are transforming our
International business, which is one of the
drivers of our sustainable growth

• AllanWe have accomplished a lot and theres
  even more ahead
• SteveWe are confident we will deliver our 7 to
  9 revenue growth aspiration
• GregWe will continue to drive growth and
  profitability in our International business
• SaraWe are confident we will grow margins by
  100 basis points and continue to deliver EPS in
  the mid to upper teens

98
When we launched the Blueprint for Growth
strategy, our International business was
underperforming

• Not growing
• Unprofitable and requiring cash
• No distinctive value proposition
• No focused strategy

99
At that time, International represented about one
third of DB revenue and was in decline
2000 Revenue by Geography Percent
International
32
68
North America
100
International was also losing money and
negatively impacting overall profitability
2000 Operating Margin Percent
30
-2
North America
International
101
Our International operations consisted of full
ownership of 34 self-contained, independent
businesses around the globe
102
which undermined our value proposition for our
global customers

• Uneven data quality in certain geographies
• Inconsistent product implementation market to
  market
• Lack of a global customer strategy

103
To improve our performance, we created a new
strategy for International
We focused on International as one organization,
rather than as 34 independent businesses
1

• We then focused on establishing leading
  competitive positions in each major market by
  enhancing our DUNSRightTM quality process,
  either by
• Direct Ownership
• Partnerships

2
104
Our first step was to focus on International as
one organization, rather than independent
businesses

• Manage common functions holistically
• Focus sales and marketing functions locally
• Consolidate infrastructure

105
We then focused on establishing leading
competitive positions in each major market
We define a leading competitive position as

• Enhanced DUNSRightTMquality process
• Leading RMS provider
• Leading SMS provider
• Potential to grow both

106
We determined that we could achieve this leading
competitive position by either direct ownership
or establishing partnerships
We will achieve a leading competitive position by
We define a leading competitive position as

• Direct ownership
• - or -
• Establishing strategic partnerships

• Enhanced DUNSRightTMquality process
• Leading RMS provider
• Leading SMS provider
• Potential to grow both

107
We are now focused in those direct ownership
markets where we either have or can achieve a
leading competitive position
We define a leading competitive position as

• In Europe
• Italy
• UK
• Benelux

• Enhanced DUNSRightTMquality process
• Leading RMS provider
• Leading SMS provider
• Potential to grow both

108
In other markets, we have established
partnerships with strong players locally that are
able to enhance our DUNSRightTM quality process
2001
2004 YTD
2002
2003

• Israel
• Sweden
• Denmark
• Norway
• Finland

• Japan
• Australia
• New Zealand
• Malaysia
• Thailand

• Korea
• Singapore

• India / Pakistan / Middle East
• Germany
• Austria
• Switzerland
• Poland
• Hungary
• Czech Republic
• Spain
• Portugal

Announced yesterday
109
Our strategy for International is delivering
strong results

• Enhanced DUNSRightTMglobally
• Improved revenue growth
• Improved profitability

Focus on International asone business
1
Establish leading competitivepositions either
throughownership or partnership
2
110
We are enhancing the drivers of our DUNSRightTM
quality process
Corporate Linkage 4
Entity Matching 2
Predictive Indicators 5
D-U-N-S Number 3
Global Data Collection 1
Quality Information
DBGlobalDatabase
Quality Assurance
111
We have increased our International database,
which enhances our DUNSRightTM Global Data
Coverage
Growth of International Database Millions of
Records
53
40
2004 YTD
2000
112
Our strategic partnerships, such as the one in
Japan, have enabled us to expand the breadth of
our database coverage
Partnership with TSR in Japan
DBGlobalDatabase
DBGlobalDatabase
240,000Records on JapaneseBusinesses
2,000,000Records on JapaneseBusinesses
113
While others, such as our partnership in the
Nordic region, enhance the depth of coverage
DBGlobalDatabase
Best SMS Database in Nordics
114
We are investing in other DUNSRightTM
enhancements to improve the quality of our
information, such as our acquisitions in Italy
DataHouse
DBGlobalDatabase
Italian Real Estate Information
115
Our International strategy has greatly expanded
our DUNSRightTM Corporate Linkage capabilities
Number of Priority Corporate Linkage
Relationships
5,000
2,000
2004 YTD
2000
116
As a result of this focused strategy, we are
driving improved revenue growth in our
International business
International Revenue Growth Percent
8
5
2
2
-1
2003
2004 YTD
2001
2002
2000
117
International has also generated significant
improvements in operating margins
International Margin Percent
14
12
6
-2
2000
2001
2002
2003
118
We are transforming our international business
and making it a key contributor to overall growth
and profitability

• Enhancing our DUNSRightTM quality process
• Creating a platform for sustainable revenue
  growth
• Becoming a key contributor to profitability

Creating shareholder value
119
Now, lets show you how our business model fuels
our sustainability in revenue growth and powers
our ability to consistently deliver EPS

• AllanWe have accomplished a lot and theres
  even more ahead
• SteveWe are confident we will deliver our 7 to
  9 revenue growth aspiration
• GregWe will continue to drive growth and
  profitability in our International business
• SaraWe are confident we will grow margins by
  100 basis points and continue to deliver EPS in
  the mid to upper teens

120
We have made good progress on our seventh
strategic priority implementing a financially
flexible business model
1. Build the brand of DB around the DUNSRightTM
quality process
2. Grow RMS by 3-5 annually
3. Grow SMS by 4-7 annually
4. Grow SMS by 15-20 annually
5. Acquire or develop a 5th product line
6. Grow E-Business to consistently deliver 1
point per year
7. Implement a financially flexible business model
Winning Culture is at the foundation of these
priorities
121
A critical step in transforming DB was creating
a financially flexible model to fund growth and
create value for shareholders
122
When we began our transformation, the challenge
was to change our fixed cost mindset
Total Costs
123
Today, we view almost every dollar that we spend
as flexible
Flexible
Not Flexible
1 billion
124
We accomplish this through a process we call
continuous reengineering
Eliminate
Standardize
Consolidate
Automate/ Migrate toWeb
Outsource

• Eliminate redundancies

• Standardize processes

• Consolidate activities

• Automate manual processes

• Outsource or offshore

125
This process of continuous reengineering has
enabled us to generate significant flexibility
year after year
Annualized Savings Derived from Financial
Flexibility Millions (Annualized)
130
80
80
75
70
2000
2004E
2001
2002
2003
Year Announced
Before any restructuring charges and transition
costs and before any reallocation of spending
126
The savings generated through continuous
reengineering are reinvested in the business or
returned to shareholders
One-time Transition Costs (20)
FF savings
Available for Investment (60)
Increase EPS (20)
Cost base 100
127
Since the bulk of these savings go back into the
business as investments
One-time Transition Costs (20)
Reinvested in the business, subject to future
reengineering (80)
FF savings
Available for Investment (60)
Increase EPS (20)
128
they become subject to future reengineering
One-time Transition Costs (20)
Reinvested in the business, subject to future
reengineering (80)
FF savings
Available for Investment (60)
Increase EPS (20)
129
In 2000, our infrastructure consisted of 3 global
data centers and multiple in-country mini data
centers
2000

• 3 global data centers
• Multiple in-country mini data centers
• 450 full-time employees
• 120 million annual cost
• All capital spend by DB

130
Today, our infrastructure consists of no data
centers and few in-country mini data centers and
we reduced our investment in this process
2004
2000

• No global data centers
• Few in-country mini data centers
• 50 full-time employees
• 65 million annual cost
• No capital spend by DB

• 3 global data centers
• Multiple in-country mini data centers
• 450 full-time employees
• 120 million annual cost
• All capital spend by DB

131
Through this process, we generated 55 million in
savings which we were able to reinvest in the
business to drive growth
Generated 44 million of funds to be
reinvested (80 of 55 million)
FF savings (55 million)
Returned 11 million to shareholders in
EPS (20 of 55 million)
132
And, we continue to reengineer our data center
operations to generate additional financial
flexibility savings in 2005

• Continue to eliminate and standardize processes
• Renegotiate agreements with current vendors
• Consolidate vendor base
• Re-bid existing outsourcing contracts

133
In 2000, our Corporate Linkage quality was
inconsistent
Eliminate
Standardize
Consolidate
Automate/ Migrate toWeb
Outsource
2000

• Inconsistent manual processes
• 2,000 priority relationships locally maintained
• 37- day MA update cycle

134
Over the past four years, weve made
significantimprovements in the consistency of
our Corporate Linkage quality
2004
2000

• Standardized and automated processes
• 5,000 priority relationships centrally maintained
• 12- day MA update cycle

• Inconsistent manual processes
• 2,000 priority relationships locally maintained
• 37- day MA update cycle

135
This process of continuous reengineering enables
us to grow revenue at a faster rate than costs,
resulting in margin improvements
Operating Margin Percent
23
17
2001
2000
2002
2003
136
In addition to margin improvement, we have also
increased free cash flow through fundamental
changes in our infrastructure

• Continuous reengineering reduces infrastructure
  inefficiencies
• Leveraging partners in key markets
• Continued outsourcing of capital intensive
  activities

Less capital is required to run same
operations No capital required in partnerships
markets Outsourcing partners absorb future
capital expense requirements
137
We have improved the capital efficiency of our
business model
Capital Expenses as a Percent of Revenue Percent
5
4
4
2
2001
2002
2003
2000
138
We have also improved our discipline around
working capital management
Days of Sales Outstanding Days
90
89
85
81
2001
2002
2003
2000
139
This strong cash flow has allowed us to fund
value-creating acquisitions and repurchase shares
Acquisitions
Share Repurchases
154M
373M
2001-2004 YTD
2001-2004 YTD
140
Our financially flexible model will continue to
drive substantial shareholder value 
Margin improvement100 basispoints

• Generate Savings
• Grow Revenue

Increasingcash
EPS mid to upper teens
141
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142
Appendix
143
Reconciliation of Non-GAAP to GAAP Measures
Reconciliation of Core and Organic Revenue Growth
Data
144
Reconciliation of Non-GAAP to GAAP Measures
Reconciliation of Product Line Revenue Growth Data
145
Reconciliation of Non-GAAP to GAAP Measures
Reconciliation of International Revenue Growth
Data
146
Reconciliation of Non-GAAP to GAAP Measures
Reconciliation of Free Cash Flow Data
147
Reconciliation of Non-GAAP to GAAP Measures
Reconciliation of Operating Income Data
148
Reconciliation of Non-GAAP to GAAP Measures
Reconciliation of Diluted EPS Data