According to current figures, the BRAIN FORCE Group has achieved the annual result shown below for financial year 2006 (year ending December 31, 2006):

in EUR million	01.01.05-31.12.05	01.01.06-31.12.06 adjusted*	YoY growth as %	01.01.06-31.12.06 unadjusted*
Sales	76,62	88,50	+15,5	88,50
EBITDA	6,05	7,70	+27,3	6,50
EBIT	3,58	4,67	+30,4	2,92
EPS	0,30	0,37	+23,3	0,30

* adjusted or not adjusted for special effects, i.e., adjustment of receivables and depreciation and amortization expense based on purchase price allocation

Despite BenQ's insolvency and a boost in depreciation and amortization expense based on purchase price allocation, the firm was able to clearly outperform analysts' forecasts.

According to current calculations, BRAIN FORCE increased their sales in the 2006 financial year by 15.5 percent to a total of EUR 88.5 million. This was despite the year's performance being negatively affected by the insolvency of BRAIN FORCE's long-standing customer BenQ Mobile at the end of Q3, 2006, and by higher depreciation and amortization expense compared with the previous year, due to purchase price allocation resulting from acquisitions. Without these special effects, the 2006 result is much better. EBITDA (earnings before interest, taxes, depreciation and amortization) rose to a noteworthy EUR 7.70 million and EBIT (earnings before interest and taxes) to EUR 4.67 million. In spite of a large increase in the number of shares resulting from the share capital issue, the company was able to achieve earnings per share (EPS) of EUR 0.37.

The margins show quite a positive trend. Adjusted for special effects, the EBITDA margin rose to 8.7 percent, which is almost one percentage point over last year's result. The EBIT margin grew from 4.7 percent in 2005 to 5.3 percent, which demonstrates that BRAIN FORCE was in a position to enhance their profitability, which they had already forecast in the past.

Taking account of special effects, EBITDA is EUR 6.50 million and EBIT EUR2.92million. It should be noted that despite these effects and the share capital issue of 50 percent, earnings per share again reached last year's record mark of EUR 0.30. In the reporting period, particularly the fourth quarter (Oct. 1 – Dec. 31, 2006), saw an impressive growth. Sales in this period underwent a YoY increase of 15.2 percent and reached EUR 25.35 million, which is the best Q4 turnover ever in the company's history. Also, the Q4 result is quite positive: EBIT rose by 58.1 percent to EUR 1.66 million, and EBITDA by 51.4 percent to EUR 2.74 million, which confirms the company's improving performance.

Final 2006 numbers will be published on March 27 at our press conference on financial performance.