According to the provisional figures for first quarter 2004, the Brain Force Software group has achieved turnover of EUR 15.43 million, a 12.87 percent improvement on the first quarter of the previous year. The EBITDA for the group was 85.54 percent above the comparable previous year's value at TEUR 670. The EBIT of TEUR 55.5 exceeded the figure for quarter one 2003 by as much as 129.78 percent. Moreover, the EBIT for the first quarter 2004 had been adversely affected by goodwill depreciation of TEUR 32 in respect of Brain Force Financial Solutions AG. Since the participating interest was not acquired until second quarter 2003, the comparable quarter for 2003 was not affected by this straight-line depreciation.

The regional subsidiaries in Germany accounted for 53.56 percent of group turnover (EUR 8.27 million, an increase of 30.71 percent on the same quarter of the previous year). This figure includes the turnover of Brain Force Financial Solutions AG, a majority shareholding in which was acquired during second quarter 2003. Brain Force Software GmbH in Germany increased its turnover by 5.69 percent to EUR 6.68 million.

Turnover of EUR 3.96 million was achieved in Italy, a rise of 4.8 percent on the same value for first quarter 2003. Turnover in Austria was broadly stable at EUR 2.95 million.

The means of payment available and marketable securities to the Brain Force Software group as of 31st March 2004 stood at EUR 10.26 million. This figure exceeded the value for 31st March 2003 by EUR 7.78 million.

The final figures for quarter one 2004 will be published on 27th May 2004 together with the quarterly report on the company home page (www.brainforce.com) under 'Investor Relations'.