At the end of the third quarter the liquid funds increased to EUR 3.54 million (+64.74% as compared with the third quarter 2002 and +30.96% compared with the first half of 2003). The cashflow from current activities of EUR 1.14 million underpins the positive development.

The Brain Force Software Group generated a turnover of EUR 15.47 million (plus 6.75% over EUR 14.49 million in the third quarter 2002) in the third quarter and thus exceeded the values of the last six quarters. In the first nine months of the current business year a turnover of EUR 43.93 million was generated and thus the previous year's value was reached again.

The Group's EBITDA was EUR 906,000 in the third quarter (plus 75.8% over EUR 515,000 in the third quarter of 2002). In the first nine months an EBITDA of EUR 1.45 million (plus 28.89% over EUR 1.13 million in 1-9/2002) was achieved. The Group's EBIT was EUR 126,000 in the third quarter (plus 56.84% over EUR 80,000 in the third quarter 2002). In the first nine months an EBIT of EUR -565,000 was achieved.

Brain Force Financial Solutions AG (formerly: NSE Software AG) managed to achieve the turnaround and generated a turnover of EUR 2.33 million in the third quarter, an EBITDA of EUR 322,000 and an EBIT of EUR 116,000.

The third quarter results lie within the planned figures. The Executive Board therefore assumes that for the 2003 business year the turnover will slightly exceed the previous year's value. The Group's EBITDA is expected to reach EUR 2.50 million (plus 31.27% compared with EUR 1.90 million in 2002). A turnover in the amount of EUR 66.11 million at EBITDA of EUR 4.5 million is planned for the 2004 business year.