According to the provisional figures for the end of quarter one 2005, the Brain Force Software group recorded turnover of EUR 16.44 million (previous year: EUR 15.46 million) and an EBITDA of TEUR 884 (previous year: TEUR 766). Turnover therefore exceeded the previous year's level by 6.4 percent, equivalent to TEUR 984. The EBITDA was raised by 15.4 percent. During the same period, the EBIT stood at TEUR 411 (previous year: TEUR 406). Thee EBIT margin fell slightly to 2.5 percent (previous year: 2.6 percent) on account of increased expenditure linked to scheduled depreciation of group software products.

As with the EBIT, earnings after taxes and minorities remained virtually unchanged at TEUR 134 (previous year: TEUR 136). After the first three months of 2005, earnings per share stood at EUR 0.01. Since the weighted average number of shares in the previous year was 49.0 percent below the value for the current quarter, earnings per share for the first quarter 2004 amounted to EUR 0.03.

The results for the first quarter correspond to the planned values for 2005. The Executive Board continues to anticipate earnings per share of EUR 0.19, not taking special circumstances into account.

The results for the segments formed in 2005 are set out below (owing to the restructuring of segments, comparisons with the previous year are not possible).

The Enterprise Services business area recorded turnover of EUR 7.62 million and a segment EBIT of TEUR 346. This segment incorporates exclusively service-based activities of the Brain Force group. The EBIT margin of 4.5 percent was in line with expectations for the year as a whole.

The Business Solutions business area achieved turnover of EUR 4.88 million and a segment EBIT of TEUR 391. This segment comprises the former Financial Solutions area along with the specialist areas of Banking Solutions, Business Process Outsourcing and ERP/CRM Systems. The EBIT margin for the first quarter was 8.0 percent.

The Technology and Infrastructure business area posted turnover of EUR 3.95 million and a segment EBIT of TEUR 58. This area incorporates the business of the former Communication Networks segment along with the specialist areas of Application Hosting, Security Solutions, Infrastructure Management and Storage Solutions. The EBIT margin stood at 1.5 percent in the first quarter. On the basis of orders on hand, confirmed delivery dates for software licences and current sales assessments, the Executive Board expects the EBIT margin to attain the level of the margin for the Business Solutions segment for the year as a whole.

As of 31st March 2005, non-assignable group costs stood at TEUR 384.

As per 31st March 2005, means of payment and short-term monies assessed in current investments of EUR 18.58 million were available to the Brain Force Software group (EUR 18.49 million on 31st December 2004).

The finalised figures for first quarter 2005 will be published on 30th May 2005 together with the first quarter report on the company home page (www.brainforce.com) under 'Investors'.