13 February 2007

The Board of Directors of Reply S.p.A. – a company listed on the STAR segment of the Italian Stock Exchange [REY.MI] - has today examined and approved the results at 31 December 2006. Significant growth across all economic and financial indicators.

In the last quarter of 2006 Reply recorded consolidated revenues of 64.1 million euros (+ 55.6%, compared to the same period of 2005). Profitability also increased, with EBITDA of 9.5 million euros (+ 54.2%) and with EBIT of 8.4 million euros (+ 54.7%).

Earnings before taxes in the fourth quarter of 2006 were 8.1 million euros (+48.6% compared to the same period in 2005).

Overall, in 2006 consolidated revenues reached 230.1 million euros, with a 59.1% increase compared to fiscal year 2005. EBITDA was 31.3 million Euros (+ 49.1%), and EBIT 27.7 million Euros (+ 47.3%). Earnings before taxes reached 28.0 million Euros (+ 48.8% compared to 2005).

The Net Financial Position at 31 December 2006 was confirmed to be positive amounting to 6.7 million euros compared to the 2.2 million euros at 31 December 2005 (8.5 million euros at 30 September 2006).

The trend of the Group in Germany was also positive: in 2006 syskoplan recorded consolidated revenues of 45.2 million euros (+12%), EBIT of 4.2 million euros (+17%) and a positive Net Financial Position of 19.7 million euros.

"The Fiscal Year 2006 – declared Mario Rizzante, Reply’s Chairman, at the end of the Board of Directors – has been very positive for our Group, with results exceeding expectations".

"Thanks to the solidity reached in Italy – concludes Mario Rizzante – and the start of the expansion of our network in Germany, as showed by the recent acquisitions and start-ups completed by syskoplan in the financial services and media industries, in 2007 Reply will continue to focus on a further strengthening of its own range of offerings and on the search for new opportunities of growth".