13 February 2008

The Board of Directors of Reply S.p.A., a company listed on the STAR segment of Borsa Italiana [REY.MI], has discussed and approved today the Group’s results as at December 31st, 2007. All economic and financial indicators show an upward trend.

In the last quarter of 2007 the consolidated revenues achieved by Reply amounted to 75.7 million Euros (+18.0%, compared to the same period of 2006). Profitability also increased, with 13.5 million Euro EBITDA (+40.0%) and 12.0 million Euro EBIT (+39.8%).

The income before taxes in the last quarter of the year achieved 12.0 million Euros, +42.6% compared to the same period in 2006.

Overall, in 2007 the consolidated revenues achieved 277.2 million Euros, with a 20.4% increase compared to fiscal year 2006. EBITDA amounted to 42.3 million Euros (+34.4%), with an EBIT of 38.0 million Euros (+36.5%). The income before taxes reached 37.8 million Euros (+35.9% compared to 2006).

The Net Financial Position of 10.9 million Euros as at December 31st, 2007 confirmed its positive trend compared to the 13.9 million Euros as at September 30th, 2007 (6.7 million Euros as at December 31st, 2006).

As far as Germany is concerned the Reply Group reported very positive results: syskoplan closed 2007 with consolidated revenues worth 57.5 million Euros (+27.1%), achieving a 5.9 million Euros (+41.8%) EBIT and a Net Financial Position worth 16.9 million Euros.

“Making an initial assessment of our performance during 2007 - declared Mario Rizzante, Reply President – we can be very satisfied with our results compared with those of the market, both in terms of the growth in revenues and marginality”.

“In 2007 – continued Reply President - we strengthened our presence in Italy and Germany, developing new competencies linked to the Web 2.0 paradigms, compliance and security; we further consolidated our brand increasing our presence within the leading European groups with offerings focused on the new technologies and innovation of processes and services”.

“The results reported in 2007 and the good performance Reply is currently showing in 2008 - concluded Mario Rizzante - allow us to look with optimism and confidence at the future of our Group as it is increasingly acquiring a premier position based on service excellence”.