Montabaur, August 8, 2007. The Management Board of today announced its consolidated results according to IFRS for the first half-year 2007. The figures confirm further growth in sales and earnings.

Despite the fact that the second quarter failed to match the company’s own expectations, succeeded in posting year-on-year sales growth of 20.8 % from EUR 86.4 million to EUR 104.4 million in the first half of 2007. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 165.2 %, from EUR 11.2 million to EUR 29.7 million. Earnings before taxes (EBT) improved by 89.2 %, from EUR 9.3 million to EUR 17.6 million.

These earnings figures include non-recurring income of EUR 16.8 million resulting from the contribution of our shares in AdLINK Switzerland and AdLINK Austria to Goldbach Media AG and an impairment charge of EUR 9.4 million following the restructuring of our French and UK markets. The net positive effect influences EBITDA by EUR 16.8 million and EBT by EUR 7.4 million.

Earnings per share (EPS) improved by 233.3 % from EUR 0.15 to EUR 0.50.

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