The CAD IT Board of Directors approves the Six-Monthly Results at 30th June 2011

The Board of Directors of CAD IT S.p.A., leader in the Italian financial software market, met today to approve the Half-Yearly Financial Report at 30^th June 2011.

The main Consolidated Profit and Loss Account results relating to the first half of 2011 are as follows:

• Production Value of Euro 26.2 million (Euro 26 million in the first six months of 2010). During the six months in question the internal work capitalized for the development of new products (internal work capitalized under fixed assets) came to Euro 1.9 million compared to Euro 2.1 million in the same period last year.
• Gross Operational Result (EBITDA) of Euro 2.4 million (9.1% of Production Value), compared to Euro 2 million in the first six months of 2010, corresponding to 7.8% of Production Value.
• Operational Result (EBIT) of Euro 0.6 million (2.4% of Production Value) compared to Euro 0.1 million in the first six months of 2010, corresponding to 0.3% of Production Value.
• Result of the period net of pre-third party share stood at Euro 42.449 (0.2% of Production Value) after the calculation of taxes for Euro 0.8 million, compared to Euro -0.3 million (1% of Production Value) in the same period last year.

Although the macro-economic context is not so favorable, the CAD IT Group is still making considerable investments into research and development with the aim of widening its own product portfolio and to further extend its offer on an international level and towards neighboring market segments such as investment banks, insurance companies, fund administration and brokers. The recent contracts signed with one of the most important Italian merchant bank and with one of the leading German retail banks, together with the agreement with Xchanging to expand the financial tool management platform onto the European market, are fundamental steps towards achieving these strategic objectives.

The short-term Net Consolidated Financial Position at 30^th June 2011 is in credit by Euro 4.5 million compared to Euro 4.2 million at 31^st December 2010.

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The Half-Yearly Financial Report as of June 30^th 2011, with the certification in compliance with art. 154 bis, paragraph 5, of Legislative Decree 58/98 (Consolidated Finance Act) and the report by the auditing firm will be made available to the public at the Company’s registered office and at Borsa Italiana S.p.A. and will be published on the www.cadit.it website by August 29^th 2011. Written notification of such publication will be given.

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The manager responsible for preparing the company’s financial reports, Maria Rosa Mazzi, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.