ODESIA Group Inc.
TSX VENTURE : ODS

ODESIA Group Inc.

November 27, 2007 09:23 ET

ODESIA Shows 48% Revenue Growth in the Third Quarter of 2007

Comprehensive solutions and multi-point services are now offered from offices in Canada, Europe and Mexico

MONTREAL, QUEBEC--(Marketwire - Nov. 27, 2007) - Odesia Group Inc. ("ODESIA") (TSX VENTURE:ODS) is pleased to announce revenue of $3.4 million in the third quarter of 2007, up 48% from $2.3 million in the same quarter of 2006, showing sustained growth throughout the year.

The Company surpassed its total 2006 revenue in the first nine months of 2007 thanks to the signing of contracts, the signing of new large account referrals and strategic partnerships.

"Our efforts will give the Group a strategic positioning whose positive effects will be felt in the short term by our clients and partners and will provide our shareholders with tangible results over the next few months," stated Nicolas Bonnafous, president and CEO of ODESIA.

Highlights of the financial results for the third quarter and the first nine months of 2007:

- Third-quarter revenue up 48% to $3,415,185 in the third quarter, compared to $2,309,745 in 2006, and nine-month revenue of $9,831,298 in 2007, compared to $5,306,846 a year earlier.

- Third-quarter EBITA showed a loss of $221,749 in 2007, compared to a profit of $410,804 in 2006, and a nine-month loss of $94,922 in 2007, compared to a profit of $190,719 a year earlier. The loss during the third quarter is attributable to various factors, notably: a seasonality effect due to the summer season, a change in the sales mix, a lower placement rate, a strong Canadian dollar relative to the euro and the US dollar, and non-recurring charges of $232,420 related to employment severance payments.

- The Company experienced a loss of $195,347 in the third quarter of 2007, compared to a third-quarter profit of $236,736 in 2006. The loss was $311,555 for the nine-month period in 2007, compared to a profit of $55,886 in the previous year.

On October 31, ODESIA signed a transaction agreement to acquire client contracts in Europe valued at 1,122,000 euros. The acquisition cost will be paid in cash, up to an amount of 747,000 euros and the balance will be paid over a period of 15 months.

On November 15, 2007, ODESIA received the approval from securities regulatory authorities for the re-pricing of 4,010,664 warrants from $0.60 to $0.50 and to extend the expiry date from December 23, 2007 to January 31, 2008.

The full version of the financial statements is available on SEDAR at www.sedar.com or on the Company's website at www.odesia.com.

About ODESIA Group

ODESIA Group is a Canadian-based international corporation specialized in BI solutions, decision processes, and data warehousing for large corporations. The management team at ODESIA has extensive knowledge and experience in leading the execution of BI processes in large enterprises. The team of some 220 professionals offers a high level of service and specialization. The partnerships that ODESIA has formed with diverse BI service providers constitute a further important feature of its offering. The Company's goal is to provide customers a complete solution, no matter the technical challenge. For more information, see www.odesia.com

This release may contain forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the information contained herein.

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