March 25, 2008 14:01 ET

Buongiorno S.p.A Preliminary Results for the Year Ending 31st December 2007

MILAN, ITALY--(Marketwire - March 25, 2008) - Buongiorno (MTA STAR, Borsa Italiana: BNG), the world leader in mobile entertainment, has approved the preliminary results for FY07, prepared in accordance with IAS/IFRS. Financial data for FY07 refers to Buongiorno stand alone and does not consolidate iTouch figures.

Financial Highlights FY07

- Year on year net profit increase of 13% to USD 21.5 million.

- Performa revenues (including iTouch) of USD 497 million, and EBITDA of USD 62 million; exceeding FY07 Guidance.

- The revenue figures of Buongiorno standalone for FY07 amounted to USD 272.6 million and EBITDA of USD 33.6 million; both are at the upper end of the estimates presented in the strategic plan (USD 268-277 million and EBITDA at USD 31-34 million).

- Net financial position is USD -104 million, better than guidance.

- Guidance for FY08 confirmed, with revenues forecasted between USD 514 million and USD 548 million, EBITDA at between USD 64 million and USD 70 million.

- The company has also set the objective of achieving savings totaling USD 16 million by mid-2009 as a result of the iTouch acquisition.

- Buongiorno will invest USD 16 million in FY08 to capture the mobile social networking trend.

Business Progress: Mobile Social Networking Application 'BING'

Since its successful market testing, launched in June 2007 in South Africa and Austria, Buongiorno has rolled out BING, its mobile social networking solution, to a larger global market in 2008, including the 9 new geographies of the UK, Brunei, India, Indonesia, Italy, the Netherlands, Spain, Switzerland and Vietnam.

The extensive reach into 11 countries has been achieved by Buongiorno's impressive connection to the mobile population in 53 countries. To date BING scores over 20 million messages exchanged per week, (quadruple late 2007 figures) and over 1.2 million logins.

Buongiorno will be investing USD 16 million in designing a new product- an upgrade of BING that will allow the company to further capture the mobile social networking trend. Social networking is expected to attract advertising amounting to over USD 2.1 billion by 2008, representing a staggering increase of 75% since 2007, in a market where consolidation is already taking place.

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