ODESIA Group Inc.
TSX VENTURE : ODS

ODESIA Group Inc.

April 29, 2008 19:16 ET

ODESIA Continues its International Expansion Revenues of $13 Million, an Increase of 68%

MONTREAL, QUEBEC--(Marketwire - April 29, 2008) - The ODESIA Group Inc. ("ODESIA") (TSX VENTURE:ODS) announced today that its revenues for the year ended December 31, 2007 increased by 68%, representing sales of $13,452,482 in 2007 compared to $7,999,764 in 2006.

"The year 2007 was marked by strong growth in our international activities (France, Switzerland, Mexico) and a sustained organizational growth. With this approach, we quickly increased our staff and our diverse service offerings in Business Intelligence consulting. We operate from our offices in France, Canada and since November 2007, in four major cities in Mexico, "said Nicolas Bonnafous, President and CEO of ODESIA.

Financial Highlights of 2007

- The Company recorded a growth in revenues of nearly $5,500,000 or 68% compared to 2006 due to increased international sales;

- On 30 November 2007, the Company acquired Resource IT in Mexico. This acquisition had little impact in 2007 because there was only one month of activities consolidated, the period after the date of acquisition. Management believes that this acquisition will contribute approximately $4,000,000 annual sales in 2008;

- On October 1st 2007, the Company acquired customer contracts of a value of over $1,500,000. Management believes that these contracts will generate approximately $2,700,000 annual sales;

- The Company has incurred significant non-recurring costs that explain the net loss of $613,176. These costs include a $235,000 loss on contract, $230,000 contract implementation costs, and $255,000 employment severance payments. Management believes that these non-recurring costs are not likely to occur in 2008. Also, the Company incurred a $135,000 loss on foreign exchange.



Selected financial information

December 31 December 31
2007 2006
12 months 12 months
Audited Audited

Revenues $13,452,482 $7,999,764
Net Earnings (Net loss) ($613,176) $80,763
Diluted Earnings / (Loss) per common share ($0,024) $0.003
Total consolidated assets $9,700,658 $4,773,809
Short term consolidated liabilities $6,416,517 $2,196,883
Long term consolidated liabilities $511,218 $29,905


About ODESIA Group

ODESIA Group is a Canadian-based international corporation specialized in BI solutions, decision processes, and data warehousing for large corporations. The Company's mission is to provide customers a complete solution, no matter the technical challenge.

The management team at ODESIA has extensive knowledge and experience in leading the execution of BI processes in large enterprises. Moreover, our team, composed of nearly 200 experienced 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 consolidated financial reports and management reports are now available on SEDAR (www.sedar.com) and in the investors' section of our website. For more information, see www.odesia.com

Shareholders' Annual Meeting

The Shareholder's Annual Meeting will be held at 10h00 am on June 19th, 2008 at the St-Sulpice Hotel in Montreal. The meeting will be presided by Jacques Topping, President of the Board of Director. Nicolas Bonnafous, President and CEO will also address the audience. Furthermore, all the management team will be available to answer questions.

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. The TSX has neither approved nor disapproved of the information contained herein.

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.

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