ODESIA Group Inc.
TSX VENTURE : ODS

ODESIA Group Inc.

August 30, 2007 09:30 ET

Odesia Shows 100% Revenue Growth in the Second Quarter of 2007

Record sales in Europe

MONTREAL, QUEBEC--(Marketwire - Aug. 30, 2007) - ODESIA Group Inc. ("ODESIA") (TSX VENTURE:ODS) is pleased to announce it has doubled revenues to $3.8 million in the second quarter of 2007, up 100% over revenues of $1.7 million in the second quarter of 2006. Revenues originating from Europe reached $2.3 million, or 60% of the consolidated business.

"The second quarter of the year was very strongly supported by new contracts and we are very pleased with the overall performance," says Nicolas Bonnafous, ODESIA President and Chief Executive Officer. "We have maintained strong growth both in Canada and Europe, and are considering expansion into other territories in the near term. Odesia is an intellectual capital business and in that regard we have had positive changes during the quarter, promoting two key employees of Odesia Solutions: Denise Branco Goncalves to Vice-President Business Development and Yves Elements to Vice-President Operations."

Looking forward, Jean-Pierre Dube, Executive Vice President of Odesia Group will be relocating to Paris to support and shape growth out of the European office.

Also, Vice President and CFO Christian Dufour is leaving Odesia to pursue other opportunities: search for a replacement is in progress.

Highlights of financial results for the second quarter and first six months of 2007:

- Revenues up 100% in 2007 to $3,854,100 compared to $1,728,600 in 2006 for the three month period and $6,416,100 compared to $2,997,100 in the six month period.

- EBITDA was $204,300 compared to a loss of $158,900 for the three month period, and $126,800 compared to a loss of $220,000 for the six-month period.

- The Company had a loss of $5,700 for the second quarter of 2007 compared to a loss of $131,900 for the quarter ended June 31, 2006. The loss was $116,200 for the six-month period compared to a loss of $180,800 last year.

The complete financial statements may be seen 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 specializing 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 nearly 150 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 .



ODESIA GROUP INC.

Consolidated Earnings
(unaudited)
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All amounts expressed in thousands of $

For the three-month For the six-month
periods ended June 30, periods ended June 30,
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2007 2006 2007 2006
$ $ $ $

Sales 3,854 1,729 6,416 2,997
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Cost of services provided,
operating and
administrative expenses 3,650 1,888 6,289 3,217
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EBITDA 204 (159) 127 (220)
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Amortization of tangible
assets and client list 23 14 46 25
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Financial expenses 136 14 148 25
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Income taxes 51 (49) 59 (83)
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Non-controlling interest - (6) 10 (6)
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Net loss (6) (132) (116) (181)
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Net loss per share,
basic and diluted (0.000) (0.005) (0.004) (0.007)
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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 has neither approved nor disapproved of the information contained herein

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