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S&T: First Quarter 2005 Results: The new business year gets off to a profitable start

The New Business Year Gets off to a Profitable Start as the S&T Group Records Higher Sales and Profits

in EUR million	Q1 2005	Q1 2004*	Change in %
Total Revenue	61.9	53.8	15%
EBIT	2.5	1.4	79%
EBITDA	3.7	2.2	68%
Gross Margin	32.6%	27.2%	19.85%

*Adjusted in accordance with IFRS 2 and IFRS 3

Increased Sales

Group sales rose 15% in Q1 2005 to EUR 61.9 million (Q1 2004: EUR 53.8 million) even though EUR 16 million generated by subsidiary T-Systems DSS which was only acquired in January was not included in this result (consolidation as of Q2 2005). The acquisitions ITS and Computacenter Austria have been included in the results since January 1, 2005.

Significant Improvement in Earnings

EBIT rose to EUR 2.5 million (2004: EUR 1.4 million) despite expenses incurred in connection with the integration of the recent acquisitions. This positive development was also supported by income from the initial consolidation of ITS and Computacenter Austria.

Increase in Gross Margin

Higher than average growth in the Services segment improved the gross margin from 27.2 in the same period of the previous year to 32.6%.

Outlook

S&T continued its growth strategy with acquisitions in Austria at the beginning of 2005. Integration of ITS, Computacenter Austria and T-Systems DSS is proceeding as planned and should be successfully completed by summer 2005. Management expects total sales of EUR 380 million for the reporting year 2005.

Conference Call

S&T management will be available for a conference call on April 26, 2005, at 16:00 CET. In order to participate, please call 0049 69 22222 0408, 01 7957 6047 for Austrian participants or 0044 20 7784 1017 for participants from the UK a few minutes before the start of the conference.

As an additional service, a recording of the conference call will be available from May 2, 2005, on the S&T homepage