Press release. Qurius trading update Q3-2007

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1 Qurius trading update Q (in EUR x 1,000) Q Q Ytd Q Q Ytd Net sales 27,291 78,499 8,603 30,781 EBIT -1,114 1, ,499 Net profit , October 2007 In the third quarter of 2007, Microsoft-specialist Qurius posted a net sales of EUR 27.3 million (third quarter 2006: EUR 8.6 million) and a negative EBIT of EUR 1.1 million (third quarter 2006: EUR +0.4 million). We expected a zero EBIT result due to the traditionally low services turnover in the holiday period of July and August. Moreover, in these months the licenses turnover is usually low. Qurius wide, the results of this quarter are weaker than foreseen, says Fred Hermans, Qurius` chief executive officer. In the fourth quarter, profitability will recover. Qurius is in the process of integrating the various operations with the former Watermark subsidiaries. Creating a new, smooth organisation takes more time than expected. In addition, in the project staffing, Qurius suffers from shortages in the labour market. Consequently more services than desirable are to be fulfilled by subcontractors, which lowered the margins. As for its mid-term objectives, Qurius aims at obtaining a leading position as supplier of business solutions based on Microsoft technology, in those European countries where the company is active. Over the past few months, Qurius has made some important steps forward by acquiring companies in Germany, Sweden and the UK, thus enlarging various smaller operations and strengthening its position in these countries. The positive effects of these acquisitions on the margins are expected to become visible in 2008, after integration. Taking all of the above into account, for the whole year 2007 Qurius expects net sales between EUR 108 and 115 million and an EBIT between EUR 3.5 and 4.5 million. The EBIT margin in relation to net sales will be between 3% and 4%. Furthermore, based on a review of the annual report of 2006, the AFM has recommended Qurius to improve its annual reporting on three aspects. Please find an explanation of these recommendations in appendix A. P a g 1 of 6 All figures in this press release are unaudited.

2 Profit & loss account (in EUR 1,000, except percentages) Q3 Ytd 2007 Q3 Ytd 2006 % change Net sales 78,499 30, % Cost of sales -23,740-8, % Gross margin 54,759 21, % (as % of net sales) 69,8% 71,1% Wages and salaries 30,605 11, % Pension and social security costs 6,111 1, % Other operating expenses 14,508 5, % Operating expenses -51,224-18, % EBITDA 3,535 3,660-3% (as % of net sales) 4.5% 11.9% Depreciation and amortisation 1, % EBIT (excluding the sales from Magnus Management Consultants) 1,738 2,863-39% Sales result from Magnus Management Consultants % EBIT 1,738 3,499-50% (as % of net sales) 2.2% 11.4% Financial income and expenses % Profit before taxation 948 3,400-72% Taxation ,009-71% Net profit 657 2,391-73% (as % of net sales) 0.8% 7.8% Note: In June 2006 Qurius divested its interest in Magnus Management Consultants and finalised the merger with Watermark in December Both events are relevant when comparing 2007 with 2006 figures. The acquisitions of Çedilla, Wilhelm+Zeller and Ibitec have been consolidated as per 1 July Net sales increased by EUR 47.7 million, or 155%, to EUR 78.5 million in the first nine months of 2007 compared to EUR 30.1 million in the first nine months of Growth of the gross margin is to a large extent the result of the merger with Watermark. The gross margin as a percentage of the net sales decreased from 71.1% in the first nine months of 2006, to 69.8% in the first nine months of This has been caused by the larger sale of licenses and maintenance, which on average have a lower gross margin as its percentage of net sales than Qurius services activities. P a g 2 of 6 All figures in this press release are unaudited.

3 Net sales segmentation The following table states net sales by business line for the periods indicated: (in EUR x 1,000, except percentages) Q3 Ytd 2007 Q3 Ytd 2006 % change Qurius Advanced Solutions 4,725 3,762 26% Qurius Business Solutions 66,054 18, % Qurius Infrastructure Solutions 5,767 5,424 6% Qurius Managed Services 1,953 0 n.a. Magnus Management Consultants 0 3, % 78,499 30, % The following table states net sales by category for the periods indicated: (in EUR 1,000, except percentages) Q3 Ytd 2007 Q3 Ytd 2006 % change Software licenses 13,505 4, % Maintenance 14,929 2, % Services 45,114 16, % Hardware 4,951 4,156 19% Magnus 0 3, % 78,499 30, % The following table states the net sales split between the Netherlands and the other countries for the periods indicated: (in EUR x 1,000, except percentages) Q3 Ytd 2007 Q3 Ytd 2006 % change Netherlands 43,937 28,846 52% International activities 34,562 1,935 1,686% 78,499 30, % The growth in international activities has been caused by the merger with Watermark in December Status of the various acquisition integrations The rebranding of the Watermark offices into Qurius is finalized in Denmark, the Netherlands and the UK. In Belgium, Germany, Italy, Spain and Sweden this will be completed by end of this year. In the countries where both a Watermark and a Qurius location existed (the Netherlands and Belgium), Qurius now operates as one organisation. For Sweden (acquisition Ibitec) and the UK (acquisition Çedilla) the blueprint for the organisation after the acquisition is ready and the companies will operate as one entity. In Germany (acquisition Wilhelm+Zeller), the final organisational structure largely depends on the finalization of the Cabus acquisition (as announced on 2 July 2007), considering the size of the Cabus company. P a g 3 of 6 All figures in this press release are unaudited.

4 Figures of Wilhelm+Zeller, Çedilla and Ibitec have been consolidated in the Qurius results as per 1 July In Q3, these new companies have added a turnover of EUR 4.3 million and an EBIT of EUR 0.2 million. Employees On 30 September 2007, Qurius had 886 employees (30 June 2006: 263). The acquisitions of Çedilla, Wilhelm+Zeller and Ibitec have added around 175 employees. Number of employees 30 September 2007 Netherlands 387 International activities Qurius provides architecture, realization and systems management of Microsoft technology based business and IT solutions, including infrastructures. Qurius has approximately 900 staff members; its headquarters are located in Zaltbommel, the Netherlands. Its offices in Belgium, Denmark, Germany, Italy, the Netherlands, Norway, Spain, Sweden and the United Kingdom serve over 2300 clients. Qurius has been publicly listed on Euronext Amsterdam since Currently Qurius has listed A shares. Qurius has been recognised by Micorosoft as the 2007 global Microsoft Dynamics Partner of the Year. Contact Qurius, Suzanne Schaapman: tel +31 (0) or s.schaapman@qurius.com P a g 4 of 6 All figures in this press release are unaudited.

5 Appendix A Recommendations AFM In 2007, the implementation of several IFRS principles has been reviewed, after recommendations of the AFM within its frame of activities under the Act on Financial Supervision (Wtfv). These new insights will result into several changes in the accounting principles for the annual report 2007 and the future financial reporting regarding the annual report Below we will explain the application of the regulations for future reporting on which we publish on the basis of article 3, part 2 sub b Wftv and which will be applied for future financial reporting. This explanation relates to the way the business combination with Watermark has been processed in the annual report for The regulations of IFRS 3.36, 3.37, IFRS 3.45 and IAS monitor the application of purchase accounting by including the identifiable assets that meet the admission requirements of IFRS 3.37 at fair value. These will be additionally applied in the annual report 2007 regarding the valuation of the identifiable assets of Watermark, also considering the fact that this is common practice. In the 2007 annual report, the identifiable assets will be split from goodwill and will be amortised. The valuation of the identifiable assets as part of the purchase price of Watermark is currently being investigated, which means that at this moment no information can be given on this valuation. The impact for the result of 2007 cannot be given either yet. The regulations of IFRS 3.36, 3.37 and 3.45 will also be applied in the annual report of 2007 for the addition and presentation of Watermark s non-core business, which has currently been included under Other investments of the financial fixed assets. This implies that this amount will be included and presented under intangible fixed assets instead of financial fixed assets. This application does neither influence the amount of equity nor the results as per 31 December In the annual report 2007 the application of IFRS 3.24 will be complementary adopted for the valuation of the purchase price of the business combination with Watermark regarding an option included in the share loan to Watermark s former shareholders. The valuation of this option is and will be included in the 2007 annual report to goodwill and equity. 3. The explanatory notes to business combinations as meant in the IFRS 3.67d, 3.67f and 3.67h will be added to future financial reporting. The explanatory notes to the cash flow statement as meant in IAS 7.40c en 7.40d will be added to future financial reporting. In accordance with IAS 7.43 the investment and financial transactions that have not resulted into cash flows, should not be included in the cash flow statement. IAS 7.43 will be applied to the cash flow statements in future financial reporting. P a g 5 of 6 All figures in this press release are unaudited.

6 The explanatory notes on the realisation of non-core business and deferred taxes as meant in IAS and 12.81g will be applied in future financial reporting. The explanatory notes on share loans as meant in IAS 32.60, and 32.63f will be applied in future financial reporting. The applications mentioned under 3. do neither influence the amount of equity nor the results as per 31 December P a g 6 of 6 All figures in this press release are unaudited.