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2e2's results for the year ended 31 December 2008
2e2, a leading provider of mission critical IT Services and Solutions, is today delighted to report

Newbury, UK 01 June 2009 - 2e2, a leading provider of mission critical IT Services and Solutions, is today delighted to report its financial results for the year ended 31 December 2008.

Fianancial Highlights
- EBITDA* increased 34% to 24.6m from 18.4m
- Operating profits* increased 31% from 8.7m to 11.4m
- Operating cash flow was 91% of EBITDA at 21.2m

Operational Highlights
- Acquisition of Netstore plc
- New data centre opened
- Disposal of Hamilton Rentals Limited

Terry Burt, 2e2s Chief Executive commented: 2008 was another strong year for 2e2 and I am very pleased
with the progress made. The economies in which we operate entered recession during the year, but we have
been able to maintain our track record of growth. We completed the acquisition of Netstore and the sale of
Hamilton Rentals, both of which were strategic goals set at the beginning of the year. Our progress continues to be recognised with additional accreditations from our partners and awards from industry bodies.
We remain dependent on the skills and dedication of our staff in order to achieve such recognition and I thank everyone for their hard work and support.

Eric Priestley, 2e2s non-executive Chairman commented: Trading has been satisfactory in most parts of our business and we are increasingly seeing customers take advantage of a broader range of our services. Our organic growth has remained strong and this was enhanced by the acquisition of Netstore in
October. The transaction was completed during a very difficult time in the financial markets, and this is
testament to the confidence shown in the group by its financial partners. The Group refinanced its bank
borrowings as part of the transaction. We are pleased to welcome RBC Capital Markets and Barclays Bank to
the syndicate of banks. Together with the existing syndicate members, our equity partner Duke Street, staff and management we were able to put together a funding package to secure the acquisition and the future working capital requirements of the company.
In July, the management team of Hamilton Rentals, the group's IT rentals specialist, completed a buyout
of that business. We retain a close relationship with the new company and wish the team every success
in the future.
We have restructured the business to integrate Netstore into our service offerings and ensure that we
can go to market with very clear propositions based around our technical capabilities and vertical
sector knowledge. This has been well received by our customer base and has helped us make a strong start
to the new year.

For further information please visit our website at or email us at

Eric Priestley
2e2 Holdings Limited

Publisher Contact Information:

2e2 UK Limited
01635 568000

Company profile of 2e2 UK Limited
Past press releases of 2e2 UK Limited.


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