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2e2's Interim Results for the six months ended 30 June 2006
2e2 report another strong period of growth

Chairmanís Statement

I am delighted to present 2e2ís 2006 interim statement, which once again shows exceptionally strong performance from one of the leading IT Services organisation in the UK and the Netherlands.

We are very pleased with our progress in 2006, which has seen continued strong organic growth at over 21%. There has been continuing growth in managed services contracts which, coupled with the launch of our state-of-the-art managed services centre, we expect to account for an increasing volume of revenues.

In January, we acquired Kingswell Data Management Limited, which has since been integrated into our data management operations.

We have also seen the gradual integration of our businesses under the relaunched 2e2 brand into a combined and powerful single entity. This has involved the launch of a new seamless end-to-end portfolio covering all aspects of our services and solutions, enabling improved communications with our customers. I am pleased to report that this has been warmly accepted, with many benefits already realised.

The market remains strong in our focus areas of Unified Communications, Data Management and Server & Client, and we remain confident about our performance through the remainder of this year and beyond.

Following this reporting period, the business completed a secondary funding with Duke Street Capital, who replace Gresham LLP as our backers going forward. I would like to thank Gresham for their support and welcome Duke Street on board. It is also an honour to have taken over recently as Chairman from my predecessor Richard Connell. I would like to thank Richard for his efforts over the past few years, during which time the business has enjoyed continued success.

I am looking forward to the coming years, where we will drive further excellence and the establishment of a genuinely alternative service provider.

Eric Priestley
Non-executive Chairman

Chief Executives Statement

I am delighted to present our results for the six months ended 30 June 2006.

This has been another period of strong organic growth for the Group: 21% on a like-for-like basis, and trading strong across the Group.

Revenues increased to £74m (H1 2005: £46m) and operating profits to £5m (H1 2005: £4m). We made one acquisition in 2006: Kingswell Data Management Limited. Kingswell operated in the same market as our existing data management business and has since been completely integrated into 2e2.

We have made excellent progress in the first six months of the year, during which time all of our operations have enjoyed strong trading. New order intake has been good and our backlog levels have increased, positioning us well for the remainder of the year.

The realignment of all the 2e2 companies under the single 2e2 brand has now clearly defined us as a business that delivers all the benefits of a cohesive and financially strong organisation offering a wide range of fully integrated IT solutions. We believe this change in messaging is a natural step and one which will make the experience of doing business with 2e2 so much better. This is part of our ongoing aim of creating one of the leading IT services and solutions providers in the UK and the Netherlands.

Our vision is to be a company whose integrity, performance, quality and care for its customers and employees is second to none. This remains at the forefront of everything we do as we continue to grow the organisation and create ever greater business advantage for our customers.

I am also delighted to report that, in September 2006, following the end of the half year; we completed a secondary funding of the Group with Duke Street Capital. Their experience and resources will be of immense assistance as we re-engage on our acquisition programme. Iím equally pleased to welcome Bank of Scotland as our new lead banker in the banking group. This provides us with the funding and financial security to c

Publisher Contact Information:

2e2 Group plc
+44 (0)1635 268000

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


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