• Group revenues were EUR 5,459 million, representing organic growth of 8% • Operating margin increased organically by 14% (7.6% margin) • Net debt fell to EUR 180 million at 31/12/05 (EUR 492 million at 31/12/04) Extract from the Chief Executive’s review of 2005: 2005 was a year of consolidation for Atos Origin after the acquisition and integration of Sema Group in 2004. We said at the start of the year that we would focus on organic growth and that is precisely what we did, increasing global market share and achieving all of our financial targets. The main commercial highlights of the year were the expansion of our business in Germany, the signing of contract extension agreements with Philips and the International Olympic Committee, the capture of a ground-breaking contract with Renault, the renewal of our major BPO contract with the UK Department of Works and Pensions and the extension of our partnership with Euronext. There have been many other successes that stem directly from the acquisition of Sema and the restructuring of our commercial operations during 2004 and thirteen of our key clients now generate annual revenues of more than EUR 100 million. The development of our German business is particularly satisfying. Capturing a major contract with KarstadtQuelle in late 2004 provided the catalyst and we subsequently won contracts with E-Plus and Premiere that enabled us nearly to double revenues in Germany and Central Europe to EUR 562 million in 2005. The Symrise contract in early 2006 extends that successful trend. We began 2005 targeting organic revenue growth of 5% and increased that figure to 8% in July 2005 after extending our commercial relationship with Euronext, where we have taken over the IT operations of Euronext.Liffe. In November 2005, we advised the market of a risk that we might fall slightly short of that growth target, but in fact trading in the final months of the year was strong and we have reported total revenues of EUR 5,459 million, giving organic growth of exactly 8% for the full year. In terms of profitability, we saw further benefits from restructuring the business and although some of those were offset by investments in our global organisation and start-up costs on several new contracts, we managed to increase operating profit to 7.6%. The fact that profitability was towards the lower end of our guidance range was due mainly to the one-time effect of lower than expected profitability in a number of non-core businesses, most of which have now been divested. When we acquired Sema, we announced that we intended to sell businesses with annualised revenues of approximately EUR 500 million, most of which were in geographically or commercially non-core areas. By June 2005, we had disposed of businesses with annual revenues of EUR 410 million, including the US Cellnet business and our Nordic operations. The disposal of our Middle East operations in February 2006 effectively completed that programme. However, we will continue to monitor the future of small sub-scale businesses that are not sufficiently profitable. In cash terms we reduced net debt below the target level of EUR 200 million, reaching EUR 180 million at 31 December 2005. This means that over the course of the two years since acquiring Sema Group in January 2004, the cash proceeds from disposals have been reinvested in developing the Group’s commercial activities, including new outsourcing contracts, in core countries. At the same time, the cash cost of the Sema acquisition and the subsequent cash cost of integrating and restructuring the enlarged business, has been fully funded by the direct operational cash flow from the Group. At the end of 2005, net debt was well below the EUR 266 million level that existed at 31 December 2003, immediately before the Sema Group acquisition. In 2006, in addition to our continuing commitment to expand market share in Europe, we intend to accelerate the development of business and resources in China and India. We also intend to focus more specifically on developing several commercial activities, including our payments business Atos Worldline, Atos Euronext Market Solutions (AEMS) and our BPO Healthcare practice, all three of which are within Managed Operations. Atos Worldline and AEMS each have annualised revenues of around EUR 350 million going forward, above group average profitability and significant growth prospects. marie-tatiana.collombert@atosorigin.com www.atosorigin.com