Tiscali awarded as the fastest growing technology business in Europe

London, 8th December 2003 - Tiscali Group has been awarded yesterday from Deloitte European Technology as the fastest growing technology business in Europe. The full list of Europe’s 500 fastest-growing technology companies has been announced during the 2003 Deloitte European Technology Fast 500 award ceremony for chief executives in the Natural History Museum, London.

Tiscali says: "This is very good news for Tiscali and we are proud to be named as the fastest growing technology business in Europe particularly as we have achieved this during difficult market conditions for Technology companies.

Being the fastest-growing is important, but more important to Tiscali is that over five and a half years we have built a strong business that became ebitda profitable at the end of 2002 and has continued to improve that position quarter on quarter this year, with a target ebitda margin of 8% by the end of 2003.

Tiscali has not only grown in revenue - in five years we have taken the business from a company operating in Sardinia to 16 countries, across Europe and South Africa, with 7.6 million customers and a target of 800,000 broadband customer by the end of 2003.

We have invested significantly in all of these markets to build our own pan European telecommunications network that allows us to develop innovative and compelling products that challenge incumbent operators and shake up the perceived view of the markets we operate in - and this is great news for the customer.

Tiscali has been true to the original and simple vision of our founder Renato Soru - 'To build a solid business and become profitable. And to become Europe's leading internet company, an independent and innovative organisation making the internet affordable for all.'"