The board of directors of Tiscali approves draft consolidated accounts for 2003

Cagliari, 5th April 2004 - Tiscali’s board of directors has approved the draft results for the year ending 31 December 2003.

Net revenues at EUR 901 million in 2003, up 20% on 2002

- EBITDA positive for the fifth consecutive quarter, at EUR 74.7 million (8.2% of revenues), a sharp improvement on the EUR 1 million posted at end-2002

- 840,000 ADSL users as of 31/12/2003, an increase of more than 600,000 in 2003

- Sharp rise in the number of new broadband customers in Q1 2004: +400,000 new users bring total ADSL customers to 1,240,000 ADSL 31 March 2004

In 2003 Tiscali adjusted its strategic proposition. With 7 million dial-up users all over Europe, the company has now also established itself as a provider of broadband services thanks to an improvement in the regulatory situation for this market in Europe, and to an effective commercial policy.

Read more in Tiscali's Analyst presentation (.pdf 174 KB).