Tiscali’s Board of Directors approves first-half 2005 results

Cagliari, 23rd September 2005 - The Board of Directors of Tiscali  approved yesterday the Group’s first-half results to 30th June 2005:

• Revenues up 11% on 1H04, to EUR 353.7 million
• 330,000 new ADSL subscribers, bringing the total to 1.4 million
• Sharp increase in profitability: Gross Operating Profit (EBITDA)* at EUR 52.4 million (15% on revenues), more than doubled compared to 1H04 (EUR 20 million, 6% on revenues)
• Earnings before tax (EBT)* positive for EUR 59.6 million vs a loss of EUR 123.3 million in 1H04

* Tiscali Group’s financial results and historical figures given for comparison purposes in this press release were prepared in accordance with IAS/IFRS international accounting principles, and are shown on a like-for-like basis for the Group’s perimeter, including Italy, UK, Germany, The Netherlands, Czech Republic and TiNet IP . For further details on the application of IAS/IFRS principles, please refer to the half-year report available at the company's registered office and on its website http://investors.tiscali.com/tiscali/

Tiscali announces the following targets for 2005 (IFRS compliant):

• Revenues of approx. EUR 800 million
• Gross Operating Profit (EBITDA) of approx EUR 100 million
• Around 1.8 million broadband users
• Investment at 15% of revenues

To read more, click on Press Release (.pdf)