Tiscali’s Board of Directors approves the draft of 2005 consolidated results

Cagliari, 30th March 2006 - Tiscali’s Board of Directors has approved today draft consolidated results for the year ending 31st December 2005.

• Revenue growth: EUR 736.2 million, +12% YoY: acceleration of growth in UK, the Netherlands and Italy
• ULL ADSL subscribers growth: 4.7 million active users, over 1.7 million ADSL users, +682,000 new customers in FY05. Over 360,000 unbundled lines (ULL)
• Profitability improvement: FY Gross Operating Result (EBITDA) at EUR 117.1 million (16% on revenues), +51% YoY
• Net Result strong improvement: Net loss at EUR 12.8 million, compared to FY04 Net Loss of EUR 134.2 million

FY05 was one of the most meaningful years in the history of Tiscali Group with the execution of the Group’s strategic plan, aimed at focusing on the countries with the highest potential of value creation and at the implementation of the unbundling network infrastructure in the key countries. Thanks also to this strategy, during 2005 the Group reported a strong growth in terms of ADSL users, revenues and profitability.

Such growth trends continues in the first two months of 2006, with an increase of 150 thousands new ADSL customers (over 1.85 million total ADSL customers), up 30% versus the same period of 2005.

FY05 Group’s revenues stood at EUR 736.2 million, up 12% compared to FY04 result (EUR 655.1 million). This increase was mainly due to the strong growth of ADSL users (+66%) and to the significant evolution of access revenues (+14%), with ADSL revenues growing by 54%.

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Tiscali Group’s financial results and figures given for comparison purposes 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.