Buongiorno Preliminary Results for H1 2009

MILAN -

- EBITDA of Euro 18.6 Million, up 14% Compared to H1 2008, Thanks to the Growth of the Most Profitable Business Segments and the Decrease of Fixed Costs.

- EBITDA of Q2 2009: Euro 10.2 Million up 25% Compared to Q2 2008.

- Revenues of Euro 132.3 Million vs Euro 158.2 Million in H1 2008 (-16%) Due to a Change in the Accounting Standards of an Australian Contract and the Rationalization of the Product Portfolio.

- Net Financial Debt of Euro 62 Million, Decreased by Euro 11 Million Compared to June 30, 2008 and by Euro 5 Million Compared to December 31, 2008.

The Board of Directors of Buongiorno S.p.A. (MTA, Borsa Italiana: BNG), a leading multinational in digital entertainment, today approved its preliminary results for the first half of 2009.

The preliminary results for the first half of 2009 post the EBITDA of H1 2009 amounting to Euro 18.6 million, up 14% (vs Euro 16.3 million of H1 2008), in line with H1 2008 marketing expenses. The EBITDA of the single second quarter of the year amounted to Euro 10.2 million vs Euro 8.1 million in Q2 2008 (up 25%).

Revenues are confirmed of Euro 132.3 million vs. Euro 158.2 million of the first half 2008. The decrease of 16% is due to the new terms of renewal of a relevant contract in Australia for online sales of phone air time, which new accounting principles are net commissions only (and no more the gross amount), and to the rationalization of the product portfolio, with the termination of those with negative or poor contributions. Q2 2009 revenues have amounted to Euro 65.3 million, down 17% vs Q2 2008 (Euro 79.1 million).

As of June 30th, 2009 the Net Financial Debt is of Euro 62 million (vs. Euro 73 million compared to June 30th, 2008) with a significant reduction of Euro 11 million (-15%). At December 31st 2008 the Net Financial Debt was of Euro 66.7 million.

The Board of Directors expressed its satisfaction for the Company’s results which reached a double digit growth in the EBITDA and for its performance in cash flow generation in the first half of the year, which has been characterized by an objectively difficult macroeconomic scenario.

For further information, contact: IR: Eleonora Villanova Global PR & IR Executive Tel. +39-02-582-131 Email: eleonora.villanova@buongiorno.com

Source: Buongiorno S.p.A

For further information, contact: IR: Eleonora Villanova, Global PR & IR Executive, Tel. +39-02-582-131, Email: eleonora.villanova at buongiorno.com