Presentation of Sygnity Group’s consolidated results for Q1 2009

Warsaw, 15 May 2009

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Note

This presentation was prepared for information purposes only. It does not constitute

an advertisement or an offering of publicly traded securities. It uses sources of

information that Sygnity SA considers to be reliable and accurate, but there is no

guarantee that they are exhaustive and fully reflect the factual status. The

presentation may contain forward-looking statements that constitute an investment

risk or a source of uncertainty and may significantly differ from the actual results.

Sygnity SA is not liable for the results of decisions made on the basis of this

presentation. Liability rests exclusively with the entity making use of the presentation.

The presentation is protected under the Act on Copyrights and Related Rights. Its

reproduction, publication or dissemination require the written consent of Sygnity SA.

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Summary of results for Q1 2009

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Results for Q1 2009 vs Q1 2008

[PLN '000] Q1 2009 Q1 2008

Revenues 140 376 208 782

Operating profit (loss) (16 125) (24 844)

Net profit (loss)(16 979) (26 295)

GM1* margin79 487 75 578

Factors affecting the results:

Effects of the economic slowdown

Clients postponing certain projects into following months of 2009

Decrease of orders for infrastructure deliveries (according to IDC, 28% drop market-wide)

Higher profitability – increase of the GM1 margin by 4 million zlotys despite a significant decrease in revenues

* GM1 margin - Revenues less external costs of goods and services

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Revenues structure in Q1 2009 vs Q1 2008

122,362

18,014

147,314

61,468

0

50,000

100,000

150,000

200,000

250,000

Q1 2009 Q1 2008

Goods and materials

Products and services

Revenues[PLN '000]

87%

29%

71%

13%

Increase in the share of own services

and products in revenues – 87% in Q1

2009 against 71% in the same period of

2008 Fall of the share of goods and materials in

revenues from 29% in Q1 2008 to 13% in

Q1 2009

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Revenues in Q1 2009 vs Q1 2008 by sectors

Sector

[PLN '000]Q1 2009 Q1 2008

Public 41 677 99 291

Banking and financial 43 265 54 706

Utilities 21 145 11 289

Telco-Industry 31 153 44 057

Others and exclusions 3 136 (562)

Total 140 376 208 782

Factors affecting the results:

Lower revenues from the public sector resulting from the savings programme introduced in the government administration

Decrease in orders from the banking sector caused by the financial situation of the sector

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Financing

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Debt situation

[PLN m] 30.9.07 31.12.07 31.3.08 31.12.08 31.3.09 on pub. date

Bonds -85 -61 -56 -63 -64 -71

Loans and credit facilities

-192 -109 -84 -34 -25 -23

Cashfunds on escrow accounts

24 51 4813

5830

36 29

Net debt* -253 -119 -92 -39 -53 -65

* without cash on escrow accounts for contracts

As at 31 March 2009 the Sygnity Group’s total debt from bank loans and credit facilities and issued bonds amounted to PLN 89m (PLN 94m at the date of publication) against the total debt from bank loans and credit facilities and issued bonds of PLN 140m on 31 March 2008.

The Group’s total net debt calculated as the balance of used bank loans and credit facilities and issued bonds minus the balance of cash amounted to PLN 53m at 31 March 2009 (PLN 65m at the date of publication), against PLN 92m on 31 March 2008.

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Outlook for bonds’ servicing in 2009

Sources offinancing

Operating surplus for 2008 and 2009, and disciplined management of working capital – up to PLN 25m

Income from asset disposals– PLN 15-20m

On-going rolling over of bonds– up to PLN 20m

New financing institutions– up to PLN 10m

Bonds’ maturity

May 2009 June 2009 October 2009 November 2009

PLN 2.4m PLN 5.8m PLN 6.5m PLN 2.1m

July 2009

PLN 53.5m

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2009 Outlook

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H2 2009 – banking and financial sector prospects

Sector challenges:• Delay in the adoption of the euro by Poland• Optimisation of processes and system modernisation using SOA• Increase of financial product profitability• New approach to electronic service distribution channels• Acquisition of new clients

Top prospects, products, services:• Credit factory• Advanced risk assessment methods• Commission systems• Outsourcing of IT services• Portal and bus systems for insurance companies• Merger of BPH and GE Money• Document management systems• Systems for the corporate sector clients• Foreign projects in banking institutions

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H2 2009 – public sector prospectscentral administration, uniformed services

Sector challenges:

• Concentration on projects implemented with EU funds (Ministry of Internal Affairs, Ministry of Finance, Central Statistical Office)

• Application development and maintenance projects for the Ministry of Foreign Affairs, the Police and the Ministry of Defence

Top tenders underway:

• Central Statistical Office – census test implementation

• Ministry of Finance – development and integration of systems

• Ministry of Internal Affairs – projects implemented as part of PL.ID, emergency number 112, emergency notification system, e-PUAP

• Central Geodetics and Cartography Office (GUGiK) – GIS systems

• Agricultural Social Security Office (KRUS) – systems implemented using World Bank funds

• Agricultural Development and Modernisation Agency – monitoring systems

New areas:

• Preparations for Euro 2012 – security platform

• Developing competencies in the area of of dedicated solutions for state administration offices

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H2 2009 – public sector prospects local government, labour market, social services and health

Sector challenges:

• Concentration on national projects financed with European funds (Ministry of Labour, Ministry of Health, Ministry of the Economy)

• Regional and local government projects financed with European funds

• Service product development (Ministry of Labour, State Fund for the Rehabilitation of Handicapped Persons, local government bodies)

Top prospects:

• Projects financed with EU funds (services related to training and the implementation of the Syriusz Std system, building a standards database)

• Contracs for dedicated social services systems

• Projects for local government units related to the building of GIS systems and SIT terrain information systems

• Crisis management support solutions

• E-services implementation projects

New products and services:

• GIS (geodetic portals, cartography)

• New products for local government organisations, e.g. e-Oświata, crisis management

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H2 2009 – utilities sector prospects

Sector challenges:

• Separation of billing systems into the Trade Service Sale System (T3S) for sellers of electricity and the Distribution Service Sale System (D3S) for operators of distribution systems

• Implementation of network asset management systems for electricity and gas network operators• Offering integrated computer systems to heating and water companies (ERP/Biling/GIS)

Top prospects:

• PSE Operator SA – modification of the zSIRE for day-to-day management• Energa Operator SA, Enea Operator SA and Vattenfall Distribution Poland – supporting applications within

the Sygnity Utilities for Distribution programme• PGE – billing system modifications• PGNiG SA – integration of billing systems and invoicing, contract depositories as part of PGNiG’s trade

with gas recipients, data migration and building of SAP system interfaces • MPWiK Wrocław – integrated computer system• Energa SA, Enea SA, Tauron SA, PGNiG SA – Microsoft solutions

Sector challenges:

• Strengthening product range with regard to consulting services and application integration• Upgrade of sector applications to new versions (metering and billing systems)• Increased collaboration with Microsoft and Cisco in the power sector• Acquisition of contracts for implementing integrated system solutions

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H2 2009 – telco sector prospects

Sector challenges:

• Signing an agreement with TP as part of the Vendor Consolidation programme with regard to OSS, Corporate and Reporting areas

• Collaboration with telco operators with regard to compliance with regulations set by the Electronic Communications Office

• Telco operators limiting their investment budgets

Top prospects:

• TP – new versions of OSS and KSP solutions

• TP – prequalification and scanning, expansion of reporting systems, cooperation on EURO 2012

• Exatel – modernisation of the framework and network management

• Telekomunikacja Kolejowa – network management system, the ”Internet na dworcach” (”Internet at Railway Stations”) programme

• Dialog – Inventory.CL new passporting system

• Sferia – addition of MPLS to the network’s framework

New products and services:

• Provisioning – automation of activation processes and settlement of telecommunications services

• Inventory.cl – new passporting system

• CRM and billing for cable television and alternative telco operators (R&D project)

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H2 2009 – industry sector prospects

Sector challenges:

• Cable television operators – market consolidation, takeovers

• Diversification of petrol station management system providers for PKN Orlen

• Mining companies – an IT ”greenfield”, large new projects

• Computerisation of PKP (state railways) – adjustment to European standards

• Retail market – demand for new services

• SME market – large market potential with regard to mass product distribution over the Internet

Top prospects:

• Bliska – Petrol Station Management System

• Orlen – petrol station service, internet portal

• SPEC, Animex, Siódemka, Emitel, KHW, KGHM Group – ERP solution

• Vectra, Multimedia – Provisioning, NMS, passporting

New products and services:

• Petrostation – new version for petrol station management

• System for retail sales management

• Gemcom – three-dimensional deposit visualisation, system for managing mining damage

• Loyalty system for PSP (small petrol station chains)

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2009 backlog

Sector [PLN '000]

Order portfolio

Banking and finance 133 603

Public 114 075

Telco-Industry 82 998

Utilities 65 657

Total 396 332

67% of the current backlog consists of own solutions (services, licences and maintenance)

The backlog for 2010 – 2011 currently amounts to more than PLN 100m

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2009 outlook

Revenues about PLN 900m – lower revenues as a result of the economic slowdown and concentration on services and application projects

Estimated 2-3% recurrent EBIT margin (not including profit from sale of assets)

Effect of assets disposal on EBIT expecetd to amount to approx. PLN 10-12 million (2-3 transactions to be carried out)

Maintaining margins at 2008 levels (despite the sale of assets), due to improved sales structure

Initiation of development programmes financed with European Union funds (in 2009-2010, subsidies of approx. PLN 10m for projects valued at PLN 25m)