METRIS: 2008 SALES GROWTH HALTS AND EBIT TURNS NEGATIVE

SWIFT ACTIONS TAKEN DURING 2008 ENABLE ADEQUATE POSITIVE FREE CASH FLOW FOR 2009

HIGHLIGHTS

- Sales growth in 2008 halts with sales declining 4% over 2007 to ?89 million
- 50% gross profit margin in 2008 versus 51% in 2007, the decline due to higher amortizations
- 2008 EBITDA came in just above break-even at ?3.7 million
- 2008 EBIT turned negative to -?9.7 million
- 2008 showed a net loss of ?14 million or ?1.1 net loss per weighted average undiluted share
- Net debt has increased during 2008 from ?52 million to ?87 million
- Swift action has reduced the fixed cost base and outgoing cash flows enabling the generation of adequate free cash flow in 2009

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Contact
Renaat Van Cauter - marketing@metris.com
Tel +32 16 74 01 00 - Mobile +32 486 64 24 33