Replying to an ATHEX enquiry regarding the article published in "Imerisia" newspaper on 13/03/2008, entitled "Acquisitions of 100 mio Euro planned by SingularLogic", and in the context of informing investors promptly and reliably, SingularLogic Management would like to inform that:
According to the investment plan of the last share capital increase amounting to 56 million Euro, fully covered in cash, as depicted in the relevant Information Bulletin, part of the proceeds are destined for business launching in New Markets and the Technology sector and for the geographical expansion of its activities in Southeastern Europe and the Balkans. These investments may be performed through subsidiaries enlargement, establishment of new affiliates and through possible acquisition of companies operating in other countries, New Markets and the Technology sector, actions that will offer immediate added value to SingularLogic's activities.
SingularLogic, in the context of its strategic expansion master plan - and based on the positive progress of its financial results - is in the process of continuous evaluation of companies operating in Technology sector, not only in Greece, but also in Southeastern Europe. In the context of continuously evaluating company "targets", whenever an announcement to the investment community is deemed pertinent, such an announcement will be promptly expedited as SingularLogic has performed in the past. We firmly maintain our strategic goal to further enhance our expansion, under the clear condition that any investment opportunity will immediately add value to the Company and to the benefit of its shareholders.