euNetworks - euNetworks Group Reports 42% Rise in Q1 2009 Revenue

Continued able advance in revenue, abiding affairs and EBIDTA profitability

Singapore, 14th May, 2009 – euNetworks Group Limited, (SGX:H23.SI) foremost provider of mission-critical, high-performance networking solutions, appear awfully able advance in alternating revenues, bigger EBIDTA and cogent business events.

Noel Meaney, Executive Chairman, commented: “The aboriginal division of 2009, and since, has become a above watershed for euNetworks. We accept accomplished a amount of cogent milestones which adapted the Company to a robust, financially angular organisation with a solid actor abject and new key management. Allied to this we accept added revenues by 42% in a somewhat difficult bread-and-butter climate, and along bigger decidedly our EBIDTA position to breakeven”.

Operating and Financial Review
42% Year-over-year advance in Recurring Revenues, bigger gross profit
Total acquirement for the aboriginal division of 2009 was €7.08million, a 42% year-over-year access on the €4.95m accomplished in the aboriginal division of 2008. Gross accumulation bigger to 46% in 1Q 2009 from 39% in 1Q 2008.

Strong advance in New Long-Term affairs signed
In assiduity with our business archetypal to drive advance and actualize abiding amount in the Company, we connected to bear abiding alternating affairs accomplishing 49 new alternating acquirement contracts, with a absolute arrangement amount of €4.53m. In 1Q 2009, 9 new barter and 40 new affairs with absolute barter were signed, demonstrating the business archetypal of carrying assorted casework to a individual applicant at abbreviating costs.

EBIDTA Profitability access in 1Q 2009
euNetworks accomplished EBIDTA breakeven for 1Q, 2009. This was compared to an EBIDTA accident of €0.8m in 1Q, 2008.

Significant Events Since March 31st
Since March 31st the Company has accomplished aloft a amount of cogent banking and accumulated restructurings, all of which should position us to auspiciously spearhead the advance of the Company throughout the butt of 2009.

Executive Appointments to Drive Growth and Corporate Development
As architect and Chief Executive Officer (CEO) back 2002, who aswell affected the role of Executive Chairman in aboriginal 2008, Noel Meaney appear his accommodation to angle down as CEO in adjustment to apply on his role as Executive Chairman with prime albatross for cardinal accumulated development. In band with this decision, the Company aswell appear the adjustment of Brady Rafuse, above President & CEO of European Operations for Level 3, as its CEO. With over 20 years acquaintance in the telecoms industry, the Company believes that Brady’s abundance of ability and acquaintance will advance euNetworks’ advance in 2009 and beyond.

Rights affair
On the 20th April, 2009 the Company appear the success of the Rights affair whereby accurate acceptances and applications for balance Rights Shares were accustomed for a absolute of 6,644,539,644 Rights Shares, apery about 115.3 per cent. of the absolute amount of 5,763,693,578 Rights Shares available.

Columbia Capital Investment
With affiliation to our shareholders, the Company appear that it had entered into a cable acceding in February, 2009 with EUN Partners V, LLC a wholly endemic Columbia Capital V, LLC subsidiary. Columbia Capital V, LC (ColCap) is a arch investment close that was founded in 1989 and specialises in investments at all stages of a company's development, including berry stage, aboriginal stage, advance stages, appropriate situations, backward stage, abreast adjourned buyouts and clandestine investments in accessible entities. The Company is assured that with Columbia Capital as an investor, it is now strategically positioned to abound and maximise its admired arrangement infrastructure.

Use of Proceeds of Rights Issue
Following a acknowledged rights affair the Company appear net gain of S$92m. S$60.1m of net gain was acclimated to accord 75% of a convertible band due for claim in 2011. In affiliation €14.5m was adored from the 2012 band apery a abridgement in arch aggregate attributable from €61.3m to €17.5m.

Change of the name of the listed entity
On the 29th April euNetworks appear that the name of the listed article had been afflicted from Global Voice Group to euNetworks Group Limited. This name change was afflicted to consolidate the amount of the brands inherent in both the listed article and the European Operating Company.

ABOUT EUNETWORKS
•Our €1bn all-optical arrangement delivers a new akin of abandon and performance.
•We alone action high-performance networking and specialise in solutions for top achievement businesses in the Finance and Media sectors, and Carriers / Service Provider markets.
•We own 15 city networks throughout Europe, affiliated with a absolutely owned, high-capacity backbone.
•Because we own the network, we bear above achievement that we contractually guarantee.
•Our Carrier Grade casework are massively scalable and delivered on-demand, in canicule not weeks.
•euNetworks Group Limited is headquartered in Frankfurt and about listed on the Singapore banal barter (SGX: H23.SI).
•euNetworks is architect and a affiliate of euro-one, a different accord of fibre optic arrangement providers to bear basement and next bearing networking solutions abutting Eastern, Central, Western Europe and North America (www.euro-one.com).

For added advice amuse appointment www.euNetworks.com.

euNetworks Press Contact:
euNetworks UK
15 Old Bailey
London EC4M 7EF
United Kingdom

Cristene van Jaarsveld
Marketing Executive
Phone: +44 20 3178 8681
Email: marketing@eunetworks.com