Info-Quest announces consolidated financial results for the nine months ended September 30th, 2005 under IFRS.
- Consolidated Revenues of Euro 371,1 m versus Euro 335,8 m an increase of 10,5%.
- Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of Euro 27,9 m versus Euro 8,1 m.
- Consolidated Earnings before Taxes (E.B.T.) of Euro 13,2 m versus losses of Euro 6,1 m
- Consolidated Earnings after Taxes and minority interest of Euro 9,7 m versus losses of Euro 2,7 m

The improvement in the profitability of the Group was mainly due to the strong financial performance of Q-TELECOM, the telecom business of parent company Info-Quest, as well as the turnaround and the return to profitability of ACS. Parent company's revenues in the nine months ended September 30th, 2005 reached Euro 296,8 m vs Euro 267,2 m, EBITDA more than doubled to reach Euro 25,7 m vs Euro 11,4 m, Earnings before Taxes reached Euro 13,7 m vs losses of Euro 55 thousands and Earnings after Taxes reached Euro 10,2 m vs losses of Euro 0,4 m.
The Board of Directors of Info-Quest decided on August 29 the spin-off of the company's telecommunications business according to the provisions of law 2166/1993 and its contribution to Info-Quest's 100%-owned subsidiary Q Telecommunications S.A..
The financial statements of the business will be drawn up as of the 31st August 2005. The completion of the separation is subject to the resolutions of the appropriate bodies of the two companies and the approvals of all relevant authorities, as specified by law.
The financial results of the telecommunications business for the period from September 1st 2005 until the completion of the spin-off will not be included in the FY 2005 financial results of parent company Info-Quest. However; they will be included in the FY 2005 consolidated results of Info-Quest since Q Telecommunications S.A. is a 100% subsidiary.
On October 28th 2005, Info-Quest signed an agreement for the sale of Q-Telecom to APAX and TPG, the private equity funds who control the majority of shares of TIM Hellas for Euro 325 million in cash and the undertaking of Euro 25 million in debt.
The Extraordinary General Assembly of Info-Quest shareholders that will be held on December 5, 2005 will decide on the Spin Off of the Telecommunications business of the Company and the sale of the 100% of the shares of Q Telecommunications S.A.

The parent company's financial results per business area for the nine months ended September 30th, 2005 under IFRS are as follows:
I. T.
The IT revenues reached 183 m from Euro 190,2 m EBITDA Euro 4,3 m, vs 5,5 m and Earnings before Taxes reached Euro 2,3 m vs Euro 1,6 m. The reasons of that decrease are the lower IT spending and the shift of the focus of the company from market share to sales with higher profit margins. Info-Quest strategically focuses to increase its sales to areas that can offer value added services, selling directly to big customers (Public Sector, Banks, telecoms). For the last three years there is an annual increase of 25% in the sales of the IT Business Solutions & Applications division.
Q-TELECOM
Q-Telecom's Revenues reached Euro 113,7 m in from Euro 76,9 an increase of 48%.
EBITDA reached Euro 21,5 m from Euro 5,9 m and earnings before taxes reached Euro 11,4 m vs losses of Euro 1,6 m.
Q-Telecom's customer base on September 30, 2005 reached 907.886 active mobile connections and 74.858 fixed line connections.
Q-Telecom?s commercial policy focuses on mobile telephony and especially on the prepaid. During the third quarter of 2005 Q-Telecom added 53.450 net new additions, most of them prepaid.
For the mobile line connections and for the period from 01/01/2005 until 30/09/2005, the Average monthly Revenue per User, ARPU, was 15,3 the Average monthly Minutes of Use, AMOU, 47 min and the Average monthly No of SMS, ANSMS, per mobile connection reached 57 messages.
Q-TELECOM is aiming to 1.000.000 active mobile connections by the end of 2005 with annual revenues in excess of 150 m. Q-TELECOM also provides integrated fixed wireless solutions to corporate customers.
ACS Courier
ACS, the courier services company, which has recovered in 2005, has sales of Euro 47,9 m vs Euro 44,8 m, EBITDA Euro 1,6 m vs losses of Euro 5,3 m and EBT of Euro 0,6 m vs losses of Euro 6,6 m in 9mo 2005.
ACS has the largest network of franchisees with more than 320 points of sales in 200 cities in Greece. ACS operates in Cyprus and Albania and from this year will also operate in Bulgaria and Romania.
About Info-Quest:
Established in 1981, Info Quest (listed since 1998 at Athens Stock Exchange-ASE , Reuters ) is the largest Greek Information Technology (IT) Company, ranked by its sales volume. Info Quest operates mainly in Greece, focusing its activities in the areas of IT and Telecommunications, and operates through three distinct operational sectors: (1) Products & IT Support Services, (2) Software and IT Solutions, (3) Telecommunication Services (Q-Telecom). Moreover, Info-Quest is a majority shareholder of AC S, the leading courier company in Greece with 320 points of sales. Info Quest reported a consolidated turnover of 483 million for the fiscal year ended December 31, 2004. Info-Quest and its subsidiaries employ about 1.500 people. The company develops services activities through which aims to achieve higher profit margins. Info-Quest carries out large scale investments in its telecom division that enable it to provide both fixed and mobile telephony services throughout Greece.