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First Quarter Trading Update

Zenitel reached EUR 16.5 million in revenues for the first quarter of 2014 compared to EUR 15.9 million last year.

This represents a growth of 4.3 percent.

The revenue growth is coming from the Secure Communication Systems (SCS), which is primarily focusing on its worldwide recognized brand Vingtor-Stentofon. The Caribbean Network businesses reported revenue in line with last year.

As the second quarter has started somewhat slower, we expect our Q2 revenues to be in line with last year.