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Half Year Results 2009

Zenitel reports positive recurrent EBITDA on revenue from continuing operations, after its divestments in the System Integration segment.

On August 21, 2009, Zenitel successfully closed and finalized the transaction of the sale of 85% of the shares of Zenitel Netherlands BV.

Revenues first half 2009 from continuing operations amount to EUR 33.5 million, versus EUR 32.5 million in 2008. Recurrent EBITDA from continuing operations increased from EUR -0.3 million to EUR +2.1 million.

In the first half of 2009 net result amounts to EUR – 4.4 million, compared to EUR -7.3 million in 2008. In 2009 the net result is due to (non-cash) losses on disposals and impairment losses on the future realization of its real estate activities, whereas in 2008 the net loss was mainly the result of the performance of the divested System Integration operation and the restructuring efforts in that area.

Going forward, Zenitel will focus on the Secure Communication Systems segment (including the Zenitel Denmark AS operations) and the Networks segment. All operating entities should generate positive cash flows from operations. At the same time, the holding structure will be substantially reduced.