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Zenitel Announces Third Quarter Trading Update

After a slow start of the third quarter primarily due to holidays in July and August, Zenitel witnessed a good recovery in the month of September. The revenues for Q3 isolated ended on 15,0 million EURO, up 1,2 percent compared to last year.

At the end of September 2011, year to date turnover amounts to 45,2 million EURO compared to 49,2 million EURO last year.

The deviations relate to the reduced project business in Scandinavia, the overall
slowdown in the world wide marine market, particularly the Asian market in Q1 and Q2, and currency fluctuations on our network business in the Caribbean.

Our onshore Vingtor-Stentofon  product sales are on the same level as last year. Despite the continuation of the uncertain world-wide market, Zenitel expects to deliver a profitable business for 2011.