S&T AG

euro adhoc: S&T System Integration&Technology Distribution AG
Earnings
S&T Reports Strong Revenue Growth for Q1 2003 (E)

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· Revenues increased 34% to EUR 46 million · Core businesses grew 47% · EBIT went up 43% to EUR 0.8 million

April 23, 2003, Vienna, Austria - S&T System Integration & Technology Distribution AG (XETRA: SNT, OTC: STSQY), a leading IT service provider in Central and Eastern Europe, today announced its first quarter 2003 results. S&T’s revenues increased by 34 percent to EUR 46 million compared to the first quarter of 2002 and core business grew 47% to EUR 42 million.

The strong revenue increase of 70% for the Enterprise Systems Unit was mainly due to a large contract in Romania which added approximately EUR 10 million in revenues to the first quarter of 2003 as well as the consolidation of Turkish Protek which was not part of the S&T Group in the first quarter of 2002. The acquisition of Fujitsu Services Ltd’s operations in seven countries did not affect the first quarter results since consolidation of this acquisition will only start in the second quarter 2003.

Commenting on the first quarter results, CEO Tantscher said: "As expected, we had very solid results in first quarter 2003 which were further enhanced by the large Romanian contract. Overall, we are pleased that our EBIT increased by 43% percent, confirming our move towards higher value added services. There are promising projects in the pipeline, with some expected to materialize in the second quarter, which encourages us to look forward to the upcoming quarters with confidence".

Conference Call S&T’s management (CEO Karl Tantscher and CFO Martin Bergler) is available for a conference call on April 23 at 4.00 p.m. Central European time, UK: 3.00 p.m., US: 10.00 a.m. Eastern time. To take part in the conference call, please dial the international toll free 00800 369 369 60 or 0049 69 50 957 7554 a few minutes prior to the start time. If you have any questions please call 0049 69 50500600 for assistance. For an audio webcast of this conference call go to the IR-section of S&T`s corporate website (www.snt.at).

CONSOLIDATED INCOME STATEMENTS for the three months period January 1 to March 31, 2003 and 2002 (consolidated, unaudited) in EUR 1,000

Sales                                        1-3/03                  1-3/02                YoY

BS (Business Solutions)            4.472                    4.277                 5%
ES (Enterprise Systems)          32.363                  19.080                70%
CS (Customer Support)                5.537                    5.482                 1%
MS (Managed Services)                  578                          0              n.a.
MED (Medical Systems)                2.124                    3.062              -31%
ITD (Information
Technology Distribution)                 0                    1.651            -100%
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Total sales                              45.074                  33.552                34%
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Other Income                                 448                        424              5,7%
Total Revenues                         45.522                  33.976            34,0%
COGS                                        -33.569                 -23.523            42,7%
Staff                                        -5.994                  -5.147            16,5%
Other Operating Expenses         -3.764                  -3.603              4,5%
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EBITDA                                        2.195                    1.703            28,9%
Depreciation and amortisation    -653                      -568            15,0%
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EBITA                                         1.542                    1.135            35,9%
Amortisation of goodwill            -662                      -521            27,1%
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Profit from Operations / EBIT      880                        614            43,3%
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core business = CS + BS + ES  42.372   28.839 47%

About S&T S&T is a leading provider of IT solutions for clients in 18 countries in Central, Eastern and Southern Europe. The company consults, develops and implements tailored IT solutions and offers services around the clock. S&T has special problem-solving and service know-how for critical business applications. S&T focuses on the needs of large and middle-sized companies, especially telecommunications companies, banks, energy suppliers, public institutions and health services providers.

end of announcement            euro adhoc 23.04.2003
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Further inquiry note: Karl Tantscher Chief Executive Officer mailto:karl.tantscher@snt.at Markus Klampfer Corporate Communications mailto:markus.klampfer@snt.at S&T System Integration & Technology Distribution AG Gunoldstrasse 16, 1190 Vienna, Austria Phone: +43 1 367 80 88 0 Fax: +43 1 367 80 88 99 mailto:snt@snt.at http://www.snt.at/

Branche: Computing & Information Technology
ISIN:      AT0000905351
WKN:        
Index:    ATX Prime, NECI, ViDX
Börsen:  Nasdaq Europe / official dealing
              Wiener Börse AG / official dealing



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