Mellon Group of Companies reports double digit growth figures

Athens - 25 June 2007

Dynamic geographical and business expansion Improved results across all business activities

Mellon Group of Companies uniquely positioned to provide top value added services and advanced technological solutions to financial institutions and other big organizations, announced today increased revenues for 2006 underlying the Group’s solid growth both in Greece and abroad. Total consolidated revenue for 2006 was €50 million, 50% higher than 2005. Consolidated earnings before taxes grew to €1.3mln. Mellon Technologies, the parent company of the Group, also reported strong results, with revenues increasing by 48% to €20 million and profits three times higher than the previous year.

2006 milestones:

Geographical expansion
• In the summer of 2006, Mellon Group of Companies expanded beyond the Balkan region, with the launch of Mellon Poland in Warsaw, a company that has already developed important cooperations for its advanced products and services portfolio.
• Moreover, towards the end of 2006 the Group began the inauguration process of its Cairo-based subsidiary, Mellon Egypt, placing Mellon at the crossroads of 2 major markets, those of North Africa and Middle East. The company began its commercial operation early in 2007.

Acquisitions
• In mid-2006, Mellon Romania, the Group’s subsidiary in Bucharest, enhanced its dynamics in the outsourced contact services market with the acquisition of OCCO.

Awards
• Mellon Collection Services, a top provider of contact center and debt management services in Greece, was ranked 92nd amongst 500 companies from 28 European countries, and 4th amongst 19 Greek companies as provided by the 2006 Europe’s 500 list of fastest-growing companies.

A look into 2007

In March of this year, Mellon Collections Services was included in the top 20 Companies with the Best Working Environment in Greece for 2007, as ranked by the Great Place to Work® Institute Hellas. Also, during the second half of 2007 Mellon Group of Companies plans the commercial operation of Mellon Ukraine, its subsidiary in Kiev.

Overall, due to the impressive momentum that financial organizations have gained in South-eastern Europe, and their rapidly implemented plans for expansion in new regions such as the Central European and North African markets, the footprint of Mellon Group of Companies in those countries constitutes a great opportunity for further development in 2007.

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