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January 31, 2000

Diagonal Preliminary Results FY98/99

COMPANY PRESS RELEASE : Diagonal recently announced record profits for the year ended 28 November 1999.

By CBR Staff Writer

Group turnover up 3% to GBP72.4 million (GBP70.2 million)

SAP Consulting turnover up 27% to GBP30.6 million (GBP24.0 million)

Profit before tax up 14% to GBP8.4 million (GBP7.4 million)

Retained profit up 22% to GBP4.9 million (GB4.0 million)

Earnings per share up 25% to 7.9 pence (6.3 pence)

Dividends per share up 25% to 1.5 pence (1.2 pence)

Shareholders funds up 42% to GBP19.7 million (GBP13.9 million)

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Commenting on the results the Group’s Chairman, Mark Samuels, said, In what can only be described as a uniquely difficult trading period for IT Service companies, I am particularly pleased to report our seventh successive year of increased profits. Turnover attributable to our consulting activities rose from 44% to 56% of Group revenue, pushing up profit margins by a full percentage point to 11.4%. This margin will continue to improve as we accelerate the process of change.

The change Mark Samuels was referring to is the Group’s increasing emphasis on the development of high-value consulting activities.

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