Dékuple — Earnings Release 2008

Oct 31, 2008

PARIS, 31 OCTOBER 2008

STRONG NET SALES GROWTH IN Q3 2008: +18.3%

Paris, 31 October 2008 – In Q3 2008, ADLPartner recorded strong growth in its business, with the gross sales volume1 climbing 20.1% to €69.2 million, while net sales2for Q3 2008 came to €31.9 million, up 18.3% compared with the same period the previous year. Over the first nine months of 2008, net sales totaled €91.0 million, representing an increase of 10.3% in relation to the previous year.

Strong growth in business over the first nine months

In line with its objectives, ADLPartner has achieved an acceleration in its growth since the start of 2008, in light of the ramping up of commercial investments. The open-ended subscription portfolio is up 8.5% to 2.8 million units. The gross sales volume came in at €203.0 million, 13.4% higher than the first nine months of 2007. Net sales are up 10.3% to €91.0 million, compared with €82.5 million the previous year.

As expected, Ofup's integration has contributed to the dynamic commercial development over the quarter, with the first sales for the start of the 2009 academic year.

Developments for each region

In France, the gross sales volume has climbed 15.9% since the start of the year, with net sales up 12.4%. In Q3 2008 alone, the gross sales volume increased by 22.5% to €64.0 million, with net sales rising 19.9% to €29.4 million.

At international level, performances have been affected by a deteriorated economic environment.

In Spain, the Group is showing its ability to resist, with business stable compared with the previous year (€2.07 million in net sales over the first nine months).

In Germany, as a result of the development of cross-selling and the strengthening of operations on the phonecard channel over the second half of 2008, business is gradually improving, with a 4.4% increase in net sales over Q3. Nevertheless, over the first nine months, net sales are down 13.0% on the previous year.

In Brazil, the Group is finalizing its test programs.

Change in the product mix

The dynamic level of growth is being driven by all of ADLPartner's offerings:

• Books, objects, audio and video

With the strengthening of its offerings, ADLPartner is seeing strong growth in this business, with net sales up 15.1% since the start of the year.

• Open-ended subscriptions

On this business, gross sales volume growth came to 12.8% over the first nine months of the year, with net sales up 7.9%; this trend reflects the strengthening of partnerships and the optimizing of marketing techniques on the various distribution channels.

- Fixed-term period subscriptions

Ofup's first sales are contributing to the brisk growth seen on the fixed-term period subscription offering. In this way, net sales climbed 42.7% in the third quarter, while sales are up 14.1% over the first nine months.

Outlook

ADLPartner is confident that it will be able to achieve sound and strong growth over the full year in 2008, paving the way for a further improvement in its net asset value3. Nevertheless, in light of the significant ramping up of commercial investments and the first integration of OFUP, ADLPartner is forecasting a temporary drop in profitability over 2008.

APPENDICES

Breakdown of the gross sales volume and net sales

By quarter:

At 30 September	2008	2007	Change
Gross sales volume (€ million)	203.0	179.0	13.4%
Q1	73.2	68.6	6.8%
Q2	60.6	52.8	14.8%
Q3	69.2	57.7	20.1%
Net sales (€ million)	91.0	82.5	10.3%
Q1	34.5	33.3	3.6%
Q2	24.5	21.9	10.6%
Q3	31.9	27.0	18.3%

By region:

At 30 September	2008	2007	Change
Active open-ended subscriptions (units)	2,836,388	2,614,896	8.5%
France	2,481,945	2,205,018	12.6%
International	354,443	409,878	-13.5%
Gross sales volume (€ million)	203.0	179.0	13.4%
France	188.0	162.2	15.9%
International	15.1	16.8	-10.1%
Net sales (€ million)	91.0	82.5	10.3%
France	83.7	74.5	12.4%
International	7.3	8.0	-9.5%

By offering:

At 30 September	2008	2007	Change
Gross sales volume (€ million)	203.0	179.0	+13.4%
Open-ended subscriptions	123.8	109.7	+12.8%
Fixed-term subscriptions	49.8	42.4	+17.6%
Books, articles, audio, video	25.3	22.3	+13.6%
Other	4.1	4.6	-11.5%
Net sales (€ million)	91.0	82.5	+10.3%
Open-ended subscriptions	40.4	37.5	+7.9%
Fixed-term subscriptions	26.0	22.8	+14.1%
Books, articles, audio, video	21.1	18.3	+15.1%
Other	3.4	3.9	-11.4%

Information on the company

As a specialist in relational marketing, ADLPartner designs, markets and implements customer relation management and loyalty services on its own behalf or on behalf of its major partners (banks, retailers, etc.). Capitalizing on its experience on magazine press and enhancing its wide range of offers, aimed at managing, reactivating or ensuring the loyalty of its customers, ADLPartner has established itself as the European number one for loyalty marketing with press subscriptions.

ADLPartner is listed on Euronext Paris – Compartment C - (Codes: FR0000062978 – ALP)

Contacts:

ADLPartner Calyptus Investor Relations & Financial Information Cyril Combe / Hélène Dujardin

relations.investisseurs@adlpartner.fr cyril.combe@calyptus.net/helene.dujardin@calyptus.net Tel: +33 1 41 58 72 03 Tel: +33 1 53 65 37 94 / +33 1 53 65 68 64

www.adlpartner.com

¹ Gross sales volume represents the value of subscriptions and other products sold.

² Net sales (determined in line with the French professional status for subscription sales) only include the amount of compensation paid by magazine publishers; for subscription sales, net sales therefore correspond to a gross margin, deducting the cost of magazines sold from the amount of sales recorded.

³ Net asset value represents the amount of equity plus the value of the active open-ended subscription portfolio.