Green Earth Group NV — Earnings Release 2011

Nov 10, 2011

Press!release

Business!update!Q3!2011!

• ""Results"as"expected

• ""Strong"improvement"over"2010

• ""Improved"prices"and"occupancy"in"rotogravure

• ""Pressure"on"web"offset"prices"unchanged

1.!Q3!2011!Results

Roto"Smeets"Group"(RSG)"has"achieved"much"better"results"in"Q3"than"in"the"comparable" quarter"of"2010."However,"we"have"not"yet"been"able"to"pass"on"all"of"the"increases"in"the"prices" of"our"raw"materials,"so"in"percentage"terms,"added"value"remains"below"the"growth"curve.

2.!Significant!events!in!Q3,!explanatory!notes

2.1"The"market

There"have"been"no"significant"changes"in"the"market;"it"remains"as"we"described"it"in"our"first" half"press"release."

Once"again"in"Q3,"RSG"has"succeeded"in"gaining"a"number"of"major"new"contracts"while"other" contracts"have"been"extended."

In"2012"our"collaboration"with"A.S."Watson"Group"will"be"considerably"intensified."The"A.S." Watson"Group"is"the"world's"largest"health"&"beauty"retailer,"known"in"the"Benelux"countries" under"the"brands"Kruidvat,"Trekpleister"and"ICI"Paris"XL."Starting"in"February"2012,"Roto"Smeets" is"to"manufacture"the"weekly"advertising"folders"for"retail"chemist"Kruidvat"in"the"Dutch"market.

As"announced"earlier,"Q3"saw"the"start"of"our"printing"agreement"with"motoring"organisation" ANWB"as"we"take"over"the"manufacturing"of"their"monthly"magazine"De"Kampioen."

An"agreement"has"been"reached"with"Sanoma"Media"Netherlands"to"continue"our"work"on"a" large"number"of"titles,"such"as"the"magazines"Libelle,"Margriet"and"Donald"Duck.

Unpredictable"factors"in"the"publishing"industry"include"reduced"advertising"volumes"and"the" introduction"of"new"legislation"banning"the"tacit"renewal"of"subscriptions.

The"retail"business"market"is"suffering"from"poor"consumer"confidence,"while"the"on#line" retailers"are"offering"competition"to"the"traditional"high"street"store.""Confidence"in"printed" door#to#door"advertising"continues"to"remain"high,"however.

The"Marketing"Communications"business"unit,"with"MediaPartners"Group"as"its"most"important" component,"will"not"be"affected"in"2011"by"the"adverse"economic"mood."Their"activities"are" developing"to"a"far"higher"level"than"in"2010.

2.2"Raw"materials

Developments"in"Print"Productions"are"being"adversely"impacted"by"yet"further"consolidation" among"the"paper"suppliers,"which"has"had"the"effect"of"pushing"prices"up."One"example"is"the" recently"announced"takeover"of"Myllykoski"by"UPM."

The"prices"of"other"raw"materials"also"continue"to"rise.

2.3"The"organisation

There"has"been"a"change"of"directors"at"Antok"Printers"Hungary,"which"has"improved"its" commercial"focus."A"number"of"new,"repeat"orders"have"been"added"to"their"portfolio."

After"the"Roto"Smeets"GrafiServices"sheetfed"offset"plants"had"achieved"level"3"of"the"Corporate" Social"Responsibility"performance"scale,"RSG"has"acquired"bronze"status"under"the"FIRA"Rating" System."The"FIRA"Rating"System"affords"associated"purchasers"independent,"reliable"information" on"the"sustainability"performance"and"risks"associated"with"the"businesses"in"the"scheme.""

2.4"Improvement"plans

The"internal"actions"already"announced"have"now"been"set"in"train,"principally"in"the"Print" Productions"business"unit."Their"effect,"with"the"associated"cost"savings,"will"only"start"to"make"a" full"contribution"to"improving"operational"results"after"2011.

2.5"Other"events

On"1"August"RSG"rented"out"the"old"printing"plant"at"Europalaan"12,"Utrecht,"to"PostNL." The"26,287"m² "complex,"in"a"total"area"of"nearly"4"hectares,"has"all"been"taken"into"use."This"is"a"four# year"contract"with"options"for"renewal.

The"well#attended"annual"shareholders'"company"visit"this"year"was"to"MediaPartners"Group"in" Amstelveen."Despite"the"scattered"information"in"the"Annual"Report,"the"examples"on"show"of" the"MediaPartners"communications"projects"for"such"clients"as"Albert"Heijn,"ABN"AMRO,"and" KLM,"were"an"eye#opener"for"many"shareholders."

3.!Financial!position

The"existing"financing"facility"remains"unchanged."The"financing"facility"with"ABN"AMRO,"which" was"temporarily"expanded"until"15"September,"has"been"reduced"once"again"to"the"original" level,"as"planned.""The"use"of"credit"is"developing"as"forecast.""

4.!Prospects

Despite"good"occupancy"and"improved"prices,"principally"in"rotogravure,"RSG"expects"that"the" net"result"for"2011"will"remain"slightly"negative."This,"however,"represents"a"considerable" improvement"over"2010."

5.!Financial!diary!2012:

Annual"figures"2011"published 15"March"2012 General"Shareholders'"Meeting 9"May"2012 Business"update"Q1"2012 9"May"2012 Half"year"figures"2012 23"August"2012 Business"update"Q3"2012 8"November"2012

Roto"Smeets"Group"NV" Management"Board

Deventer,"10"November"2011

For"further"information"please"contact: R.A.J."Huyzer,"interim"CEO L.M."van"Gelder,"Financial"Director

Tel." +31"570"69"49"05

This%is%an%interim%announcement%within%the%meaning%of%article%5:25e%of%the%Financial%Supervision% Act%[Wet%op%het%Financieel%Toezicht].

Profile

Roto%Smeets%Group%is%the%graphics%industry%market%leader%in%the%Netherlands,%with%a%leading%position%in% Europe.%Roto%Smeets%Group%inspires%with%its%innovative%solutions%for%printed%and%digital%media.%The%Group% has%demonstrated%its%right%to%exist%and%is%a%reliable,%ambitious%organisation,%continually%seeking%to%expand% its%range%of%services%and%modernise%its%production%facilities.%Roto%Smeets%Group%takes%care%to%ensure%the% safety%and%health%of%its%employees,%continually%investing%to%optimise%their%skills%and%expertise.%%Roto%Smeets% Group%conducts%its%business%in%a%socially%responsible%manner.%

In#the#event#of#any#difference#of#interpretation,#the#Dutch#original#of#this#English#translation#shall#apply# throughout#this#Business#Update#of#Roto#Smeets#Group#NV.

Hunneperkade%4,%7418%BT%Deventer,%The%Netherlands,%+31%570%69%49%00, info@rotosmeetsgroup.com,%ww.rotosmeetsgroup.com