Lavide Holding N.V.

Earnings Release • Apr 26, 2007

Qurius 2007 first quarter results

	2007	2006 (*)
(in thousands of euros)	first quarter	first quarter
Net sales	25,756	9,841
EBITDA	1,888	1,175
EBIT	1,319	912
Net profit	642	620

(*) Q1-2006 excludes Watermark

April 26, 2007 – In the first quarter of 2007, Microsoft specialist Qurius achieved a net sales of 25.8 million euro. Earnings before interest and tax (EBIT) were 1.3 million euro (first quarter 2006: 0.9 million euro).

The 2006 first quarter results include the activities of Magnus that became an independent company as of 1st July 2006 (net sales of Magnus in Q1 2006 was 1.6 million euro and EBIT in Q1 2006 was 0.2 million euro). The 2006 first quarter results exclude the results of the former Watermark which have been consolidated with Qurius since 1st January 2007. In the first quarter of 2007 the consolidated net sales of the former Watermark represented 16.3 million euro with an EBIT of 0.8 million euro. The interest expenses have increased as a result of the financing of Watermark.

"The integration process with Watermark is progressing according to plan. Furthermore we continue to give body to our international acquisition strategy as shown by the recent announcements of our intentions concerning a number of take-overs (Ibitec, Cedilla, Wilhelm+Zeller). The operational results in the first quarter are in accordance with our expectations" said Fred Hermans, chief executive officer of Qurius.

Qurius N.V.

Qurius provides architecture, realization and systems management of Microsoft technology based business and IT solutions, including infrastructures. Qurius has over 725 staff members; its headquarters are located in Zaltbommel, the Netherlands. Its offices in Belgium, Denmark, Germany, Italy, the Netherlands, Norway, Spain, Sweden and the United Kingdom serve over 1,700 clients. Qurius has been publicly listed on Euronext Amsterdam since 1998. On 18th December 2006, Qurius' shareholders authorized the merger with Watermark, which created Europe's largest Microsoft Dynamics partner. For further information, see www.qurius.com.

Contact

Qurius, Fred Hermans: telephone +31 (0)418 683 500 or Fred.Hermans@Qurius.com.

Consolidated profit and loss account

(in thousands of euros)
	Q1 2007		Q1 2006
Net sales Cost of sales Gross margin	25,756 7,801	17,955	9,842 2,352	7,490
Wages and salaries Pension and social security costs Other operating expenses	11,426 515 4,126	-16,067	3,953 614 1,748	-6,315
EBITDA		1,888		1,175
Depreciation and amortisation		-569		-263
EBIT		1,319		912
Financial income and expenses		-372		-36
Profit before taxation		947		876
Taxation		-305		-256
Net profit		642		620

Net sales, Gross margin, EBITDA and EBIT by activity

(in thousands of euros)

	Q1 2007		Q1 2006
Net sales Qurius Advanced Solutions Qurius Business Solutions Qurius Infrastructure Solutions Qurius Managed Services Magnus Management Consultants	1,022 22,813 1,473 448 0	25,756	1,068 5,569 1,615 0 1,590	9,842
Gross margin Qurius Advanced Solutions Qurius Business Solutions Qurius Infrastructure Solutions Qurius Managed Services Magnus Management Consultants	778 16,250 468 459 0	17,955	848 4,580 468 0 1,594	7,490
EBITDA Qurius Advanced Solutions Qurius Business Solutions Qurius Infrastructure Solutions Qurius Managed Services Magnus Management Consultants Holding costs	152 2,168 -70 100 0 -462	1,888	227 962 -36 0 194 -172	1,175
EBIT Qurius Advanced Solutions Qurius Business Solutions Qurius Infrastructure Solutions Qurius Managed Services Magnus Management Consultants Holding costs	127 1,666 -85 73 0 -462	1,319	200 784 -53 0 175 -194	912

Net sales by sales category

(in thousands of euros)

	Q1 2007	Q1 2006
Net sales
Licences	4,919	782
Maintenance	4,381	700
Services	15,166	5,477
Hardware	1,290	1,293
Magnus	0	1,590
	25,756	9,842