Ad-hoc-Announcement

Results Forecast

BRAIN FORCE HOLDING AG: CEO Pridt launches an efficiency improvement programme and prolongs his contract 

Ad hoc announcement transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Having been in the top management of BRAIN FORCE HOLDING AG for about one
month, CEO Günter Pridt has decided on the details of the efficiency
improvement programme over the next two years. At the same time, his
temporary contract valid until December 2007 has been extended until the
end of 2009, thus enabling Mr. Pridt to implement his project himself.

After the impairment tests have been checked by the auditors PWC, brought
to a positive conclusion and determined that no further action is required,
and in view of the fact that the Supervisory Board has no indication that
the financial statements and reports of BRAIN FORCE were incorrectly
presented, the company has defined its strategy for the next few years.

A strict focus on profitable core segments and the close-down of all
unprofitable activities which are not relevant to the growth of the company
as well as ceasing development on projects with a poor profit potential
will be the basis for the further development of BRAIN FORCE. This involves
closing the sites in the USA, Great Britain and Spain. A reorganisation of
sales will be carried out by our own staff and integration partners, in
order to give quality priority over quantity and to ensure better service.
Sponsoring activities, especially in the field of motor racing, will be
completely abandoned. In the forthcoming months, the main focus will be on
customer relations, efficiency increase and the integration of companies
which have already been acquired. For the time being, further acquisitions
are not envisaged.

The cost of restructuring will be completely booked in the current
financial year 2007, for the most part in Q3 ending on September 30. After
a revue of all projections, the management expects annual sales of just
under EUR 100 million, an operating EBITDA of about EUR 3 million and a
negative EBIT before restructuring and impairment costs of EUR -2.3
million. After non-recurring expenses (restructuring and depreciation of
good will) EBIT will be about EUR -14 million. At the end of the financial
year (December 31, 2007) liquid funds will total approx. EUR 7 million.
Therefore, despite the restructuring measures, BRAIN FORCE do not expect a
tight liquidity position. The equity ratio will be about 35% and net
indebtedness about EUR 8 million.

From today's perspective, a positive result (EBIT) and a positive operating
cash flow is expected for 2008. Details of the forecasts for 2008 and a
concrete policy will be presented at the German Equity Forum taking place
in Frankfurt on November 13, 2007.


Contact:
BRAIN FORCE HOLDING AG 
Martin Kögel
Wilhelm-Wagenfeld-Straße 30
D-80807 München
Phone: +49 (0) 89 74833-985
Fax: +49 (0) 89 74833-920
mailto: martin.koegel@brainforce.com



(c)DGAP 02.10.2007 
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Language:     English
Issuer:       BRAIN FORCE HOLDING AG
              Wagramer Straße 19
              A-1220 Wien
              Österreich
Phone:        +43 (1) 2630909-0
Fax:          +43 (1) 2630909-40
E-mail:       postoffice@brainforce.com
Internet:     www.brainforce.com
ISIN:         AT0000820659
WKN:          919331
Listed:       Amtlicher Markt in Wien
 
End of News                                     DGAP News-Service
 
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