PR Newswire/Les Echos/

Press release, 28 September 2010

Fiscal 2009/10 Results 
Higher operating margin 
Cap 2014 Plan

(Euro thousands)                          FY08/09   FY08/09 FY09/10   Change
                                          headline adjusted*       vs adjusted
Revenues                                    40,057  40,057  40,415     +1.0%
Operating income before exceptional items      450     698   1,028    +46.9%
Other operating income & charges                 0       0   - 227       -
Operating income                               450     698     802    +14.4%
Net financial items                            -20     -20       2      NS
Affiliates                                     -19     -19      27      NS
Taxes                                         -193    -440    -313    -28.8%
Net income                                     219     219     517     +136%

* Adjustment of the Corporate Value Added Contribution to make the data
comparable with the previous year: EUR +248,000 in taxes for fiscal 2008/09
versus reported

Aedian is today publishing its consolidated results for fiscal 2009/10 ended 
30 June 2010.

* Back to profitable growth
Aedian announces fiscal 2009/10 revenues of EUR 40.4 m, up 1% compared with the
previous year, despite the recession in its market.

As of 30 June 2010, the operating income before exceptional items increased to
EUR 1.0 m, or 2.5% of revenues, versus 1.1% reported as of 30 June 2009 (1.7% 
as of 30 June 2009 after adjusting for the Corporate Value Added Contribution).
Aedian is thus reaping the first benefits of the measures taken in 2009-2010 to
simplify the organization and to better manage costs.

The operating income of the year includes non-recurring charges of EUR 227,000,
which relate to the first half. It grew by 78% to EUR 802,000 (EUR 450,000 as 
of 30 June 2009). Net income increased by 136%, also benefiting from the
contribution of the equity-accounted Tunisian subsidiary Aexia and the positive
financial position.

Aedian's balance sheet remains solid. As of 30 June 2010, net cash stood at 
EUR 2.6 m and debt was almost nil. The company's free cash flow rose sharply to
EUR 1.4 m. At the beginning of the year, the end of the factoring contract and
temporarily high trade receivables because of arrears settled after 
30 June 2010 exceptionally affected the change in WCR, which stood at 
EUR 2.2 m.

The Board of Directors will propose to the shareholders convened to the AGM on
26 November 2010 the payment of a EUR 0.16 dividend, reflecting a dividend 
yield of 4.2% based on a share price of EUR 3.85.

* Outlook - Cap 2014 plan launched
Positioned in markets with attractive long-term prospects, and backed by a 
solid base of customers and accreditations, Aedian will remain a pure player 
with expertise in services to the financial industry and public sector. To 
expand the growth rate and its positions in these attractive markets, Aedian 
has implemented a plan called Cap 2014, and articulated around its three growth
businesses - consulting, qualification and projects.

The purpose of Cap 2014 is to enhance Aedian's attractiveness with Customers,
Talents and Shareholders by working on the differentiation of the range of
services offered, the HR package proposed to our employees and the company's
profitability, which must tend toward industry standards. We have therefore 
set an underlying operating income target of more than 5% by the end of the
period.

The success of the 2010-2014 strategy requires optimizing the company's
operating efficiency. Ten potential drivers have been identified in three
fields: Human resources, Marketing & Trade and Internal organization. Their
implementation will enable Aedian to speed up its transformation.

SFAF meeting on 29 September 2010 at 10 a.m. in the Centre de conférences
Edouard VII - 23, square Edouard VII - Paris 9eme

Condensed balance sheets (in thousands of euro)

ASSETS                            30 June 10   30 June 09

Goodwill                              9,223         9,223
Fixed intangible assets                  18            28
Fixed tangible assets                   115           196
Affiliates                               33             5
Other financial assets                1,173         1,151
NON-CURRENT ASSETS                   10,561        10,604

Trade & other receivables            11,060         7,440
Other current assets                  1,445         1,292
Corporate income tax receivable         677           142
Net cash & equivalents                2,647         4,204
CURRENT ASSETS                       15,829        13,079

TOTAL ASSETS                         26,391        23,682

SHAREHOLDERS' EQUITY AND LIABILITIES   30 June 10  30 June 09

Share capital                               1,226       1,226
Additional paid-in-capital                  6,247       6,108
Reserves                                    2,675       2,667
Translation gains                               1           1
Attributable net income                       517         219
Minorities                                      0           0
SHAREHOLDERS' EQUITY                       10,666      10,222

Employee benefits                              27         142
Provisions                                    255           0
Long-term share of debt                         0          85
Deferred taxes                                 22          41
NON-CURRENT LIABILITIES                       304         268

Reserves                                      312         143
Short-term share of debt                       89         311
Trade payables                              3,579       2,532
Other current liabilities                  11,440      10,206
CURRENT LIABILITIES                        15,421      13,192

TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 26,391      23,682

Condensed income statements (in thousands of euro)

                                                30 June 10   30 June 09
                                                              reported
Revenues                                         40,415        40,057
Purchases                                        (4,914)       (4,167)
Personnel                                       (30,170)      (30,806)
External charges                                 (2,943)       (3,265)
Taxes other than corporate tax                     (774)       (1,085)
Depreciation                                       (139)         (190)
Impairment allowances                              (399)          (82)
Other operating expenses                            (47)          (11)
Operating income before exceptional items         1,029           450
Other operating costs                              (227)            0
Operating income                                    802           450
Income from cash & equivalents                        1            42
Gross interest expense                              (12)          (61)
Net interest expense                                (11)          (20)
Other financial income                               13             0
Net financial items                                   2           (20)
Share of income (losses) from affiliates             27           (18)
Taxes                                              (314)         (193)

Net income                                          517           219

Net income attributable to:
- Owners of the parent company                      517           219
- Minorities                                          0             0
Basic earnings per share (in euro)                 0.30          0.13

An IT consultancy and services company focused on the financial industry and 
the public sector

430 employees

www.aedian.com

ISIN - FR0004005924

Aedian
Stéphane Morvillez
Chief Executive Officer /
Managing Director
smorvillez@aedian.com

Frédéric Bourdon
Deputy Managing Director
fbourdon@aedian.com
Tel. (+33) 1 56 35 30 00

CM-CIC EMETTEUR
Financial communication
Arnaud Cadart
Tel. 2001 45 96 79 44
cadartar@cmcics.com

MP CONSEIL
Michelle Pilczer
Tel. (+33) 1 47 10 94 94
mpconseil@mpconseil.com

Next publication:

First-quarter 2010/11 revenues 27 October 2010
                      
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