PRESS RELEASE

Louvain-la-Neuve, 28 September 2012, 17h30 - Regulated information

Difficult market conditions lead to first half loss at BSB

Louvain-la-Neuve, 28 September 2012 - BSB announced today, a consolidated financial loss of EUR 4.7 million for the first half of 2012 due to new business activity being at a virtual standstill. On a more optimistic note, the company has seen a

strong upturn in client activity since June, and predicts a positive turnaround during the second half.

Against this background, BSB took the difficult decision to reduce its workforce earlier this year, as part of a package of measures to reduce costs, improve efficiency and productivity, as well as enhancing its processing facilities. BSB also increased its equity by EUR 5 million by entering into a relationship with Vermeg Group. These combined measures have significantly repositioned BSB and put it back in a financially sustainable position.
On the contract and licensing side, BSB won a major internet portal project in France and started the scoping phase in July. It also established a presence in Malta with
the sale of a Solife life insurance administration system to GlobalCapital, a major provider of financial services in the Mediterranean region. BSB also strengthened its association with the Argenta Group via a project for its Soliam wealth and asset management solution, in Luxembourg. In the United Kingdom, Zurich UK has entrusted BSB with the extension of an internal portal project into the retail side of the business.
BSB