The Board of Directors approves the Interim Management Report at 31st March 2009

The Board of Directors of CAD IT S.p.A. (www.cadit.it), leader in the Italian financial software market and quoted in the STAR segment of Borsa Italiana, today approved the Interim Management Report at 31st March 2009.

The main results in regard to the Consolidated Profit and Loss account at 31st March 2009 are as follows:

• Value of Production of Euro 13 million compared to Euro 14.8 million in the first quarter of 2008. The internal work capitalized under fixed assets went from Euro 0.6 million in the first quarter of 2008 to Euro 0.7 million in the first quarter of the current year;
• Gross Operational Result (EBITDA) of Euro 1.5 million, corresponding to 11.8% of the Value of Production, compared to the Euro 2.9 million in the first quarter of 2008 (19.5% of the Value of Production);
• Operational Result (EBIT) of Euro 0.7 million corresponding to 5.4% of the Value of Production, compared to Euro 2.1 million in the first quarter of 2008 (13.9% of the Value of Production);
• Pre-tax and pre-third party share result of Euro 0.9 million (7.3% of the Value of Production), compared to the Euro 2.3 million in the first quarter of 2008 (15.7% of the Value of Production);
• Group pre-tax profit of Euro 0.9 million (corresponding to 6.7% of the Value of Production), compared to Euro 2.1 million in the first quarter of 2007 (14.1% of the Value of Production).

The Consolidated Net short-term Financial Position at 31st March 2009 is in credit by Euro 14.2 million and is on the increase compared to the Euro 13.3 million at 31st December 2008. This increase is mainly due to cash flows generated by the Company’s core business which stood at Euro 1.4 million in the first quarter of 2008.