NRST Neurosoft S A

Press Release 26 September 2012

BoD of Neurosoft S.A. approves 2012 First Half Year Results
· · · · ·

Consolidated revenues in the first half 2012 to 1,86 million ( 1,88 million at 2011 midyear) Gross profit to 0,58 million ( 0,54 million at 2011 midyear) Profit before income taxes to 0,001 million (loss 0,33 million at 2011 midyear) Net loss to 0,06 (net loss 0,38 million at 2011 midyear) Net Financial Debt equal to 0,87 million

Athens, 26 September 2012 - The Board of Directors of Neurosoft S.A. met today and approved the first half year results ended 30th June 2012, including the results for its subsidiaries Rockberg Holdings Ltd, Kestrel Information Systems S.A.. Neurosoft, traded on Milan's AIM Italia market (GRS802003004, Reuters NRST.MI, Bloomberg NRST:IM), has Integrae SIM SpA as its Nominated Adviser. Neurosoft's consolidated half year revenues were 1,86 million almost similar to the prior-year period. The Group's Profit before income taxes for the first half of 2012 was 0,001 million, compared with loss of 0,33 million the year before. "First semester results show that the company is moving towards the right direction. Product maturity and cost rationalization seem to strengthen the company's position within its market places in Greece and abroad" said Nikos Vasilonikolidakis, Chief Executive Officer of Neurosoft. "" **********
Neurosoft S.A., a Greek company listed on the AIM Italia market, organised and managed by the Italian Stock Exchange (ISIN GRS802003004, Reuters NRST.MI, Bloomberg NRST:IM), today is a software provider supplying solutions that optimize business and operational processes with a view to maximize customer profitability. Neurosoft's innovative integrated software systems in factoring, sports betting, business intelligence, liability management, transactional systems, and the implementation of mission critical applications have provided tools to financial institutions, stock exchanges, telecom companies and sports betting operators to increase operating efficiencies, act on well-depicted real-time risk and liability analysis, and increase revenues and bottom line capitalizing on sophisticated predictive analytics. Neurosoft was founded in 1994 and became the first company to be floated in the AIM Italia market of the Milan Stock Exchange in 2009. Based in Athens, Neurosoft has a multinational presence in Romania, Albania, Serbia, Bulgaria and Cyprus. As of today Integrae SIM S.p.A is Neurosoft's Nominated Adviser for the AIM Italia market.
Neurosoft SA Alexandra Andriopoulou +30 2106855061 Integrae SIM Luigi Giannotta +390278625302 Luca di Liddo +390278625300

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NEUROSOFT SOFTWARE PRODUCTIONS S.A. AND ITS SUBSIDIARIES
Unaudited Interim Condensed Consolidated Financial Statements for the period ended June 30, 2012
(Amounts in Euro, unless otherwise stated)

Attached: synthetic data of Economic Account, Patrimonial and Financial StructureINTERIM I

STATEMENT OF COMPREHENSIVE INCOME

01.01N otes R ev enues Cost of services Gr os s profit Selling and distribution expenses Adminis trativ e expenses Other income Financial income Financial costs Profit (Loss) before income taxes Income taxes Net loss (A) Other total comprehensive income after tax (B) Total comprehensive losses after tax (A)+(B) Loss attributable t: Equity holders of the parent Non-controlling interests Los ses per share (Basic) Los ses per share (Diluted) W eighted Average Number of Shares (Basic and diluted) 3 3 0 .0 6 .2 0 1 2 Unaud ited 1.856.875 (1.271.528) 585.347 (262.008) (285.294) 6.890 36 (43.511) 1.459 (65.577) (64.118) (6 4 . 1 1 8 )

01.013 0 . 0 6 .2 0 1 1 Unaud ited 1.877.513 (1.334.092) 543.421 (312.022) (532.844) 1.599 (32.940) (332.785) (51.105) (383.890) (383.890)

4

(63.099) (1.019) (64.118) (0,0025) (0,0025) 25.000.000

(375.202) (8.688) (383.890) (0,0150) (0,0150) 25.000.000

The accompanying notes are an integral part of the Interim Condensed Consolidated Financial Statements

2


NEUROSOFT SOFTWARE PRODUCTIONS S.A. AND ITS SUBSIDIARIES
Unaudited Interim Condensed Consolidated Financial Statements for the period ended June 30, 2012
(Amounts in Euro, unless otherwise stated)

INTERIM STATEMENT OF FINANCIAL POSITION
3 0 .0 6 .2 0 1 2 Notes ASS ETS Non-Cur r ent Assets Property, plant and equipment Intangible assets Investments in associates accounted under the equity method Other non-current assets Deferred tax asset Total Non-Current Assets Current Assets I nv entories Trade accounts receivable Prepayments and other receivables Financial assets at fair value through statement of comprehensive income Cash and cash equivalents Total Current Assets TOTAL ASSETS EQUITY AND LIABILITIES Eq uity attributable to equity holders of the parent company S hare capital Share premium Other reserves Retained earnings Minority interests Total Equity Non-Current Liabilities Long term finance lease obligations Reserve for staff retirement indemnities Deferred tax liability Total Non-Current Liabilities Current Liabilities T rade accounts payable Short-term borrowings Short-term portion of finance lease obligations Income tax payable Accrued and other current liabilities Total Current Liabilities Total Liabilities TOTAL LIABILITIES AND EQUITY 456.775 1.156.822 8.845 56.130 841.515 2.520.088 2.602.916 4.424.114 355.927 1.182.098 14.202 86.644 981.505 2.620.376 2.706.133 4.591.449 82.828 82.828 1.652 84.104 85.757 8.750.000 600.000 163.330 (7.898.433) 1.614.897 206.301 1.821.198 8.750.000 600.000 163.331 (7.835.335) 1.677.996 207.320 1.885.316 7 344.670 1.660.810 524.264 1.500 291.073 2.822.316 4.424.114 372.670 1.762.191 417.699 940 264.284 2.817.784 4.591.449 6 5 173.427 812.178 37.000 35.118 544.076 1.601.799 197.506 892.156 37.000 37.349 609.653 1.773.664 Unaud ited 3 1 .1 2 .2 0 1 1 Aud ited

The accompanying notes are an integral part of the Interim Condensed Consolidated Financial Statements

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NEUROSOFT SOFTWARE PRODUCTIONS S.A. AND ITS SUBSIDIARIES
Unaudited Interim Condensed Consolidated Financial Statements for the period ended June 30, 2012
(Amounts in Euro, unless otherwise stated)

INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY

Noncontrolling Attrib utab le to equity holders of the parent company S h ar e Share premium Other reserves Retained earnings Total interest Total Equity

GROUP

capital

Balance at 1 January 2011 L os s for the period Other comprehensive income Total comprehensive income Balance at 30 June 2011 Balance at 1 January 2012 L os s for the period Total comprehensive income Balance at 30 June 2012

8 .7 5 0.0 0 0 8 .7 5 0.0 0 0 8 .7 5 0.0 0 0 8 .7 5 0.0 0 0

6 0 0 .0 0 0 6 0 0 .0 0 0 6 0 0 .0 0 0 6 0 0 .0 0 0

1 6 3 .3 3 0 1 6 3 .3 3 0 1 6 3 .3 3 1 1 6 3 .3 3 1

(6 . 6 4 5 . 3 5 2 ) (375.202) (1.089) (7.021.643) (7 . 8 3 5 . 3 3 5 ) (63.099) (7.898.434)

2 . 8 6 7 .9 7 8 ( 3 7 5. 2 0 2) ( 1. 0 8 9) 2 . 4 9 1 .6 8 7 1 . 6 7 7 .9 9 6 ( 6 3. 0 9 9) 1 . 6 1 4 .8 9 7

2 2 3 .9 4 8 (8.688) 2 1 5 .2 6 0 2 0 7 .3 2 0 (1.019) 2 0 6 .3 0 1

3 .0 9 1.9 2 6 ( 3 8 3. 8 90 ) (1.089) 2 .7 0 6.9 4 7 1 .8 8 5.3 1 6 ( 6 4. 1 18 ) 1 .8 2 1.1 9 8

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NEUROSOFT SOFTWARE PRODUCTIONS S.A. AND ITS SUBSIDIARIES
Unaudited Interim Condensed Consolidated Financial Statements for the period ended June 30, 2012
(Amounts in Euro, unless otherwise stated)

INTERIM CASH FLOW STATEMENT
01.013 0 .0 6 .2 0 1 2 Cas h flows from Operating Activities L os s before income taxes Adjus tments for: Depreciation and amortisation Provisions Financial (income)/expenses Decrease/(increase) in financial assets Operating loss before working capital changes (Inc rease)/Dec rease in: Inventories Trade accounts receivable and prepayments and other Other non current assets Increase/(Decrease) in: T rade accounts payable Accrued and other current liabilities Interest paid T ax paid Net cash from/(used in) Operating Activities Cash flows from Investing Activities Capital expenditure for property, plant and equipment Purchas e/dev elopment of intangible assets Interes t and related income received Net cash used in Investing Activities Cas h flows from Financing Activities Net change in short-term borrowings Net Change in finance leases Net cash from Financing Activities Net decrease in cash and cash equivalents Cas h and cash equivalents at the beginning of period Cash and cash equivalents at the end of the period 1.459 (332.785) 0 1. 0 1 3 0. 0 6 .2 0 1 1

130.741 43.475 1 75 . 6 7 6

221.595 31.341

(79.849)

(5.184) 2.231 100.848 (131.377) (43.511) (30.514) 68.169

270.813 6.727 (571.600) 479.662 (32.940) (30.847) 41.964

(9.131) 36 (9 .0 9 5 )

(43.191) (76.171) 1.599 (1 1 7 .7 6 3 )

(25.276) (7.009) (3 2 .2 8 5 ) 26.789 2 64 . 2 8 4 2 91 . 0 7 3

19.813 (6.581) 1 3 .2 3 2 (62.567) 314.347 2 5 1 .7 8 0

The accompanying notes are an integral part of the Interim Condensed Consolidated Financial Statements

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