Signed the new contract for the supply of IT services to Equitalia Group.s Companies

The contract is worth of Euro 13.3 million.
The supply and therefore the financial impact on the CAD IT Group balance will have a duration of 24 months.

CAD IT S.p.A., software and services provider company quoted in the STAR segment of Borsa Italiana, hereby announces that Equitalia S.p.A., nearing the expiry of the standing agreement with CAD IT at 31^st December 2010, has signed with the latter a new contract in order to provide the continuity of the supply of IT services to Equitalia Group’s Companies.

Following the tax collection system reform introduced by Article 3, Leg. Dec. no 203 of 25^th September 2005, the national concession system for tax collection was abolished and the tax service was then granted to the Tax Office responsible, under a private monopoly scheme, through Equitalia S.p.A.

The new contract involves application management services including corrective and evolutionary maintenance and activation of tax collection software procedures used by Collection Agencies.

The contract is worth a total of Euro 13.3 million. The duration and consequently the financial impact that it will give rise to is for 24 months as of 1^st January 2011.

Following the signature of this contract, the business line “tax collection” is estimated to grow, in terms of sales, of about Euro 1.5 million (+25%) in 2011 compared to 2010.