CAD IT approves the 2003 annual report and the distribution of an ordinary dividend of €0.30 per share

The CAD IT Board of Directors have approved the Annual Report and the consolidated Annual Report at 31st December 2003.

The Group closes 2003 with Production Revenues of € 54.6 million and a Consolidated Pre-tax Profit of € 6.8 million (12.48% of revenues).

The Net Consolidated Financial Position is €14.1 million, thanks to a €12.5 million cash flow from operating activities (€3.3 million at the end of 2002).

A proposal for the payment of an ordinary dividend of €0.30 per share will be made at the Shareholders’ Meeting, an increase compared to the 2002 dividend (€ 0.18).

On the basis of the 2003 Annual Report results, CAD IT will apply for admission to the TechSTAR sector of the Italian Stock Exchange.