Mission

2008 has been a very successful year for BSB: revenues increased by 35% and consolidated earnings doubled. Our IPO was a great success despite a discouraging economic climate. Moreover, this progress is general and can be observed at different degrees in all the departments of the company.

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Our « software » activity is in full expansion.

At the time of the IPO, mid-2008, we counted 6 reference clients for Solife; in March 2009 this number has increased to 11. This is a very encouraging sign within the context of the new international-oriented strategy that we are currently putting in place.

Soliam’s main target, the asset management market, shows however some stagnation and demand is rather slack. Obviously, our clients wait for the stock market to recover before making new investments. Despite this, the Soliam activity is progressing, but this situation is mainly due to our client portfolio rather than to the signing of new contracts.

We are very proud to have provided our clients with front ends developed in « Rich Internet Application » technology, and this for both of our software packages Solife and Soliam. This technology, combining the ergonomy of fixed workstations with the flexibility of the Internet, generates an important extra value for our clients. At European level, this is probably also a first in the world of software publishing.

With regard to our « Service » activity, we note an important increase of our SAP activities in Belgium and Luxembourg, even though this market is generally considered as very difficult. This increase is due to the motivation and the quality of our teams, as well as to our strategic positioning as a partner of the public and parapublic sector.

We have also realized strong performances with regard to the integration of the IDIT software, designed for the management of non-life insurance policies and published by our Israeli partner with the same name. The signing of an important contract with a major French insurance company has considerably boosted this activity. In order to transform this 2008 performance into a structural one, we have created a business unit in 2008, entirely dedicated to this activity.

Overall, our « services » activity increased in volume as well as in price setting. Within the current economic context (end of 2008 and beginning of 2009), this result is more than satisfactory.

We intend to let our shareholders benefit from these positive results and will propose the Ordinary General Meeting to distribute a dividend of EUR 0,28 per share.

We would like to thank our employees for having subscribed to the offering of shares that was reserved for them.

We would also like to thank our new shareholders for their trust.

We commit ourselves to be worth of your trust.