Hitt og þetta 24. ágúst 2006

DPA Flex realizes a substantial increase in sales

Highlights first six months 2006

* The increase in sales amounted to 36% to ¤ 36.9 million in relation to the combined organisation last year; * Operating costs increased by 16%; integration is going well; * A further increase in profitability; the increase in the trading results (EBITDA) amounted to 97% to ¤ 1.9 million in relation to the combined organization last year; * Gross margin (22.1%) under pressure due to increasing number of subcontractors, the master contracts and purchasing of personnel capacity aimed at the future (supply and training); * IFRS forces depreciation of goodwill in the take-over of FGN Beheer B.V.; * New master contracts concluded; new market sectors tapped.

Peter Smit, CEO: "DPA Flex sales have increased by 36% and are therefore increasing faster than the temporary and secondment agency market. The increasing demand and stagnated supply of qualified professionals present us with a challenge. A further increase in the number of master contracts, also within new market sectors - DPA Flex recently started supplying commercial personnel to various banking clients as well - enables DPA Flex to realize their strategy and growth objectives. Furthermore, DPA Flex has expanded their service activities with a separate recruitment & selection business unit. This is the result of an increasing demand for permanent staff. Our results are negatively influenced by the depreciation of DPA Flex, but this depreciation concerns a book loss and is not related to our operational results. The secondment market remains a strong market, DPA Flex is making headway in concluding master contracts with large hiring companies and institutions and our working method is continuously being improved. All in all I am satisfied with the results we achieved in the first six months. The integration with DPA Flex is on schedule and the sales synergy emphasizes the success of our chosen course."

Financial highlights first six months 2006

Figures first six months 2006 in relation to DPA Holding N.V. HY 2005

+-------------------------------------------------------------------+ | In millions ¤ | HY1 2006 | HY1 2005 | % difference | |------------------+---------------+---------------+----------------| | Sales | 36.92 | 14.28 | 159 | |------------------+---------------+---------------+----------------| | Running costs | (29.9) | 3.98 | | |------------------+---------------+---------------+----------------| | EBITDA | 1.94 | 0.44 | 343 | |------------------+---------------+---------------+----------------| | Trading results | (21.8) | 0.19 | | |------------------+---------------+---------------+----------------| | Net profit | (22.2) | 0.14 | | |------------------+---------------+---------------+----------------| | In ¤ | | | | |------------------+---------------+---------------+----------------| | Profit per share | (2.25) | 0.02 | | +-------------------------------------------------------------------+

The comparison above was made between the first six months of 2005 of DPA Holding N.V. and HY1 2006 of DPA Flex Group N.V. For a full comparison the results of the combined organisation (DPA Holding N.V. and FGN Beheer B.V.) have been recorded below. Figures first six months 2006 in relation to the combined organisation HY 2005

+-------------------------------------------------------------------+ | In millions ¤ | HY 2006 | HY | % difference | | | | 2005 | | |------------------+--------------+-------------+-------------------| | Sales | 36.92 | 27.13 | 36 | |------------------+--------------+-------------+-------------------| | Running costs | (29.9) | 5.99 | | |------------------+--------------+-------------+-------------------| | EBITDA | 1.94 | 0.98 | 97 | |------------------+--------------+-------------+-------------------| | Trading results | (21.8) | 0.66 | | |------------------+--------------+-------------+-------------------| | Net profit | (22.2) | 0.40 | | |------------------+--------------+-------------+-------------------| | In ¤ | | | | |------------------+--------------+-------------+-------------------| | Profit per share | (2.25) | 0.04 | | +-------------------------------------------------------------------+

Summary of the financial results of the first six months 2006 The increase in sales and the underlying trends remain considerable in the Dutch secondment market. This year's increase in sales in the Netherlands is more considerable than last year's and in agreement with the pronounced expectation in the trading update of July 2006. Total sales amounted to ¤ 36.9 million, an increase of 36%. The increase in sales has been positively influenced by the large number of master contracts, the considerably increased demand and higher tariff average. DPA Flex Spain had a contribution of 4% in the group sales (¤ 1.4 million).

The trading results before depreciation (EBITDA) amounted to ¤ 1.9 million, an increase of 97% in relation to the combined organization in the first six months of 2005. The trading results are held down by the use of subcontractors, the increasing number of master contracts and the continuous investment in new staff and training of personnel who enable future growth. The number of professionals that could not be used in the project ("bench warmers") is higher.

Application of the IFRS rules in the take-over of FGN Beheer has resulted in a large goodwill fund at DPA Flex of ¤ 45 million. However, the appraisal of FGN Beheer amounted to ¤ 22 million. In order to neutralize this difference, DPA Flex has applied a one-off depreciation (impairment) of ¤ 23 million. This one-off adjustment has no effect on the EBITDA of DPA Flex, but does influence the net profit and profit per share. If the impairment is left out of consideration, the net profit will amount toand profit per share.x ional and are less productive h. contracts, the strong ¤ 860 thousand, an increase of 117% in relation to the combined organization in the first six months of 2005.

The running costs, separate from the depreciation, have increased by 16% in relation to sales, from ¤ 6 million to ¤ 6.9 million. To be able to realize the intended synergy advantages, cost-wise, a number of structural changes were initiated in May 2006. These changes will lead to an improvement in efficiency which in its turn will have a positive effect on the gross margin. The margin development shows a clear trend of improvement in the first six months of 2006; a trend which is expected to continue in the second half of 2006.

Master contracts During the last six months various new master contracts have been concluded for the supply of recruitment and secondment services in both existing and new markets. Six of these contracts have been entered into with central government organizations; the Ministry for Housing, Regional Development and the Environment (VROM), the information services section of the Ministry of Defence (Bedrijfsgroep Informatievoorziening), a combination of the Ministry of Health, Welfare and Sports (VWS) and the Ministry for Social Affairs and Employment (SZW) and an extension of another major ministry. The first three master contracts concern a 'preferred supplier' status for the secondment of ICT professionals and the last mentioned concerns the secondment of finance professionals. These contracts have been concluded for the duration of two or three years. For the coming two years, DPA Flex has been selected by the Ministry of Education, Cultural Affairs and Science (OCW) to be one of the suppliers of secondment of legal specialists and by DTO (Defence Telematics Organization) for ICT recruitment. A contract with ABN AMRO Bank has opened up a new market sector for DPA Flex's secondment services. The agreement concerns a one-year contract which supplies DPA Flex with the total demand for interim professionals within the mortgage company. Finally, the preferred supplier agreement with De Goudse endorses the multidisciplinary supply of DPA Flex. DPA Flex fulfils the demand of De Goudse for temporary expertise within the financial, HR and project management position.

Expectations and developments According to CBS (Dutch central statistical office), the total temporary job and secondment sales are still on the increase; in the first four months of 2006 with an average of 21%. The first signs of economic recovery in 2005 have made place for a upturn of the economy in 2006. For the whole of 2006, DPA Flex is expecting an increase of their sales of between 20 and 30% in relation to the combined sales of ¤ 61.3 million in 2005. In addition, DPA Flex expects a further improvement of the gross margin. The development of demand is showing a positive image for the future months of 2006 financial, HR and project management functiont , but on the supply side DPA Flex is dealing with a shortage of qualified workers. Clients increasingly want to hire people, but at the same time they want to offer their personnel permanent contracts. The demand for recruitment and selection is increasing with the number of jobs. The combination of a picking-up economy and the dejuvenation/ageing of the population is making it harder and harder to find skilled staff. In order to anticipate on this, DPA Flex has taken a number of precautions. The supply of subcontractors is continuously being expanded, but must remain in proportion in relation to the pool of professionals with a permanent or project-based contract. Furthermore, trainees are hired and put through an extensive training route in order to meet the future demand.


DPA Flex Group NV (former DPA Holding N.V.) is a multidisciplinary service provider listed on the Next Prime of Euronext.

Under the names DPA Flex and DPA Supply Chain People, the operating companies focus on the total demand for temporary knowledge and personnel capacity within companies and institutions. The organization has a leading position in the secondment of professionals in Finance and ICT and is strongly present within the disciplines of HRM, Legal, Supply Chain and Management & Strategy.

DPA Flex is active in the Netherlands and Spain, and aims to lead the market in the field of providing comprehensive solutions for staff flexibility in companies and institutions.

For the comprehensive six month report, please click www.dpaflex.comir

Note to the editors (not designed for publication):

For more information: Peter Smit, CEO +31 (0)20-515 15 55 / +31 (0)6-53 53 54 21

Marc Zuidhof, Director of Finance +31 (0)20-515 15 55 / +31 (0)6-46 41 20 00 Agenda August 24, 2006 Analyst meeting

Visiting address Thomas R. Malthusstraat 3-B 1066 JR Amsterdam The Netherlands

Postal address Postbus 9396 1006 AJ Amsterdam The Netherlands Telephone: +31 (0)20 51 51 555 Fax: +31 (0)20 51 51 552 E-Mail: investorrelations@dpaflex.com Internet: http://www.dpaflex.com/ir

August 24, 2006 / DPA Flex Group N.V.