*

Hitt og þetta 20. september 2006

Hugin Ad hoc update according to § 15 WpHG: Interim report: Wapme Systems AG: Wapme System

Restructuring measures taking effect +++ Distinct improvement in result compared with previous year +++ Introduction of new products +++

*** Dies ist lediglich nur die englische Fassung der Ad-hoc-Meldung vom 30.08.2006, die bisher nur in deutscher Sprache veröffentlicht wurde. *** This is only the English Version of the Ad-hoc- announcement from 30.08.2006, because the announcement was only published in German Language.***

Düsseldorf, 30.08.2006 - During the second quarter of the current financial year, Wapme Systems AG achieved total sales of T¤ 5,960 (previous year: T¤ 36,216) and an operating result (EBITDA) of T¤ -1,651 (previous year: T¤ -2,608). The result before tax and interest (EBIT) was at T¤ -2,207 (previous year: T¤ -3,341).

With a distinctly improved result in comparison with the previous year, the recapitalisation measures initiated by the Executive Board are beginning to take effect. Thus, the other operating costs of the group could be reduced by T¤ 784, from the comparison period. The effects from the reduction of the work force already initiated during the first quarter in the Administration and Development divisions, is clearly reflected by the reduced personnel costs (T¤ 1,287).

Nevertheless, the restructuring of the entire group that has been initiated has not yet been completed. A series of financing measures were able to get off the ground. The current placement of the convertible bond 2006/2011 has not yet been completed. The stock exchange price, which is quoted below the nominal price, makes the implementation of classic corporate actions difficult, especially in the field of institutional investors.

Notwithstanding this, the company was able to introduce a range of new, innovative products during the second quarter and conclude cooperations with well-known partners throughout Europe, such as TIM w.e. and StarTV. Overall, the existing mobile entertainment range was supplemented with solutions for auctions, games and betting. A new solution for mobile marketing is currently in the testing phase and will first be used in retail. With this service, the business customers will be provided with a solution for targeted marketing that takes individual consumer behaviour into account.

Unaffected by the comments, the company will continue the recapitalisation and restructuring measures in order to form a good basis for structuring the future of the company.

The full half-year report is available to download at www.wapme-group.de.

The Executive Board

For further information, please contact: Wapme Systems AG Olivia Lindisch Vogelsanger Weg 80 D-40470 Düsseldorf Tel.: +49.211.74845.2710 Fax: +49.211.74845.299 E-mail: ir@wapme-group.de www.wapme-group.de

--- End of Ad-hoc Message --- WKN: 549550; ISIN: DE0005495501; Index: CDAX, Prime All Share, TECH All Share; Listed: Freiverkehr in Börse Berlin Bremen, Freiverkehr in Börse Düsseldorf, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Niedersächsische Börse zu Hannover, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Stuttgart, Prime Standard in Frankfurter Wertpapierbörse, Geregelter Markt in Frankfurter Wertpapierbörse;