euro adhoc: phion AG / Annual Reports / First half year at phion AG sees an ongoing massive market expansion

--------------------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
--------------------------------------------------------------------------------

6-month report

25.11.2008

First half year at phion AG sees an ongoing massive market expansion:

- phion approaches the 5 million sales mark
- Results continue to be affected by costs of internationalisation
- Integration of Visonys into phion AG completed

Innsbruck, 26 November 2008 - During the first half of the current
financial year 2008/09, sales at phion AG, listed on the mid market
of the Vienna Stock Exchange (ISIN AT0000PHION3), increased by more
than 30% compared to the same period last year. With net revenues of
4,987,000 Euros, the Tyrolean IT security supplier almost reached the
5 million Euro mark (first half year 2007/08: 3,800,000 Euros).

As already outlined at the last Annual Shareholder´s Meeting, the
company´s income continues to be affected by the costs of
internationalisation, including the corresponding recruitment of
personnel. The company can count on substantial contribution margins
from the new markets but not for 12 to 15 months at the earliest. In
addition to the home markets Austria, Switzerland and Germany, phion
is well on its way to establishing itself in Italy, England, the
Benelux countries, in several Eastern European countries, as well as
in the Middle East.

In the first half year, EBITDA amounts to -1.2 million Euros. After
depreciation of 0.6 million Euros, EBIT totals to -1.8 million Euros
(first half year 2007/08: -0.1 million Euros). EBT is -1.7 million
Euros.

After the acquisition of Visonys, the Swiss supplier of IT security
solutions, phion´s balance sheet remains very strong, with an equity
ratio of more than 63% and cash and cash equivalents of almost 6
million Euros. Visonys has already been integrated into phion and all
products (for example one of the world leading web application
firewalls) are being offered under the phion brand.

Based on experience, phion´s management expects the second half of
the financial year to be stronger than the first half. However, due
to general insecurity about future economic development, prolonged
decision-making on the part of customers regarding investments is
already perceivable. To what extent planned investments in corporate
security architecture will actually be postponed as a consequence of
the expected global recession, cannot be foreseen at this time.

Development phion AG in 4-9/2008, compared to 4-9/2007

4-9/2008 4-9/2007
Sales (in TEUR) 3,800 4,987
EBITDA (in TEUR) -1,222 321
EBIT -1,849 -65
EBT -1,703 71

On www.phion.com, you will find the half year report 2008/09 for
download in German and in English.

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: phion AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Dr. Wieland ALGE, CE0 phion AG,

Eduard-Bodem-Gasse 1, 6020 Innsbruck

Tel. +43 (0)508 100

E-Mail: w.alge@phion.com

Branche: Computing & Information Technology
ISIN: AT0000PHION3
WKN:
Index: mid market
Börsen: Wiener Börse AG / Regulated free trade