Fact Sheet

Codes and classification
ISIN	FR0000072084	Mnemo	GLT
Euronext code	FR0000072084
Market	EURONEXT PARIS – Euronext – Local Securities
Type	Stock – Ordinary stock – Continuous
	Compartment B (Mid Caps)
CFI	ES

Fact Sheet

ICB sectorial classification

Industry: 9000, Technology
SuperSector: 9500, Technology
Sector: 9530, Software & Computer Services
Subsector: 9537, Software
Personal equity saving plan eligibility: Yes

Deferred Settlement Service: No

Trading currency: EURPrice Multiplier: 1.0
Quantity notation: Number of units
Timelag between CET and regulator time: 00:00
Trading Group 16
Total number of shares: 9,560,742
Capitalisation (€): 384,150,613.56 (20/08/08 16:40 CEST)

Indices weighting
INDICE GEN.SBF250	0,01 %
IT.CAC	0,10 %
CAC ALL SHARES	0,02 %
CAC MID & SMALL190	0,18 %
CAC SMALL90	1,53 %
CAC TECHNOLOGY	0,43 %
CAC SOFT. & C. S.	0,87 %

Dividends

Since GL TRADE’s IPO, the company has paid shareholders annual dividends equivalent to 40%-50% of its consolidated net profit.

Dividend payments for 2000 to 2007 were as follows:

Year	Total Payment (€)		Par action (€)
		Net Dividend	Fiscal	Global
2003	7,236,801.60	0.70	0.35	1.05
2004	9,531,275.00	1.00	0.00	1.00
2005	13,408,417.40	1.40	0.00	1.40
2006	10,561,343.10	1.10	0.00	1.10
2007	12,493,339.30	1.30	0.00	1.30

Q&A

When and by whom was the company created?
GL TRADE was created in June 1987 by Louis-Christophe Laurent and Pierre Gatignol.X

What is its legal status?
GL TRADE is a Limited Liability Company.X

What is its sector of activity?
IT/Financial Services. GL TRADE provides the financial community with a full range of integrated software solutions to manage the entire financial transaction process.X

How many offices does GL TRADE have worldwide and how many employees?
26 offices abroad and over 1,400 employees (more than 70% outside France).X

What portion of turnover is invested in R&D?
GL TRADE invests 13% of its revenues in R&D. Research and development represents 550 people worldwide. 160 people are based in near-shore development centres in Tunis and Belgrade.X

Where is GL TRADE listed?
GL TRADE was introduced on the Nouveau Marché on February 16, 1999 (Euroclear code 7208). GL TRADE is now part of the Eurolist on Euronext.X

What are GL TRADE’s strengths?

Recurring business model: most revenues are derived from 2-year licensing subscriptions and in total over 80% of GL TRADE’s turnover is recurring.
A resilient model even under difficult market conditions due to global and competitive solutions.
Know-how based on 20 years of experience.
Great importance placed on client relationships and a mature sales network, 26 offices worldwide.
Large research and development teams (13% of turnover dedicated to R&D).
The ability to adapt to market and client needs.

Who are our clients? Where are they located?
GL TRADE serves over 1,600 clients globally, including from brokers to investment banks and comprises corporates and hedge funds.X

What is GL TRADE strategy for external growth?
GL TRADE is pursuing an external growth policy for the following reasons:

To consolidate and expand its position as a global player.
To expand its product range, create new products, save time in developing new products.
To promote GL TRADE’s technology in different countries worldwide.

Events Calendar

2007 turnover	January 30, 2008*
2007 Definitive Results	March 10, 2008*
Analysts Presentation	March 19, 2008
2008 first quarter turnover	May 6, 2008*
Shareholders Meeting	June 26, 2008
2008 first half turnover	July 30, 2008*
2008 first half results	August 27, 2008*
Analysts meeting	August 28, 2008
2008 third quarter turnover	November 5, 2008*

* After Paris market closing

Financial Documents

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Corporate Governance

The Board of Directors
The Board of Directors supervises the management of the Group and its accounts. It reviews all major investment proposals and issues the various authorizations required by law or our own by laws.

The Board has four members:

Pierre GATIGNOL, Chairman
Louis-Christophe LAURENT
Serge HARRY (of Euronext Paris SA)
EURONEXT Paris SA

Senior Officers:

Pierre GATIGNOL, Executive Chairman
Louis-Christophe LAURENT, Deputy Managing Director
Yassine BRAHIM, CEO and Deputy Managing Director, appointed in 2007
Frédéric MORIN, Deputy Managing Director

Group Managing Board (GMB)
Since September 2006, the GMB is responsible for the Group’s operational management and consists of:

Pierre GATIGNOL, Executive Chairman
Yassine BRAHIM, CEO
Vincent BURZYNSKI, Group Marketing and Products Director
Philippe RAPP, Strategic Development Director
Karoline RAETS, Human Resources Director
Laurence SAUNIER, Chief Financial Officer

Pierre GATIGNOL, Vincent BURZYNSKI, Karoline RAETS and Laurence SAUNIER are based in Paris. Yassine BRAHIM and Philippe RAPP are based in London. The GMB meets every fortnight, alternating between London and Paris.

X
Extended Group Managing Board (GMB+)
In addition to the GMB, this committee includes the Regional Directors and takes part in strategic decision-making. The GMB+ meets quarterly.

X
The Group Executive Committee (G50)
The GEC comprises the Group’s 50 leading managers, including the GMB+. It meets semi-annually to share information and to study operational and management issues.

Key Figures

Shareholders Structure
GL TRADE SA’s shareholders structure as of 31 March 2008

5 year turnover Growth

GL TRADE has experienced sustained growth over the past 5 years. The subscription-based business model of the company enables the group to maintain recurring income that is sheltered from market fluctuations.

Geographical Split

GL TRADE is present on all major electronic financial markets and on markets with a high growth potential: 80% of GL TRADE’s turnover was generated outside France in 2007.

Turnover by Product Line

GL TRADE provides software solutions to cover the entire order flow from front to back office for buy and sell side: Trading & Order Management, Treasury and Risk Management, Settlement, Networking and Market Data.

Profit & Loss Account

€m	31.12.07	31.12.06	% change
Turnover	203,3	184,8	+10%
EBITDA	39,5	36,6	+8%
Operating profit before goodwill Operating margin (%)	35,4 17,4%	32,9 17,8%	+8% -
Operating income EBIT/Turnover	34,6 17,0%	30,8 16,7%	+12% -
Net profit	23,8	19,6	+22%
Group net profit	23,7	19,5	22%
Earnings per share (group share)	2,47	2,03	22%

Balance Sheet

Assets (€m)	31.12.07	31.12.06
Intangible assets	131,2	79,3
Fixed assets & others	16,3	13,5
Trade & others	63,6	63,1
Cash	23,4	36,8
Total Balance	234,4	192,7

Liabilities (€m)	31.12.07	31.12.06
Shareholders’ equity	64,7	56,6
Minority interests	1,0	0,9
Non current liabilities: Financial debt > 1 year Others	33,3 27,6 5,7	17,2 15,8 1,4
Current liabilities: Financial debt > 1 year Trade & other payables Deferred revenues	135,4 23,0 54,4 58,0	118,0 7,4 49,8 60,8
Total Balance	234,4	192,7