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Ad hoc: Brainpower N.V.
3rd Quarter Results for the Three Months Ended September 30, 2001 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. 3rd Quarter Results for the Three Months Ended September 30, 2001 Revenues up 130% over same period last year * Revenues totaled EUR 2.2 million (Q3 2000: EUR 960,000) * Recurring cash burn rate reduced by 20% with a cash balance of EUR 17.4 million * Cost reduction program shows positive results * EBITDA losses before restructuring costs narrow Rocco Pellegrinelli, Chairman and Chief Executive Officer of Brainpower, commented: "I am pleased to announce that during the quarter in which we celebrated our one-year anniversary as a public company, we were able to recognize revenues of EUR 2.2 million, an increase of 130 percent over the same period last year. Total revenue backlog booked ended the quarter at EUR 9.2 million. Brainpower has also succeeded in reducing recurring cash burn rate by EUR 600,000 and, excluding exceptional items, narrowed our net losses slightly for the second quarter in a row." "These respectable results were reached despite the normal European summer lull and the difficulties faced by many large financial institutions as a result of a global economic slowdown and the September 11 terrorist atrocities in the US. In response to these pressures we felt it prudent, however, to commence a far- reaching cost reduction program." Bill Holwell, Chief Financial Officer, commented: "EBITDA losses (earnings before interest, taxes, depreciation and amortization) before restructuring costs were EUR 1.9 million for the third quarter, a significant improvement over the EBITDA loss of EUR 2.4 million in the second quarter. This supports our business model and will continue to improve as revenues rise and the benefits of our cost cutting program are realized." "We ended the quarter with a strong cash and cash equivalents position of EUR 17.4 million, and given our improved cash burn rate will see us achieve our EBITDA breakeven target of 4th quarter 2002. Shareholders equity as of September 30, 2001 was EUR 18 million. The loss of EUR 2.3 million for the quarter, excluding EUR 0.9 million restructuring costs and a EUR 0.1 million loss on investments, compare favorably to EUR 2.4 million in the second quarter."

For further information see: http://www.brainpowerweb.com Or contact: Curtis E. Fox Director, Communications & Investor Relations Brainpower N.V. Tel : [phone] email: [e-mail] end of ad-hoc-announcement (c)DGAP 02.11.2001 WKN: 553169; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Hamburg, Hannover, Düsseldorf, Stuttgart und München