Strong operating performance in key markets as recovery momentum builds

LBi - the global digital marketing and technology agency today announces its
fourth quarter and year-end results 2009



Fourth quarter highlights


Net sales came in at EUR 34.6 million, an increase from EUR 33.8 million during
the third quarter 2009, reflecting continued
progress at both management and operational level across key markets

Adjusted EBITDA for the fourth quarter 2009 was EUR 5.0 million; EBITDA margin
14.4%

Strong performance in UK: EBITDA 27% quarter on quarter improvement realising a
margin of 23%; US performance
delivered adjusted EBITDA of EUR 2.0 million, a quarter on quarter improvement
of 82%

Central and Southern Europe significantly underperformed relative to a very
strong result in Q4 2008
We are confident of making good steady progress throughout 2010.

Strong operational cash flow EUR 10.9 million

Earnings per share in the fourth quarter came in at EUR 0.08 (0.07) and for the
full year EUR -1.03 (0.15). The board
proposes that no dividend payments are made for 2009

Announced merger with Obtineo will create largest marketing and technology
agency in Europe, uniquely positioned
to drive further consolidation in the industry


Financial highlights
+------------------------+-----+-----+---------+-----+-----+---------+
|EUR million             |Oct- |Oct- |Change at|Jan- |Jan- |Change at|
|                        |Dec  |Dec  |constant |Dec  |Dec  |constant |
|                        |2009 |2009 |rates*   |2009 |2008 |rates*   |
+------------------------+-----+-----+---------+-----+-----+---------+
|Net sales               |34.6 |39.0 |-11.2%   |137.5|160.4|-11.5%   |
+------------------------+-----+-----+---------+-----+-----+---------+
|EBITDA                  |3.9  |5.6  |         |12.9 |21.3 |         |
+------------------------+-----+-----+---------+-----+-----+---------+
|EBITDA adjusted**       |5.0  |5.6  |-15.7%   |18.1 |19.9 |-10.6    |
+------------------------+-----+-----+---------+-----+-----+---------+
|EBITDA margin adjusted**|14.4%|14.2%|         |12.4%|13.4%|         |
+------------------------+-----+-----+---------+-----+-----+---------+
|Impairment              |-    |-    |         |-68.9|-    |         |
+------------------------+-----+-----+---------+-----+-----+---------+
|EBIT                    |2.5  |3.6  |         |-63.1|12.5 |         |
+------------------------+-----+-----+---------+-----+-----+---------+
|Net result              |4.9  |4.4  |         |-63.1|9.5  |         |
+------------------------+-----+-----+---------+-----+-----+---------+
|Earnings per share      |0.08 |0.07 |         |-1.03|0.15 |         |
+------------------------+-----+-----+---------+-----+-----+---------+
(*  Change rates reflects year-on-year comparisons, adjusted for exchange rate
fluctuations)
(** January-December 2009 excludes EUR 4.7 million restructuring costs  and EUR
0.5 million related to prior years acquisitions, divestments and liquidation of
entities in Italy, Belgium and United Kingdom.  January-December 2008 excludes a
EUR 1.4 million non cash gain during Q1 2008 on dissolvement of three dormant
entitities in the Netherlands, whose businesses have been transferred to LBi
Lost Boys. )


A word from the CEO
2009 was a dynamic and challenging year for LBi as the business continued to
suffer the adverse effects of the global economic crisis. In the first part of
the year we experienced lower demand and slower decision-making on the client
side.  In the second half we saw demand for our services gradually increasing
again. We ended the fourth quarter with group results that reflect the
significant progress we have made at both a management and operational level
across  key markets. At the same time, we continued to extend our service
offering and further improved the quality of services, both of which have
contributed to the gradual recovery of our group EBITDA margin to pre-crisis
levels.

 In particular, we made significant operational improvements in two of our key
regions, the UK and US, over the year. For the UK this resulted in an EBITDA
margin of 23% percent and a growth in EBITDA of 14% (at constant rates) over the
same period last year, a great performance in challenging business conditions.
The US delivered an 82% (at constant rates) increase in EBITDA and a 21% EBITDA
margin in the fourth quarter.

 The evolution of the business across our Central and Southern European region
is more tentative. While our digital operations in Germany have grown
significantly quarter on quarter, the branding specialist MetaDesign continues
to under-perform relative to expectation. MetaDesign is the most cyclical part
of our business. We anticipate a strong recovery this year based on improvements
in the weighted pipeline, better sector coverage and an acceleration in
automotive spend from a historic low. Other markets in Central Europe performed
broadly in line with expectation and we anticipate further improvement in 2010.

 In the Nordic region we have struggled to rebuild revenues and, as a
consequence, we have changed the management structure at both a regional and
country market level. We also recently completed the acquisition of Triple
Copenhagen, which is a significant step in our plan to revitalise top-line
growth for the entire region. The new management team will take over day-to-day
operations in Copenhagen, strengthening our strategic capabilities in the entire
region and further expanding our position as market leader in the Nordics.

 Outside Europe we continue to expand our footprint organically. In the last
quarter we opened  larger offices in both Beijing and Dubai to satisfy growing
demand for our services.

 Finally, I am delighted that we recently announced that LBi and Obtineo will
shortly merge to form Europe's largest marketing and technology agency. Obtineo
delivers sizeable funding and, most significantly, Europe's pre-eminent search
engine marketing company, Bigmouthmedia. The new combination will have over
1800 people across 15 countries and a new primary listing on NYSE Euronext in
Amsterdam. The new company will have a fully integrated digital marketing
offering and is uniquely positioned to benefit from the trend for blue chip
clients to demand a single agency to service both their digital customer
acquisition and retention requirements.

 The newly-obtained funds provided by Obtineo and the anticipated additional
funds of the underwritten rights issue will be used primarily to extend our
global service offering, particularly in the US and Asia where we see the most
compelling growth opportunities for the years to come.

Luke Taylor, CEO



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