Acquisition

Velti PLC 23 March 2007 FOR IMMEDIATE RELEASE Friday, 23 March 2007 VELTI ACQUIRES BULGARIA's LEADING MOBILE SERVICES PROVIDER LONDON - Velti plc ('Velti' or 'the company'), a leading provider of software platforms, applications and services for advertising agencies and mobile operators, has agreed to acquire a 100% interest in M-Telecom OOD ('M-Telecom') for a total consideration of between €1.01 million and €2.56 million depending on M-Telecom achieving certain profitability targets for 2007 and 2008. The total consideration will be calculated at a multiple of 4.5 times EBITDA. The initial consideration of €0.48 million will be satisfied in cash on completion and the remaining payment will be made in cash or Velti ordinary shares (at the company's discretion) by 30 May 2009. M-Telecom is the leading independent mobile value added services provider in Bulgaria with an estimated market share of approximately 40%. Its product offering includes mobile marketing and content services. M-Telecom's largest customer is M-Tel, Bulgaria's leading mobile network operator. The acquisition of M-Telecom complements Velti's existing relationship with COSMOTE which owns Globul, Bulgaria's second largest mobile network operator. M-Tel and Globul account for approximately 90% of the Bulgarian mobile market. For the year ended 31 December 2005, the latest published statutory accounts, M-Telecom generated revenues of approximately €580,000 and EBITDA of approximately €100,000. For the year ended 31 December 2006, management accounts show that M-Telecom generated revenues of approximately €770,000. The company expects that M-Telecom will make a positive contribution to earnings per share for 2007 and 2008 on a fully diluted basis. The acquisition of M-Telecom establishes Velti's leadership position in the Bulgarian mobile value added services and mobile marketing market, providing Velti with the opportunity to generate additional revenue by selling its mobile platforms to Bulgarian mobile network operators and advertising agencies. The top management of M-Telecom, including Mr Stoytcho Vlaykov (Managing Director), a former Mobile executive for Yahoo, will remain with the company for a minimum of two years. Stoytcho Vlaykov, Managing Director of M-Telecom, commented: 'I am very excited that M-Telecom is joining forces with Velti, and we look forward to jointly serving mobile customers and operators in Bulgaria, providing premium mobile services and content.' Alexandros Moukas, Chief Executive of Velti, commented: 'This is a focused acquisition for Velti establishing us in Bulgaria in line with our stated strategy. M-Telecom is the leading Mobile Value-Added Services provider in Bulgaria with a respected management team and will enable us to grow rapidly and profitably in that market.' CONTACTS Bankside: 020-7367-8888 Simon Bloomfield or Andy Harris About Velti Velti is a leading platforms and service provider that enables mobile marketing, content and value added services. Velti works with mobile operators, advertising agencies and media to deliver value added services. Founded in 2000, Velti has offices in London, New York, Boston and Athens and is already serving more than 100 corporate customers in 9 countries including Vodafone, Orange, COSMOTE, TIM, Q-Telecom, OTE, Turkcell, Verizon / Maxpreps and Argos among others. Velti is a publicly traded company listed on the London Stock Exchange (AIM) with strong growth in revenue and profits and currently employs more than 180 people, including more than 110 technology staff. This information is provided by RNS The company news service from the London Stock Exchange
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