Long recognized by its
clients for delivering insights that enable confident business decisions, the
Company blends the science of innovative research with the art of strategic
consulting to deliver knowledge that leads to measurable and enduring value.V.
In connection with the Facility, we called for redemption all of our 12 %
Senior Notes due 2008 (the "Senior Notes"), which had an outstanding principal
amount of euro 103,655. We also incur
significant operating expenses for programming in U.
When analyzing results within the different categories of operations for
any particular period, the sums of the individual items reported within each
category may differ from the total reported for such category .4% in the second quarter of 2004 and 2005, respectively.
Depreciation and amortization expenses expressed as a percentage of net
revenues were 3. In the second quarter of 2005, we defeased the remaining
outstanding Senior Notes and subsequently redeemed them on June 15, 2005. Excluding such
expenses , our station operating expenses increased euro 10,414, or 6%, mainly
due to our programming investments in Royal League, the new daily soap at TV2
and a co-produced Big Brother show in Norway and Sweden .1% in the first half of 2004 and 2005, respectively. The Swedish holding
company was used as the vehicle for the acquisition of C More and is the
current debtor of amounts drawn on the Facility .V. All rights reserved.

resettlement fellesraad

"Armed
with the comprehensive knowledge contained in these reports, manufacturers
will better understand the dynamic factors behind vehicle purchase decisions
among different ethnic backgrounds, and communications teams will be able to
more specifically tailor future messaging and advertising to effectively reach
desired target audiences.novatris. Since 1926, car buyers and sellers have relied upon
Kelley Blue Book for authoritative and unbiased information to make

well -informed automotive decisions. Differences are
primarily attributable to corporate charges, eliminations between categories
and items attributable to entities that are not separately disclosed but are
included within the totals for the different categories.1% 0.

Station Operating Expenses
Station operating expenses increased euro 31,877, or 29%, from euro
110,416 in the second quarter of 2004 to euro 142,293 in the second quarter of
2005.4% in the second quarter of 2004 and 2005, respectively. Excluding such expenses,
our station operating expenses increased euro 2,669, or 3 %, mainly due to our
programming investments in Royal League, the new daily soap at TV2 and a co-
produced Big Brother show in Norway and Sweden. These options are subject
to variable accounting treatment, unlike the rest of our share incentives.

Operating Income
Operating income increased euro 10,171, or 29%, from euro 34,899 in the
second quarter of 2004 to euro 45,070 in the second quarter of 2005.
The increase was mainly due to increased operating income of euro 3,994 at our
Dutch Television operations, mainly due to cost savings, and increased
operating income of euro 2,732 at our Hungarian Television operations driven
by growth in the Hungarian television advertising market.

Investment Gain
In the second quarter of 2005 we recognized the deferred gain of euro
2,902 recorded in 2002 on the sale of our equity interest in Publimusic (Radio
Noordzee ) to Talpa Management B. Our newly acquired
businesses, C More, Prima TV and the Romanian Radio stations , and the recently
launched television stations, The Voice TV, VijfTV and Irisz, had combined net
revenue of euro 54,448. Excluding our new businesses, our net revenue
increased euro 32,025, or 10%. Our Dutch Television
operations had decreased station operating expenses of euro 4,828, or 6 %.3%
and 18.

Operating Income
Operating income increased euro 12,881 from euro 32 ,377 in the first half
of 2004 to euro 45,258 in the first half of 2005. callers) or +1-973-341-3080 (International callers),
passcode 6234742. All other names, products, and
services mentioned are the trademarks or registered trademarks of
their respective companies.

femmine michif

"The AutoVIBES Ethnicity report series provides invaluable information for
automotive marketers by showing a complete picture of the influences and
issues affecting different ethnic groups," said Rick Wainschel, vice president
of marketing research and brand communications for Kelley Blue Book.com.58 0.
(4) Adjusted EBITDA margin is adjusted EBITDA expressed as a percentage of
net revenue. GAAP"). Excluding our new businesses, our net
revenue increased euro 13,892, or 7%.
Our Print operations had increased selling, general and administrative
expenses of euro 895, or 31%, mainly due to increased promotion activities to
increase the number of subscribers.
Non-cash compensation expressed as a percentage of net revenues was 0.

Depreciation and Amortization Expenses
Depreciation and amortization expenses increased euro 3,568, or 53%, from
euro 6,778 in the second quarter of 2004 to euro 10,346 in the second quarter
of 2005, mainly due to increased amortization expenses associated with
intangible assets recorded on the acquisitions of C More, Prima TV and the
Romanian Radio operations.

Corporate Expenses
Corporate expenses increased euro 3,039 from euro 6,903 in the first half
of 2004 to euro 9,942 in the first half of 2005, mainly due to an increase in
headcount and staff cost following the acquisition of C More, and due to
expenses related to Sarbanes-Oxley compliance work.

Foreign Exchange Gain (Loss)
Foreign exchange gain (loss) had a negative impact of euro 8,603, from a
gain of euro 726 in the first half of 2004 to a loss of euro 7,877 in the
first half of 2005.

Income Taxes
Income taxes decreased euro 436 from euro 7,033 in the first half of 2004
to euro 6,597 in the first half of 2005, mainly due to tax savings at Kanal 5
in Sweden related to the foreign exchange loss and interest on amounts drawn
on our Facility.
Adjusted EBITDA and adjusted EBITDA margin exclude depreciation and
amortization expenses in order to eliminate the impact of generally long-term
capital investments that cannot be significantly influenced by our management
on a short-term basis.
Cash used in investing activities increased euro 294,843 from euro 14,580
in the first half of 2004 to euro 309,423 in the first half of 2005 mainly due
to our investments in C More, Prima TV and the Romanian radio operations.com, or contact:

Investors: Press:

Michael Smargiassi Jeff Pryor Catriona Cockburn
Brainerd Communicators, Inc.00 ) 63,562 65,820
Additional paid-in capital 683,678 702,094
Accumulated deficit (394,965) (383,669)
Unearned compensation (1,376) (1,140)
Accumulated other comprehensive loss (5,953) (10,251)
Total shareholders ' equity 344,946 372,854
Total liabilities and
shareholders ' equity 790,747 1,015,136

SBS BROADCASTING SA
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(in thousands of euro)

Six months ended June 30,
2004 2004
Cash flows from operating activities:
Net income 14,224 11,296
Adjustments to reconcile net income to net cash
provided by operating activities:
Revenue recorded in exchange
for equity investments (916) (1,241)
Non-cash compensation 1,014 599
Depreciation and amortization 13,119 17 ,957
Equity in loss from unconsolidated subsidiaries 1,297 660
Non-cash interest expense 540 311
Foreign exchange loss (gain) on long-term debt (108) 9,470
Investment gain (2,789) (2,963)
Loss on extinguishments of debt 2,463 8,472
Deferred tax expense 4,611 5,386
Minority interest in income 2,348 3,970
Changes in operating assets and liabilities , net
of amounts acquired:
Accounts receivable 5 ,527 (18,947)
Accounts receivable, affiliates (286) (80)
Program rights inventory, net (16,197) 34,441
Other current assets (192) (1,134)
Other non-current assets (678) (41)
Accounts payable and accrued expenses (16,289 ) (5,122)
Deferred income (1,737) (12,695)
Other liabilities 1,598 (661)
Cash provided by operating activities 4,353 49,678

Cash flows from investing activities:
Proceeds from sale of short-term investments - 163
Cash capital expenditure (13,846) (15,289)
Payment for purchase of acquired business,
net of cash acquired (734) (294,297)
Cash used in investing activities (14,580) (309,423)

Cash flows from financing activities:
Proceeds from issuance of common shares 1,889 20,313
Proceeds from incurrence of debt - 270,187
Net change in restricted cash and cash in escrow (242) 914
Payment of long-term debt (18,424) (118,429)
Cash provided by (used in)
financing activities (16,777) 172,985

Effect of exchange rate changes on cash and cash
equivalents (281) (6,141)

Net change in cash and cash equivalents (27,285) (92,901)

Cash and cash equivalents , beginning of period 245,836 196,033
Cash and cash equivalents, end of period 218,551 103,132

SBS BROADCASTING SA
OPERATING RESULTS BY SEGMENT (UNAUDITED)

(in thousands of euro )

Three months ended Six months ended
June 30, June 30,
Television 2004 2005 2004 2005
Net revenue:
SBS6, NET5 and Veronica
(in the
Netherlands) 57,681 59,046 99,594 103,137
TV2 + Irisz (in Hungary) 28,700 33,477 45,259 53,733
Kanal 5 (in Sweden) 23,236 27,954 43,384 51,523
VT4 + VijfTV (in Belgium ) 17,443 17,817 31,433 33,314
TV Norge (in Norway) 14,141 16 ,856 25,397 31,542
TV Danmark
and Kanal 5 (in Denmark) 11,519 12 ,411 21,240 23,810
Prima TV (in Romania) - 3,205 - 4 ,160
The Voice TV - 678 - 1,468
Other 1,677 1,973 2,442 3,939
Total net revenue 154,397 173,417 268,749 306,626

Station operating expenses 94,512 104,635 183,291 206,012
Selling, general and
administrative expenses 19,949 23,035 39,284 46,751
Total operating expenses 114,461 127,670 222,575 252,763

Adjusted EBITDA 39,936 45,747 46,174 53,863

Premium pay
Subscriber fees and other revenue - 52,174 - 65,345
Operator service fees - (16,836) - (21,103)
Net revenue - 35,338 - 44,242

Station operating expenses - 22,569 - 29,379
Selling, general and administrative
expenses - 5,637 - 7,143
Total operating expenses - 28,206 - 36,522

Adjusted EBITDA - 7,132 - 7,720

Radio
Net revenue:

Sweden 5,010 4,872 8,269 8,115
Finland 4,461 4,350 7,386 7,443
Denmark 3,046 2,377 5,704 5,101
Norway 2,666 3,237 4,472 5,569
Romania - 1,807 - 2,356
Greece 1,326 1,651 2,359 2,610
Total net revenue 16,509 18,294 28,190 31,194

Station operating expenses 6,745 7,242 13,372 13 ,570
Selling, general and
administrative expenses 8,633 7,558 15 ,471 14,456
Total operating expenses 15,378 14,800 28,843 28,026

Adjusted EBITDA 1,131 3,494 (653) 3,168

Print
Net revenue 16,301 16,505 30,942 32,292

Station operating expenses 9,159 7,847 17,888 16,124
Selling, general and
administrative expenses 2,846 3,741 5,162 7,163
Total operating expenses 12 ,005 11,588 23,050 23,287

Adjusted EBITDA 4,296 4,917 7,892 9,005

Consolidated
Net revenue: 187,207 243,554 327,881 414,354
Adjusted EBITDA from operating
segments 45,363 61,290 53,413 73,756

Corporate expenses (3,466) (5,620 ) (6,903) (9,942)
Non-cash compensation (220) (254) (1,014) (599 )
Depreciation and amortization -
Television (4,094) (4,609 ) (7,968) (9,394)
Depreciation and amortization -
Premium Pay - (2,353) - (2,447)
Depreciation and amortization -
Radio (1,624) (2,395) (3,063) (4,136)
Depreciation and amortization -
Print (1,060) (989) (2,088) (1,980)

Operating income 34,899 45,070 32,377 45,258

com/DSF

About Datatel, Inc.

resettlement collects

com/europe) and Asia offices, its wholly-owned
subsidiary Novatris in Paris, France (http://www .

About Kelley Blue Book (kbb. Power and
Associates seven years in a row.

SBS Broadcasting SA Reports Second Quarter 2005 Results

Results, which are attached, are in thousands of euro (except share and
per share data) converted from local currencies. The following report should
be read in conjunction with the accompanying unaudited financial statements.
On May 12, 2005, we entered into a euro 325,000 secured syndicated
multicurrency revolving credit facility (the "Facility ") with ABN AMRO,
Citigroup Global Markets Limited, Deutsche Bank AG London and The Royal Bank
of Scotland plc, as lead arrangers.S.3% 0.3%
Operating income margin 18.6% 9 .0%

Three months ended June 30, 2005 compared to three months ended June 30,
2004

Net Revenue
Net revenue increased euro 56,347, or 30%, from euro 187,207 in the second
quarter of 2004 to euro 243,554 in the second quarter of 2005. Station
operating expenses expressed as a percentage of net revenues were 59.
Our Radio operations had increased station operating expenses of euro 497,
or 7%, mainly due to station operating expenses of euro 383 at the newly
acquired Romanian Radio operations.
Our Television operations had increased selling, general and
administrative expenses of euro 3,086, or 15%, mainly due to selling, general
and administrative expenses of euro 1,404 at our recently launched television
stations and Prima TV. Excluding such expenses, our selling , general and
administrative expenses increased euro 1,682, or 8%, mainly due to increased
marketing expenses at Kanal 5, TVNorge and TV2 related to the promotion of new
programming initiatives.
Despite operating losses of euro 3,929 at newly acquired Prima TV and our
recently launched television stations, The Voice TV, VijfTV and Irisz, our
Television operations improved operating income by euro 5,296 from euro 35,842
in the second quarter of 2004 to euro 41,138 in the second quarter of 2005.
The net revenue increased euro 37,877, or 14%, at our Television
operations mainly due to revenue of euro 7,850 at Prima TV and the recently
launched television stations, The Voice TV , VijfTV and Irisz.3% and 0. The measures also exclude non-cash compensation because
it does not reflect the operating results that we achieve from servicing our
customers.
Since its establishment, the Foundation has awarded nearly $4 million
in scholarships.
The Datatel Scholars Foundation administers the program in
cooperation with Datatel's client institutions.datatel.

emigrants bygdelag

When it comes to hybrid vehicles, the most likely group to consider a
vehicle in this category are Asian Americans (80 percent ) while only
66 percent of African Americans are open to considering a hybrid.

Financial highlights are as follows:

Three months ended June 30, Six months ended June 30,
2004 2005 % change 2004 2005 % change

(all in thousands of euro, except share and per share data)

Net revenue(1) 187,207 243,554 30% 327,881 414,354 26%
Adjusted
EBITDA(1)(2) 41,897 55,670 33% 46,510 63,814 37%
Operating
income(1) 34,899 45 ,070 29% 32,377 45,258 40%
Net income(3) 18,130 14,387 (21%) 14,224 11,296 (21%)

Net income per
common share
- basic 0.44 0.

Financial Statements
We prepare our financial statements in euro and in accordance with
accounting principles generally accepted in the United States ("U.

Results from Prima TV in Romania, through February 28, 2005, are not
included in the operations referred to above, but are included in equity
in income (loss) from unconsolidated subsidiaries.6% 18 . Selling, general and
administrative expenses expressed as a percentage of net revenues were 16. The majority of the loss in 2004 related to our investment in Prima TV,
which has been consolidated since March 1, 2005.

Net Income
Our net income decreased euro 3,743, from euro 18,130 in the second
quarter of 2004 to euro 14,387 in the second quarter of 2005, mainly due to
the non -recurring loss on the extinguishment of our 12% Senior Notes.
Our Print operations had increased net revenues of euro 1,350, or 4%,
mainly due to increased subscription income coming from an increase in
magazine prices.
Our Print operations increased income by euro 1,221, from euro 5,804 in
the first half of 2004 to euro 7,025 in the first half of 2005. The foreign exchange loss in the first half of 2005 mainly
comprises a euro 7,447 non-cash loss on amounts drawn on our Facility by our
Swedish holding company to fund the acquisition of C More. In the first half
of 2004, we redeemed euro 14,500 principal amount of our 12% Senior Notes. In
the first half of 2005, we defeased the remaining outstanding Senior Notes and
subsequently redeemed them on June 15, 2005. If the loss on extinguishment had not occurred in either 2004 or
2005, our net income would have increased by euro 3,081, or 18%. The increase was
primarily due to timing differences related to programming payments and the
improved operating performance of the Company.58 0.35
Net income per common
share - diluted: 0.
For more information on the Datatel Scholars Foundation, and a
complete listing of the 2005-2006 scholarship winners, please visit
www. For more than 25 years , Datatel has
exclusively focused on meeting the needs of colleges and universities,
helping institutions operate more efficiently so they may better serve
their constituents.

ukranian 1812

Harris Interactive serves clients worldwide through its United States,
Europe (http://www.harrisinteractive.5 million

SIX MONTHS

Net Revenue up by 26 %

Adjusted EBITDA improved by 37%

LUXEMBOURG, SBS Broadcasting SA
(Nasdaq: SBTV; Euronext Amsterdam N.V. Our newly
acquired businesses, C More, Prima TV and the Romanian Radio stations, and the
recently launched television stations, The Voice TV, VijfTV and Irisz, had
combined net revenue of euro 42,455. In the
second quarter of 2004, we redeemed euro 14,500 principal amount of our 12%
Senior Notes.
Our Premium pay operation, C More, had subscriber fees and other revenue
of euro 65,345 in the period March 8 to June 30, 2005. Excluding such
expenses, our station operating expenses increased euro 8,331, or 4%.
There are material limitations to using measures such as adjusted EBITDA
and adjusted EBITDA margin, including the aforementioned difficulties
associated with comparing these performance measures as we calculate them to
similar performance measures presented by other companies, and the fact that
these performance measures do not take into account significant items, such as
depreciation and amortization.com.

texel multiracial

com), based in Rochester,
New York, is the 13th largest and the fastest-growing market research firm in
the world , most widely known for The Harris Poll(R) and for its pioneering
leadership in the online market research industry.harrispollonline. No other medium reaches more in-market
vehicle shoppers than kbb.35

Weighted average
common shares 31,138 32,649 31,107 32 ,308

Cash provided by
operating
activities 15,764 37,966 4,353 49,678

Adjusted EBITDA
margin(4) 22. Our strong performance during the
second quarter was highlighted by the improved operating results of our
television stations in Hungary, Sweden and Norway as we benefited from new
programming initiatives and improving advertising markets.
In the discussions of the results for the three and six months ended June
30, 2005 compared to the three and six months ended June 30, 2004, we divide
our operations into four segments:

(1) "Television operations", which include:
* SBS6, NET5 and Veronica (in The Netherlands) and jointly referred to
as "our Dutch Television operations";
* TV2 and, since September 2004, Irisz (in Hungary) and jointly
referred to as "our Hungarian Television operations";
* Kanal 5 (in Sweden);
* VT4 and, since October 2004, VijfTV (in Flemish Belgium) and jointly
referred to as "our Belgian Television operations";
* TVNorge (in Norway);
* TvDanmark and Kanal 5 (in Denmark) and jointly referred to as "our
Danish Television operations";
* since March 1, 2005, Prima TV (in Romania);
* since August 2004, The Voice TV (in Denmark, Norway, Sweden and
Finland); and
* other related operations that are not material.4%
Non-cash compensation 0. C More reported net revenue of
euro 35,338, after deducting service fees of euro 16,836 paid to the cable,
satellite and other operators for carriage, marketing and subscriber handling
services. Our newly acquired businesses, C More, Prima TV and the Romanian
Radio stations , and the recently launched television stations, The Voice TV,
VijfTV and Irisz, had selling, general and administrative expenses of euro
9,878. Such improvements were
partly offset by losses of euro 3,237 at our recently launched television
stations, The Voice TV, VijfTV and Irisz.
To access the teleconference, please dial +1-973-321-1100 ten minutes
prior to the start time.sbsbroadcasting . If you
cannot listen to the teleconference at its scheduled time, there will be a
replay available through August 5, 2005 that can be accessed by dialing
+1-877-519-4471 (U.

resettlement emigrants

"We remain focused on implementing our growth strategy and seek to expand
the scope of our business, thereby further diversifying our revenue streams
while creating additional cash flows.

Romania
In June we increased our ownership in Prima TV in Romania to 100%,
following the purchase of the remaining 14% equity stake from our three former
Romanian minority partners for euro 2,200. Since March 1, 2005, we have
consolidated Prima TV's operations to reflect our controlling interest.
The consolidated statements of operations and balance sheet have been
prepared on the basis of a preliminary purchase price allocation of the
acquisitions completed during the first quarter of 2005.3% 22. Our Dutch
Television operations had increased net revenue of euro 1,365, or 2%, mainly
due to an increase in call-TV revenues, which are generated when viewers pay
premium telephone rates to interact with programs.
Our Premium pay operation, C More, which was consolidated from March 8,
2005, had operating income of euro 4,779. Station
operating expenses expressed as a percentage of net revenues were 65.

Selling, General and Administrative Expenses
Selling, general and administrative expenses increased euro 15,596, or
26%, from euro 59,917 in the first half of 2004 to euro 75,513 in the first
half of 2005. Amortization also increased due to amortization of intangible
assets recorded on the acquisition of 49% of TVNorge in July 2004.

multiracial resettlement

For more information about AutoVIBES
or any forthcoming series of reports this year, or to purchase reports, please
contact Kelley Blue Book Marketing Research at 949-268-2756 or Harris
Interactive at 877-919-4765. Financing costs paid for the bridge
facility were refunded to us in full when we executed the Facility agreement . Any resulting balance sheet
translation adjustments are recorded as accumulated other comprehensive income
(loss) within shareholders' equity.

(4) "Print operations", which include the Veronica Magazine and the
Satellite Magazine in The Netherlands. We rely on this measurement, in
particular, to help plan and implement the expansion of our existing
businesses and the development of new revenue streams.0%
Selling, general and
administrative expenses 16. Excluding such
revenue, our Television operations had increased net revenue of euro 13,710,
or 9%, mainly due to increased net revenue of euro 4,777, or 17%, at our
Hungarian Television operations, due to an increased television advertising
market and increased viewing shares mainly driven by the introduction of a new
daily soap on TV2.

Selling, General and Administrative Expenses
Selling , general and administrative expenses increased euro 8,543, or 27%,
from euro 31,428 in the second quarter of 2004 to euro 39,971 in the second
quarter of 2005.

Equity in Loss from Unconsolidated Subsidiaries
Equity in loss from unconsolidated subsidiaries decreased euro 658, from
euro 721 in the second quarter of 2004 to euro 63 in the second quarter of
2005. until December 31, 2004 at an exercise price of $5 per share. Excluding such
revenue, our Television operations had increased net revenue of euro 30,027,
or 11%, mainly due to increased net revenue of euro 8,474, or 19%, at our
Hungarian Television operations, due to an increased television advertising
market and increased viewing shares mainly driven by the introduction of a new
daily soap on TV2.
Our Television operations had increased selling, general and
administrative expenses of euro 7,467, or 19%, mainly due to selling, general
and administrative expenses of euro 1,998 at our recently launched television
stations and Prima TV.

Equity in Loss from Unconsolidated Subsidiaries
Equity in loss from unconsolidated subsidiaries decreased euro 637, from
euro 1,297 in the first half of 2004 to euro 660 in the first half of 2005. Talpa sold the company in May 2005 causing the contingencies related
to our sale, which allowed Talpa to recover certain cash amounts depending on
the grant of certain broadcasting licenses, to lapse. Although other
companies in the broadcast industry may present other financial measures, or
calculate these measures differently than we do, we believe that adjusted
EBITDA and adjusted EBITDA margin may provide some comparability in analyzing
the operating performance of companies in our industry.sbsbroadcasting.32

Weighted average common
shares - basic 31,138 32,649 31,107 32,308

Weighted average common
shares - diluted 33,693 35,883 33,163 35,495

SBS BROADCASTING SA
CONSOLIDATED CONDENSED BALANCE SHEETS

(in thousands of euro)

December 31, June 30,
ASSETS 2004 2005
Current assets:
Cash and cash equivalents 196,033 103,132
Short-term investments 354 252
Trade accounts receivable, net of allowance for
doubtful accounts of euro 6,006
(euro 4,294 in 2004) 88,398 125,135
Accounts receivable , affiliates 1,475 1,788
Restricted cash and cash in escrow 2,451 1,792
Program rights inventory, current 117,544 124,075
Deferred tax assets, current 2,372 9,274
Other current assets 23,702 32,056
Total current assets 432,329 397,504

Buildings, improvements, technical and other
equipment, net of accumulated depreciation 41,256 43,147
Goodwill and other intangible assets, net of
accumulated amortization 245,274 495,100
Program rights inventory, non-current 62,928 61,808
Deferred financing cost, net of accumulated
amortization 2,600 4,685
Investments in and advances to unconsolidated
subsidiaries 5,972 3,564
Other assets 388 9,328
Total assets 790,747 1 ,015,136

Current liabilities:
Accounts payable 33 ,698 44,681
Accrued expenses 66,702 78,153
Program rights payable, current 46,674 64,070
Income taxes payable 3,763 3,956
Current portion of long-term debt 2,550 543
Deferred income, current 40,785 29,540
Deferred taxes, current 9,271 7,043
Other current liabilities 19,780 16,105
Total current liabilities 223,223 244,091

Program rights payable, non-current 22,651 23,811
euro 325 million revolving
multicurrency credit facility - 275,000
12% senior notes due 2008 103,655 -
Other long-term debt 6,784 867
Deferred tax, non-current 23,109 30,830
Other non-current liabilities 7,588 4,815
Minority interest 58,791 62,868
Shareholders' equity:
Common Shares (authorized 75,000,000 issued
32,909,890 (31,780,895 in 2004) at par
value euro 2. In addition , two $2,500 scholarships honoring
former long-time Datatel employee Nancy Goodhue Lynch were awarded to
two undergraduate students majoring in technology-related fields.

emigrants ukranian

Harris Interactive(R) Kelley Blue Book Release the 2006 AutoVIBES Ethnicity Series of Reports

The top-rated Web site provides the
most up-to-date pricing and values for thousands of new and used vehicles,
including the Blue Book(R) New Car Value, which reveals what people actually
are paying for new cars.com also has been named the
No. ("ABN AMRO") and then drew down euro 210,000
in order to finance in part our acquisition of C More.
We funded the redemption of the Senior Notes with funds drawn under the
Facility and we utilized the remaining amounts under the Facility and a
portion of our cash reserves to fully repay euro 210,000 and accrued interest
due under the euro 300,000 bridge facility with ABN AMRO . We had owned a minority stake in Prima TV since July
2001 and originally invested in Prima TV in March 2000.0%
Operating expenses:
Station operating expenses 59.0% 58.9% 11. Our Danish Television
operations had an increase in net revenue of euro 892, or 8%, mainly due to
increased viewing shares at Kanal 5 (Denmark) driven by the broadcast of the
Royal League and other sports programs. Excluding such
expenses, our station operating expenses increased euro 1,471 , or 1%.

Loss on Extinguishment of Debt
Loss on extinguishment of debt increased euro 6,009 from euro 2,463 in the
second quarter of 2004 to euro 8,472 in the second quarter of 2005.

The station operating expenses increased euro 22,721, or 12%, at our
Television operations , mainly due to programming expenses of euro 12,307 at
our recently launched television stations and Prima TV.2% in the first half of 2004 and 2005, respectively.4% in the first half
of 2004 and 2005 , respectively. Non-cash compensation expressed as a percentage of net
revenues was 0. The improvement
was mainly due to reduced losses in our Norwegian Radio operations, and
adjusted EBITDA of euro 844 and euro 1,102, respectively, in our newly
acquired Romanian Radio operations.

Forward -Looking Statements
Some of the statements in this press release are forward-looking,
including , without limitation: the statement that we remain focused on
implementing our growth strategy and seek to expand the scope of our business,
thereby further diversifying our revenue streams while creating additional
cash flows; the statement that with a strong balance sheet, including a new
bank facility that significantly lowers our cost of capital, we believe we are
well positioned to grow our core operations and capitalize on new
opportunities to increase shareholder value; and the statement that we expect
the final purchase price allocation in respect of the acquisitions completed
during the first quarter of 2005 to be completed during the third quarter. The web-cast will be archived on our web-site for two weeks.com

(C) 2005 Datatel, Inc.

michif refugees

5, Vinyl and Lugna Melodier (in Sweden) and jointly referred to
as "our Swedish Radio operations";
* KISS FM, Radio City, Radio Sata, Radio Mega, Radio 957, Radio
Jyvaskyla and Iskelmaradio (in Finland) and jointly referred to as
"our Finnish Radio operations";
* The Voice and Radio 2 (in Denmark) and jointly referred to as "our
Danish Radio operations";
* Radio 1 and The Voice (in Norway) and jointly referred to as "our
Norwegian Radio operations ";
* Since March 1, 2005, KISS FM and Radio STAR (in Romania) and jointly
referred to as "our Romanian Radio operations"; and
* Lampsi (in Greece). The following table
shows our operating expenses as a percentage of net revenues for the periods
indicated, as well as a reconciliation of adjusted EBITDA margin to operating
income margin.3% 18.3% 2.6% 4.
The net revenue increased euro 19,020, or 12%, at our Television
operations mainly due to revenue of euro 5,310 at Prima TV and the recently
launched television stations, The Voice TV, VijfTV and Irisz.

Kanal 5 and TVNorge had increased revenue of euro 4,718, or
20%, and euro 2,715, or 19%, respectively , mainly due to increased viewing
shares driven by new programming investments such as the Royal League
(Scandinavian football) and a co-produced version of Big Brother.
Our Print operations had decreased expenses of euro 1,312, or 14%, mainly
due to reduced printing cost. Our newly acquired businesses, C More, Prima TV and the
Romanian Radio stations, and the recently launched television stations, The
Voice TV, VijfTV and Irisz, had selling, general and administrative expenses
of euro 7,621. The Swedish holding company was used as the vehicle for the
acquisition of C More and is the current debtor of amounts drawn on the euro
325,000 Facility.

Income Taxes
Income taxes increased euro 970 from euro 6,782 in the second quarter of
2004 to euro 7. Our Dutch
Television operations had increased net revenue of euro 3,543, or 5%, mainly
due to an increase in the television advertising market in the first quarter
of 2005.1% and 2.
SBS is a European commercial television and radio broadcasting company
with operations in Western and Central Europe . Honoring soldiers
who have served in the military during combat, this scholarship now
provides a scholarship opportunity to soldiers who have served in
Operation Desert Storm, Operation Enduring Freedom, and/or Operation
Iraqi Freedom.

texel emigration

, The AutoVIBES Ethnicity series of
reports now are available from online vehicle market research leaders Harris
Interactive(R) and Kelley Blue Book Marketing Research, providing significant
insight into the diverse vehicle shopping preferences among three different
ethnic groups: African, Asian and Hispanic Americans.
Vehicle shoppers from different ethnic heritages also own and consider
diverse makes:

African Americans Asian Americans Hispanic
Americans

Top Makes Owned Ford, Chevrolet, Toyota, Nissan, Ford, Chevrolet,
Nissan, Toyota, Honda, Ford, Toyota, Honda,
Honda Chevrolet Dodge

Top Makes Toyota, Nissan, Toyota, Honda, Toyota , Honda,
Considered Chevrolet Honda, Nissan, Acura, Ford Nissan,
Ford Lexus Chevrolet

The complete set of AutoVIBES Demographic Reports consists of 14 separate
reports under three series categories: Ethnicity, Generation and Vehicle
Consideration.com), and through an
independent global network of affiliate market research companies.46 0.0% and
58.

Net Interest Expense
Net interest expense decreased euro 1,232, or 23%, from euro 5,258 in the
second quarter of 2004 to euro 4,026 in the second quarter of 2005. The
decrease was mainly due to the absence in the second quarter of 2005 of a euro
1,179 non-cash loss in the second quarter of 2004 on an interest rate swap
related to our 12% Senior Notes.752 in the second quarter of 2005, mainly due to increased tax
charges at our Dutch operations reflecting the increased profit compared to
last year.
Despite operating losses of euro 6,385 at our recently launched television
stations, The Voice TV, VijfTV and Irisz , our Television operations improved
operating income by euro 6,263 from euro 38,206 in the first half of 2004 to
euro 44,469 in the first half of 2005.

Loss on Extinguishment of Debt
Loss on extinguishment of debt increased euro 6,009 from euro 2,463 in the
first half of 2004 to euro 8,472 in the first half of 2005.S. The following table shows the changes in the
adjusted EBITDA by segment:

Three months ended Six months ended
June 30, June 30,
2004 2005 2004 2005

Television operations euro 39,936 euro 45,747 euro 46,174 euro 53,863
Premium pay operations - 7,132 - 7,720
Radio operations 1,131 3,494 (653) 3,168
Print operations 4,296 4,917 7,892 9,005
Cash corporate expenses (3,466) (5,620) (6,903) (9,942)
Adjusted EBITDA euro 41,897 euro 55 ,670 euro 46,510 euro 63,814

In the three months ended June 30, 2005, adjusted EBITDA increased euro
5,811, or 15%, at our Television operations, mainly due to improved results
from our Dutch and Hungarian Television operations. This marks a 12 percent increase in
scholarship awards over last year, reflecting the consistent rise in
scholarship applications. The Foundation is
tax-exempt , and supported by an annual grant from Datatel, gifts from
corporate friends, and contributions from Datatel employees.datatel.

immigrants resettlement

"

Study Findings:
Several differences can be found between different ethnic groups when it
comes to vehicle shopping.4% 65.9% 14. (Talpa). Our Danish Television operations had an increase in net revenue of
euro 2,570, or 12%, mainly due to increased viewing shares at Kanal 5
(Denmark) driven by the broadcast of the Royal League and other sports
programs.
Our Radio operations net revenue increased euro 3,004, or 11%, mainly due
to net revenue of euro 2,356 at the newly acquired Romanian Radio operations,
which we have consolidated from March 1, 2005. The increase was mainly due to
increased operating income of euro 6,347 at our Dutch Television operations,
mainly due to cost savings.
Our Premium pay operation, C More , which was consolidated from March 8,
2005, had operating income of euro 5,273.

Investment Gain
Investment gains in the first half of 2005, of euro 2,963, mainly comprise
the recognition of a deferred gain of euro 2,902 recorded in 2002 on the sale
of our equity interest in Publimusic (Radio Noordzee) to Talpa Management B.
Our Print operations improved adjusted EBITDA by euro 621 and euro 1,113
in the three and six months ended June 30, 2005, respectively. Some of these factors include: the
effects of, and changes in, regulation and government policy; the effects of
changes in general economic environment; the effects of changes in the
advertising and subscription spending growth; the effects of competition; our
ability to reduce costs; the timely development and acceptance of our new
channels, stations and/or services; the effects of technological changes in
broadcasting technology; and, our success at managing the risks that arise
from these factors .
For further information visit: http://www.40 0.43 0.

Datatel is a leading provider of fully integrated enterprise
information management solutions for higher education.

ukranian emigrants

The information in each
report is compiled from interviews with more than 20,000 in-market vehicle
shoppers during 2005 who are within 12 months of purchasing or leasing a new
vehicle, and provides detailed data and analysis regarding a variety of
purchase consideration factors.
EOE M/F/D/V
To become a member of the Harris Poll Online(SM) and be invited to
participate in future online surveys , go to http://www.8% equity interest.

Three months ended Six months ended
June 30, June 30,
2004 2005 2004 2005

Net revenue 100.0% 100.2% 4.

Corporate Expenses
Corporate expenses increased euro 2,154 from euro 3,466 in the second
quarter of 2004 to euro 5,620 in the second quarter of 2005, mainly due to an
increase in headcount and staff cost following the acquisition of C More, and
due to expenses related to Sarbanes-Oxley compliance work.4% and
64.3% in the first half of 2004 and 2005, respectively. In the first half of
2004 we recorded investment gains of euro 2,789 mainly reflecting an increase
in the fair value of 1.

Net Income
As a result of the foregoing, our net income decreased euro 2,928, from
euro 14,224 in the first half of 2004 to euro 11,296 in the first half of
2005, mainly due to the non-recurring loss on the extinguishment of our 12%
Senior Notes.
We provide below, on a consolidated basis, a reconciliation of the
non-GAAP measure adjusted EBITDA to operating income (loss), which is the most
directly comparable U.S.

bygdelag texel

1 automotive information site by Nielsen//NetRatings and J.S.
Our Radio operations net revenue increased euro 1,785, or 11%, mainly due
to net revenue of euro 1,807 at the newly acquired Romanian Radio operations .
Our Radio operations improved operating income by euro 1,592, from a loss
of euro 493 in the second quarter of 2004 to an income of euro 1,099 in the
second quarter of 2005, mainly due to reduced losses of euro 1,093 at our
Norwegian Radio operations. C More reported net
revenue of euro 44,242, after deducting service fees of euro 21,103 paid to
the cable, satellite and other operators for carriage, marketing and
subscriber handling services.

Adjusted EBITDA
We use the key indicator of operating income before depreciation,
amortization and non-cash compensation ("adjusted EBITDA"), along with
adjusted EBITDA margin, primarily to evaluate the group's and our individual
subsidiaries' operating performance, and for planning and forecasting future
business operations. Adjusted EBITDA should be considered in
addition to, but not as a substitute for, other measures of financial
performance reported in accordance with U. The change also reflected the proceeds of
euro 20,313 from 1,119,945 stock options exercised in the first half of 2005. For more information , please visit
www.

1812 bayou

AutoVIBES Demographic Reports are available for purchase by the individual
report, as a series or as an entire set. SECOND QUARTER

Net Revenue up by 30%

Adjusted EBITDA improved by 33%

Net income impacted by a non-recurring refinancing charge of euro 8.3% 22.4%

(1) Excluding the impact of our newly acquired businesses, C More, Prima
TV and the Romanian Radio operations, and the recently launched
television stations, The Voice TV, VijfTV and Irisz, net revenue
increased euro 32,025, or 10%, adjusted EBITDA increased euro 14,937,
or 32%, and operating income increased euro 14,235, or 44%, in the six
months ended June 30, 2005. dollars.

Operating Expenses as a Percentage of Revenue
We monitor our operating expenses as a percentage of our net revenue as
part of our cost management efforts .4% 18.1% 0.8%
and 16.6% and 4. The decrease was also due to the lower
interest rate (currently 2.

Other Expenses, Net
Other expenses, net, increased euro 186, from euro 825 in the second
quarter of 2004 to euro 1,011 in the second quarter of 2005, mainly due to an
increase of Hungarian municipality taxes, which are payable as a percentage of
revenues, and written-off project costs.

Net Interest Expense
Net interest expense increased euro 32, from euro 7,155 in the first half
of 2004 to euro 7,187 in the first half of 2005. GAAP, such as operating income
and net income. In the six months ended June 30,
2005, adjusted EBITDA increased euro 7,689, or 17%, despite losses of euro
6,015 at our recently launched television stations. The change mainly reflects the euro 275,000 drawn on our
Facility to fund the C More acquisition, net of the cash required to defease
and redeem the 12% Senior Notes.
These forward-looking statements include statements relating to our future
performance, competition, trends and anticipated developments in the
television and radio broadcasting, and publishing industry.
This year, new broader eligibility requirements allowed more
students to qualify for the Angelfire scholarship."
Datatel established the Datatel Scholars Foundation in 1990 to
perpetuate its long-standing commitment to higher education, and to
give back to Datatel's client base by focusing its philanthropic
efforts on scholarship awards .

bayou isola

Kbb. With a strong balance sheet, including
a new bank facility that significantly lowers our cost of capital, we believe
we are well positioned to grow our core operations and capitalize on new
opportunities to increase shareholder value. The
redemption premium plus deferred financing cost related to the Senior Notes,
euro 8,472, was recognized as a loss on extinguishment of debt in the three
months ended June 30, 2005. Balance sheet
accounts are translated from foreign currencies into euro at the period-end
exchange rates and statement of operations accounts are translated at the
weighted average exchange rates for the period.
Excluding such revenue, net revenue decreased euro 22, reflecting decreased
revenues in Denmark, Sweden and Finland and increased net revenue at our
Norwegian Radio operations and Lampsi. Amortization also increased due to amortization of
intangible assets recorded on the acquisition of 49% of TVNorge in July 2004. These
options are subject to variable accounting treatment, unlike the rest of our
share incentives.
(Talpa).7 million warrants that were exercisable into common
shares of Lions Gate Entertainment Corp. These key indicators provide investors the opportunity to
evaluate the group's performance as it is viewed by management. In addition , we
may make forward-looking statements in future filings with the Securities and
Exchange Commission , and in written material, press releases and oral
statements issued by us or on our behalf. Datatel is a
registered trademark of Datatel, Inc.

laos femmine

Studies Reveal Vehicle Shopping Preferences Among African, Asian
and Hispanic Americans

IRVINE, Calif.com.

About Harris Interactive(R)
Harris Interactive Inc. The company also reports vehicle prices
and values via products and services, including the famous Blue Book(R)
Official Guide and software products.1%
Depreciation and Amortization 3.
The station operating expenses increased euro 10,123, or 11%, at our
Television operations, mainly due to programming expenses of euro 7,454 at our
recently launched television stations and Prima TV.
Our Radio operations had decreased selling, general and administrative
expenses of euro 1,075, or 12%, mainly due to decreased third-party marketing
expenses at our Swedish, Danish and Norwegian Radio operations.3% in the second
quarter of 2004 and 2005, respectively. If the
loss on extinguishment had not occurred in either 2004 or 2005, our net income
would have increased by euro 2,266, or 11%. Kanal 5 and TVNorge had increased revenue of euro 8,139, or
19%, and euro 6,145, or 24%, respectively, mainly due to increased viewing
shares driven by new programming investments such as the Royal League
(Scandinavian football ) and a co-produced version of Big Brother.
Our Print operations had increased selling, general and administrative
expenses of euro 2,001, or 39%, mainly due to increased promotion activities
to increase the number of subscribers. Corporate expenses
expressed as a percentage of net revenues were 2. Forward-looking statements include
statements regarding our intent, belief or current expectations or those of
our officers (including statements preceded by, followed by or that include
forward -looking terminology such as "may," "will," "should," "believes,"
"expects," "anticipates," "estimates ," "continues" or similar expressions or
comparable terminology) with respect to various matters.

1850 emigration

These reports will be available in
May 2006.com)
Kelley Blue Book's kbb.9% 14 . We also benefited
from recent strategic investments, including our C More and Romanian
acquisitions and the launch of our new digital entertainment services. Currency translation adjustments relating
to transactions in currencies other than the functional currency of the entity
involved are reflected in the results of operations as foreign exchange gain
(loss).

(3) "Radio operations", which include:
* Mix Megapol, The Voice, Radio City, 106.
Our Premium pay operation , C More, had subscriber fees and other revenue
of euro 52,174 in the second quarter of 2005.9% and 2. In the second quarter of 2004 we recorded investment gains
of euro 2,789 mainly reflecting an increase in the fair value of 1.
Our Premium pay operation, C More, which was consolidated from March 8,
2005, generated adjusted EBITDA of euro 7,132 and euro 7,720 in the three and
six months ended June 30, 2005, respectively.
All forward-looking statements in this press release are based on
information available to us on the date hereof.

Conference Call
The Company will host a teleconference to discuss its results on Friday,
July 29, 2005 at 10:00 am New York Time , which is 4:00 pm Luxembourg Time. The teleconference will also be available via live
web-cast on our web-site, located at http://www.S.

Business Editors/Education Writers

FAIRFAX, Va .

maori isola

D.5 million of our 12% Senior Notes in the three and six months
ended June 30, 2004. We acquired C More on March 8, 2005 and,
accordingly, the results of operations have been reflected in our
consolidated financial statements since that date. From July 2001 until
February 28, 2005, we held a minority interest in the station and were unable
to exercise control over the operations.8% 16. Our newly acquired businesses, C More, Prima TV and the Romanian Radio
stations , and the recently launched television stations, The Voice TV, VijfTV
and Irisz, had station operating expenses of euro 30,406. Our Dutch Television
operations had decreased station operating expenses of euro 3,957, or 9%. Excluding such revenue, net
revenue increased euro 648, or 3%, mainly due to increased net revenue at our
Norwegian Radio operations arising from sales agreements with other radio
stations. Excluding such expenses, our selling, general and administrative
operating expenses increased euro 5,718, or 10%.

Non-cash Compensation
Non-cash compensation decreased euro 415 from euro 1,014 in the first half
of 2004 to euro 599 in the first half of 2005.

Three months ended Six months ended
June 30, June 30,
2004 2005 2004 2005

Operating income euro 34,899 euro 45,070 euro 32,377 euro 45,258

Add: Non-cash compensation 220 254 1,014 599
Depreciation 3,250 3,548 6,383 7,114
Amortization 3,528 6,798 6,736 10,843
Adjusted EBITDA euro 41,897 euro 55,670 euro 46,510 euro 63,814

Adjusted EBITDA increased euro 13,773, or 33%, for the three months ended
June 30, 2005 compared to the three months ended June 30, 2004, and euro
17 ,304, or 37%, for the six months ended June 30, 2005 compared to the six
months ended June 30, 2004 .
Cash provided by financing activities was euro 172,985 in the first half
of 2005, compared to cash used in financing activities of euro 16,777 in the
first half of 2004.----The Datatel Scholars
Foundation today announced it has awarded 316 scholarships totaling
$521,200 to outstanding students attending Datatel client institutions
for the 2005-2006 academic year. The Foundation provides scholarships to
eligible students currently attending Datatel client institutions. Datatel
assumes all administrative costs, so every dollar raised goes directly
toward scholarships to help students.

1825 ukranian

The Vehicle Consideration reports are offered by vehicle segment
including: Hybrid /Alternative Fuel Vehicles, SUV, Sedan, Truck, Minivan,
Luxury and Sporty/Performance/Convertible.

Each AutoVIBES Report contains detailed analysis of each group's:
* Make ownership, consideration and loyalty
* Vehicle segment ownership and consideration
* Reaction to new model launches: awareness, familiarity , favorability,
consideration, attribute ratings
* Key vehicle purchase decision factors
* Reliance on incentives: effects on timing of purchase, likelihood to
purchase in absence, dependency
* Effects of gas prices on purchase decision
* Hybrid engine attitudes
* Key safety factors
* Financial outlook for upcoming year
* Auto enthusiast level
* Detailed subgroup profile

AutoVIBES is a study resulting from a strategic alliance between Harris
Interactive and Kelley Blue Book Marketing Research, delivering timely and
insightful analysis tracking vehicle shopping trends on more than 30 new model
launches each month. Overall
responses and results from African American (n=958) Hispanic (n=1378) and
Asian American (871) respondents were not weighted. (http://www.com is America's most used and trusted vehicle
pricing, values and information resource.: SBS) today reported financial results
for the three and six months ended June 30, 2005.
(3) The net income for the three and six months ended June 30, 2005
include a loss on the extinguishment of our 12% Senior Notes of euro
8,472, compared to a loss of euro 2,463 on the extinguishment of
euro 14.

Commenting on the results, Markus Tellenbach, Chief Executive Officer of
SBS, said: "We continued to produce solid operating results and strong cash
flow generation across our asset base. The acquisition follows our
ownership increase in Prima TV to 86% in March, when we acquired an additional
48.2% 15.

Foreign Exchange Gain (Loss)
Foreign exchange loss increased euro 8,142, from euro 49 in the second
quarter of 2004 to euro 8,191 in the second quarter of 2005.

Six months ended June 30, 2005 compared to six months ended June 30, 2004

Net Revenue
Net revenue increased euro 86,473, or 26%, from euro 327,881 in the first
half of 2004 to euro 414,354 in the first half of 2005.
Our newly acquired businesses, C More, Prima TV and the Romanian Radio
stations, and the recently launched television stations, The Voice TV, VijfTV
and Irisz , had station operating expenses of euro 42,203.0% and 4. Management believes that when used in this fashion adjusted
EBITDA and adjusted EBITDA margin can be useful tools despite their
limitations . GAAP financial measure, for the three and six months
ended June 30, 2004 and 2005.44 0 .

multiracial 1850

The Generation series contains reports for Generation Y,
Generation X, Baby Boomers and Pre-Boomers and will be available in April
2006.com; one in every three American car buyers complete
their research on kbb.

(2) "Premium pay operation", which includes C More Group AB in Sweden,
Norway, Finland and Denmark.9% 2.1% 2. Our Belgian Television operations had
increased net revenue of euro 374, or 2%, mainly due to the launch of VijfTV.1% in
both quarters. Our Belgian Television operations had increased net revenue of euro
1,881, or 6%, mainly due to the launch of VijfTV.
Our Print operations had decreased expenses of euro 1,764, or 10%, mainly
due to reduced printing cost. until December 31, 2004 at an
exercise price of $5 per share.
It is important to note that our actual results in the future could differ
materially from those anticipated in these forward-looking statements
depending on various important factors.46 0.

1825 1903

harrisinteractive.2 % 15.
Our consolidated broadcasting operations generate revenues primarily in
euro, Hungarian forint, Swedish kronor, Norwegian kroner and Danish kroner and
incur substantial operating expenses in these currencies.4%
Adjusted EBITDA margin 22.0% 4.
Our Print operations had increased net revenues of euro 204, or 1%, mainly
due to increased subscription income coming from an increase in magazine
prices. Excluding such expenses, our selling, general and
administrative expenses increased euro 922, or 3%.
Our Print operations increased income by euro 692 from euro 3,236 in the
second quarter of 2004 to euro 3,928 in the second quarter of 2005. Talpa sold the company in May
2005, causing the contingencies related to our sale, which allowed Talpa to
recover certain cash amounts depending on the grant of certain broadcasting
licenses, to lapse.7 million
warrants that were exercisable into common shares of Lions Gate Entertainment
Corp.0% in the first half of 2004 and 2005, respectively.
Our Radio operations had increased station operating expenses of euro 198,
or 1%, mainly due to station operating expenses at the newly acquired Romanian
Radio operations.
Depreciation and amortization expenses expressed as a percentage of net
revenues were 4.
Our Radio operations reduced operating losses by euro 2,748 from euro
3,716 in the first half of 2004 to euro 968 in the first half of 2005, mainly
due to reduced losses of euro 1,530 at our Norwegian Radio operations.

Other Expenses, Net
Other expenses, net, increased euro 790, from euro 1,372 in the first half
of 2004 to euro 2,162 in the first half of 2005, mainly due to an increase of
Hungarian municipality taxes, which are payable as a percentage of revenues ,
and written-off project costs in the first half of 2005. Countries where SBS currently
has broadcasting assets include: Belgium (Flanders), Denmark, Finland, Greece,
Hungary, The Netherlands, Norway, Romania and Sweden.
The Datatel Scholars Foundation awards four different types of
scholarships: the Datatel Scholars Foundation scholarship, the
Returning Student scholarship, the Nancy Goodhue Lynch scholarship ,
and the Angelfire scholarship.
"The Datatel Scholars Foundation is committed to assisting
students in their higher education endeavors," said Jane Roth,
executive director of the Datatel Scholars Foundation. Headquartered
in Fairfax, VA, the company has over 650 client institutions
throughout North America.

michif bayou

According to the 2006 study, African American
vehicle shoppers find low monthly payments as most appealing, while Asian and
Hispanic Americans see low finance rates as their most appealing incentive
option. AutoVIBES combines the online automotive research
expertise of Harris Interactive with targeted sampling from Kelley Blue Book's
popular Web site, kbb. This survey was conducted online in 2005 among
more than 20,000 adults 18 years and older who are in-market vehicle shoppers
and within 12 months of purchasing or leasing a new vehicle.com.0% 100.4% 64.2%
Corporate expenses 1. Corporate expenses
expressed as a percentage of net revenues were 1.

Non-cash Compensation
Non-cash compensation increased euro 34 from euro 220 in the second
quarter of 2004 to euro 254 in the second quarter of 2005, mainly related to
the impact of our increasing share price on options to purchase 66,667 shares
of common stock previously granted to our Chairman.V.

Station Operating Expenses
Station operating expenses increased euro 50,534, or 24%, from euro
214,551 in the first half of 2004 to euro 265,085 in the first half of 2005. Selling, general and
administrative expenses expressed as a percentage of net revenues were 18.
Our Radio operations had decreased selling, general and administrative
expenses of euro 1,015, or 7%, mainly due to decreased third-party marketing
expenses at our Swedish, Danish and Norwegian Radio operations. Such savings
were partly offset by expenses of euro 737 at the newly acquired Romanian
Radio operations. Non-cash compensation mainly
relates to the impact of our increasing share price on options to purchase
66,667 shares of common stock previously granted to our Chairman.

Depreciation and Amortization Expenses
Depreciation and amortization expenses increased euro 4,838, or 37%, from
euro 13,119 in the first half of 2004 to euro 17,957 in the first half of
2005 , mainly due to increased amortization expenses associated with intangible
assets recorded on the acquisitions of C More, Prima TV and the Romanian Radio
operations.
The majority of these losses relates to our investment in Prima TV, which has
been consolidated since March 1, 2005.
Our Radio operations improved adjusted EBITDA by euro 2,363 and euro 3,821
in the three and six months ended June 30, 2005, respectively. We do not undertake to update
any forward-looking statements that may be made by us or on our behalf, in
this press release or otherwise. Pryor Associates Citigate Dewe Rogerson
Tel: +1 212 986 6667 Tel: +1 818 338 3555 Tel: +44 207 282 2924

SBS BROADCASTING SA
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(in thousands of euro, except share and per share data)

Three months ended Six months ended
June 30, June 30,
2004 2005 2004 2005

Net revenue 187,207 243,554 327 ,881 414,354

Operating expenses:
Station operating
expenses (exclusive
of depreciation
and amortization) 110,416 142,293 214,551 265 ,085
Selling, general and
administrative expenses
(exclusive of depreciation
and amortization) 31,428 39,971 59,917 75,513
Corporate expenses 3,466 5,620 6,903 9,942
Non-cash compensation 220 254 1,014 599
Depreciation 3,250 3,548 6,383 7,114
Amortization 3,528 6,798 6,736 10,843
Total operating
expenses 152,308 198,484 295,504 369,096

Operating income 34,899 45,070 32,377 45,258

Equity in loss from
unconsolidated
subsidiaries (721) (63) (1,297 ) (660)
Interest income 938 1,077 2,010 2,010
Interest expense (6,196) (5,103) (9,165) (9,197)
Foreign exchange gain (loss) (49) (8,191) 726 (7,877)
Investment gain 2,789 2,902 2,789 2,963
Loss on extinguishments
of debt (2 ,463) (8,472) (2,463) (8,472)
Other expense, net (825) (1,011) (1,372) (2,162)

Income before income
taxes and minority
interest 28,372 26,209 23,605 21,863

Income taxes (6,782) (7,752) (7,033) (6,597)

Income before
minority interest 21,590 18,457 16,572 15,266

Minority interest in
income, net (3,460) (4,070) (2,348) (3,970)

Net income 18,130 14,387 14,224 11,296

Net income per common
share - basic: 0.
Returning Student scholarships were awarded to 50 students who
recently returned to pursue higher education degrees after an absence
of five years or more. "In its 15th
year, the Foundation is very pleased to be able to award a record
number of scholarships to deserving students .

collects 1825

(2) Adjusted EBITDA is defined as operating income plus non-cash
compensation, depreciation and amortization expenses."

Recent Developments

Refinancing
On March 7 , 2005, we entered into a euro 300,000 unsecured bridge facility
agreement with ABN AMRO Bank N. Holders of the Senior Notes received a redemption
price of 106% plus accrued and unpaid interest on June 15, 2005.7 Rockklassiker, Studio
107. We expect the final
purchase price allocation to be completed during the third quarter.0% 100.2% in the second quarter of 2004 and 2005,
respectively .865%) payable on the Facility compared to the
interest paid on the 12% Senior Notes. The foreign
exchange loss in 2005 mainly comprises a euro 7,447 non-cash loss on amounts
drawn on our Facility by our Swedish holding company to fund the acquisition
of C More. Excluding such expenses, our selling , general and
administrative expenses increased euro 5,469, or 14%, mainly due to increased
marketing expenses at Kanal 5, TVNorge and TV2 related to the promotion of new
programming initiatives.

Cash Flow
Cash provided by operations increased euro 45,325 from euro 4,353 in the
first half of 2004 to euro 49,678 in the first half of 2005.55 0.

Datatel Scholars Foundation Awards More Than 300 Scholarships for 2005-2006 Academic Studies; Company Reinforces Its Commitment to Higher Education

Veterans who served in the Asian theater (Vietnam,
Laos, or Cambodia) between 1964 and 1975, spouses and children of
Vietnam veterans, and refugees from Vietnam, Laos, or Cambodia are
also eligible for the Angelfire scholarship.