Interim Results for the Six Months Ended 30 June 2007

17 September 2007

GlobeOp Financial Services S.A. ("GlobeOp" or "the Company"), a leading independent provider of business process outsourcing, financial technology services and analytics to the hedge fund industry and other targeted sectors of the financial services industry, today announces its interim results for the six months ended 30 June 2007.


• Total AuA up 23% ($16 billion) to $85 billion
• Revenue growth of 22%; MBA increased 23% in parallel with AuA growth
• Adjusted Operating Profit increased 31% overall and as a percentage of revenues was 21.8%
• 4% increase in headcount in first half 2007
• Strong pipeline for second half of the year 2007, $5 billion in new client AuA recorded thus far in the third quarter
• Strong cash flow from operations of over $8 million in first half of 2007

Commenting on the results, Hans Hufschmid, Chief Executive Officer, said: "I am pleased to report strong results for the first half of this year. Revenues are well ahead of last year; our AuA continued to expand; and, consistent with our strategy to optimize operational performance and cost effectiveness, our AuA per employee and our adjusted operating profit have improved."

Commenting on the second half of 2007, Mr. Hufschmid added: "July and August were a difficult trading environment for hedge funds, the long-term impact of which is not yet known. The immediate market impact on client fund performance has varied: some performed poorly, others performed well. As a consequence some funds face redemptions, some are closing, and others are accelerating their asset gathering activities. We believe these factors combined with our strong growth in both first half 2007 revenues and AuA as at 30 June as well as strong sales thus far in the third quarter should yield continued solid growth in our second half revenues. Hence, despite the difficult external environment, full year results are expected to be in line with market expectations."

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