STORE ELECTRONIC SYSTEMS (SES)

Turnover as of March 31, 2008

• Turnover Q1 increasing by 13.2% 

• Sharp increase in orders : 301 new orders booked (+92%) with 28 networks in 8  different countries 

• Signing of an exclusive roll-out agreement for the 115 French hypermarkets of the Auchan Group 

• Order of a second tier of 50 hypermarkets in Latin America, as part of a roll-out program initiated in 2007. 

Turnover :

During the first quarter 2008, Store Electronic Systems has delivered 137 stores generating sales of 10 987 K€, an increase of 13.2 % over Q1 2007.
This growth was largely driven by export sales (+ 53.9%), thus comforting the company in its strategic focus on international expansion. In France sale growth was relatively limited, a consequence of uncertainties due to expected Government initiatives regarding retail regulations.

Store Electronic Systems is moving ahead rolling-out its ESL system in major leading retail chains. The number of equipped stores in some networks is becoming quite significant ; as of March 31 2008, for example, SES equips 279 stores of the Carrefour group, 192 stores of the Casino group, 718 Intermarché, 243 Leclerc and 223 Système U.

Orders:

Once again, the Group booked a record number of new orders during the 1st quarter of 2008 (301), up 92%.

The 115 French hypermarkets of the Auchan Group are included in these new orders, for a total of over 4 million labels to be installed over a 15 months period. The 50 hypermarkets in Latin America are also included.
Excluding Auchan and the 50 Latin American stores, new orders booked by SES during Q1 increased by 28 % over Q1 2007.

Outlook :

Between Avril 1st and May 6 2008, SES recorded 68 new orders against 24 over the same period last year, i.e. a 183 % growth. During the first quarter Store Electronic Systems also installed stores in 5 new networks and 2 new countries (Netherlands and Luxembourg).

Installations of competitive bids won by SES will start taking place through Q2 2008, both for Eroski and Auchan.
In this context, the company confirms its objective of a growth rate for 2008 sales similar to that of 2007.

Q2 turnover will be published on August 13, 2008.
First semester results will be published on August 30, 2007.

About Store Electronic Systems

Store Electronic Systems is one of the world leaders in Electronic Shelf Labelling Systems (EEG) for large-scale food and non-food retailers.
The global market for this reliable, high value-added product offers strong potential, in its deployment phase at the international level.

Store Electronic Systems is listed on the Compartment C of EuronextTM Paris.

Mnémo: SESL

ISIN codes: FR0010282822  -  Reuters: SESL.PA  - Bloomberg: SESL.FP

www.ses-esl.com
www.store-electronic-systems.com