Press release

Amsterdam, May 14, 2008

TIE: Second Quarter 2008

Master Data Management Software Company TIE Holding N.V. (“TIE”) listed on the NYSE Euronext Amsterdam Stock Exchange hereby publishes it's Second Quarter 2008 Unaudited Condensed Consolidated Interim Financial Statements.

TIE reports Second Quarter 2008 Total Income of EUR 2,4m and Net Income of EUR -1,7m (loss) , including one time items amounting to EUR 1,4m (Q2 2007; Total Income EUR 2,5m and Net Income EUR -0.1m). Total income is EUR 0,2M above the First Quarter 2008 Total Income (EUR 2,2m). The fx rate effect (EUR/$) on Total Income amounts to EUR -0,1M (2007: EUR -0,1M).

Operating expenses, including one time expenses, have increased by 45% (EUR 1,042k) over the second quarter compared to previous year. Operating expenses include higher depreciation, amortization and impairment charges (EUR 781k) due to an impairment of assets pertaining to the Netherlands Cash Generating Unit (EUR 723k), and the one time expenses incurred by TIE Commerce resulting from the settlement reached with former CEO, impairment charges mainly relating to the purchase (first quarter 2008) of Sinfox, impairment of R&D expenses and one time audit and legal advisory costs; The company stresses that impairment needed to be executed to meet IFRS impairment requirements .

Net income amounts to a loss of EUR -1,722k for the quarter, prior year comparative amounted to EUR -82k. For the six months net income amounts to a loss of EUR -2,127k (2007: EUR -319k).
Shareholder's Equity amounted to EUR -0,7m, with Equity totaling EUR 0,5m (At the end of the second quarter of 2007: EUR 4,5m).

The net cash position of the Company as per March 31, 2008 amounted to EUR 114k. The credit facility was drawn to an amount of EUR 256k on March 31, 2008 (March 31, 2007: EUR 367k). Management has secured an uncollateralized Credit Facility with ABN AMRO Bank amounting to EUR 500k ending October 1, 2008. Jalak Investments BV is acting as guarantor.

Jan Sundelin, Acting CEO said: “We have made significant structural improvements in the cost basis of the Company during the first six months of this financial year. Lower accommodation costs and service charges, reduction of excess head count, settlement with the former CEO and other costs reducing matters enable the Company to approach break even level based on Q2 sales volume and the realized reduced costs level. The overall effect approximates a saving of EUR 750k annually against an up front one times expense. Though the legal proceedings against Samar still continue, management is confident with respect to the outcome of the court case. We are very pleased that the turnaround phase of the Company is behind us; that management and our sales team are able to focus on increasing sales and sales volumes to further improve the Companies results. Furthermore, we have established ourselves as a leader in the e-invoicing market which market will grow significantly in the coming years. In the coming months TIE will be very active in promoting e-invoicing initiatives starting with the e-invoicing convention on May 21, 2008”.

Further details with respect to these Second Quarter Results can be found in the separate Condensed Consolidated Interim Financial Statements for the three month period ended on March 31, 2008, which are attached hereto. These Condensed Consolidated Interim Financial Statements are unaudited.

Profile TIE

TIE bridges the gap between online and traditional business. TIE helps industry and supply chain partners achieve electronic business collaboration without limitations. Our solutions are proven to lower costs, increase revenue and optimize business processes. Because we have decades of experience to share, TIE remains a key contributor to the development and implementation of global eCommerce standards. TIE is a publicly held company with offices in the United States, France, and the Netherlands.

Further information:

End of press release

Download Condensed Consolidated Interim Financial Statements (pdf)