Preliminary 2001 Full Year Results

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Press release 23/01/2002

e.Biscom Announces Record 2001 Revenues
Revenues More than Triple, Rising to Over 155 Million Euro
FastWeb Clients Rise Over 9 Times to More Than 48,000 at Year-End versus 2000

Milan, Jan. 23, 2002 - e.Biscom SpA (Milan's Nuovo Mercato: EBI), Italy's largest broadband telecommunications and media services company, confirms the year-end financial figures released today in one of Italy's prominent daily newspapers.

e.Biscom announced record consolidated revenues for 2001, rising to more than 155 million Euro compared to 42.4 million Euro at the end of 2000. The bulk of these revenues came from the company's core telecommunications businesses and do not yet include any benefits expected from the recently secured access to the Socrate network. During the fourth quarter 2001, consolidated revenues rose some 70% from the third quarter to about 63 million Euro.

Clients of FastWeb SpA, e.Biscom's Italian broadband telecommunications arm, rose more than nine times to more than 48,000 (both business and residential) at year-end, up from 5,300 at the end of the previous year.

Customers of HanseNet Telekommunikation GmbH, e.Biscom's German telecommunications company operating in the Hamburg area, increased to more than 34,000 (both business and residential) at the end of 2001, up from 11,800 at the end of 2000.

The final quarter of 2001 was the best quarter ever both for FastWeb and HanseNet in terms of revenue. FastWeb revenues grew more than 80 percent in the fourth quarter compared to the third quarter to more than 33 million Euro, while HanseNet revenues rose around 45 percent in the fourth quarter to more than 19 million Euro.

FastWeb's gross margin for the final quarter was around 70 percent, maintaining its place as one of the highest in the sector. HanseNet's gross margin in the fourth quarter of last year rose to over 50 percent, up from 26 percent in the final quarter of 2000.

These results are preliminary and may be slightly modified when e.Biscom presents its 2001 consolidated bottom-line results on Feb. 28, 2002.