The consolidated turnover for the first nine months of 2008 of 19.1 million euros is up 13.5% compared with the same period in 2007 (16.8 million euros)

Strong performance in the Banking activity
For the first nine months of the year, the Banking activity posted a turnover of 9.7 million euros, in line with the company's forecasts (+5.7% compared with 2007), with a 3rd quarter's contribution of 3.7 million euros. The majority of this turnover was generated abroad, with the continued deployment of the Xi-Sign solutions started in 2007 in the United Kingdom. France started to contribute to the turnover, with the commencement of the 400,000 units contract announced during the first half of the year. Finally, XIRING signed a contract with the Italian Post during the third quarter, representing more than 700,000 Xi-Sign solutions.

The development of the market for securing online banking transactions continues and the "liability shift" with respect to e-commerce payments made by credit/debit cards is being established progressively throughout the world, based on national schedules that should be finalized in 2010. This went into effect in France on October 1, 2008 where liability for fraud has been transferred to the bank that issued the card, and the retailer is now guaranteed payment, as with face to face payments. In order to comply with these new rules, French banks are progressively setting up procedures for the authentication of their clients when e-commerce payments are made by credit/debit card, thus improving the market potential for XIRING's Xi-Sign strong authentication solutions in the French market.

Solid growth of the Healthcare activity
The Healthcare activity posted a turnover of 7.8 million euros, up 29.2% compared with the same period in 2007, with a 3rd quarter's contribution of 2.1 million euros. This performance was led by the demand for professional SESAM-Vitale solutions in France and the growth of XIRING's market shares in all segments.

Comments and prospects
XIRING is in a solid financial situation, with an absence of bank indebtedness and a cash position net of debt of €7.1 million euros as of June 30, 2008. The company is therefore protected from possible bank-credit restrictions.

The turnover generated during the 3rd quarter of 2008 is in line with the company's prospects.

On September 16, 2008, XIRING has confirmed its goal of €28.5 million in turnover for the year (up 20%) and increased its operating margin forecast of over 8.5% of turnover for 2008 (compared with the initial forecast of over 7%).