London, December 8, 2003 — The full list of Europe’s 500 fastest-growing technology companies was announced tonight during the 2003 Deloitte EMEA Technology Fast 500 award ceremony for chief executives in the Natural History Museum, London. Deloitte also released the 2003 Technology Fast 500 Europe Report, a comprehensive analysis of the business trends and background statistics of the winning companies and a summary of the key concerns and expectations of sector CEOs.

The programme covers public and private technology companies from 21 European countries, and is the most objective industry-ranking standard to focus on the technology sector. The awards are researched and sponsored by the Deloitte Technology, Media & Telecommunications (TMT) Industry Group.

The number one ranked company, with an average five-year revenue growth of 56,769 percent, is all-round Internet service provider Tiscali S.p.A., headquartered in Cagliari, Italy. 

Top 10 ranked companies

"A combination of business acumen and ambition have made all of these businesses stand out from the crowd," said Igal Brightman, Global Leader of Deloitte’s TMT Group. "All of the Deloitte Fast 500 are winners in different ways, but they have continued to invest in brand recognition and talent and keep customers coming aboard. Their brave efforts will help to reshape the marketplace and lead others to the many opportunities in EMEA’s fast-growing technology sector."

"While there is no doubt that these rankings are the result of exceptional sustained efforts, there are some indicators here that the European high-tech sector is regaining stability," said Karel Bakkes, Deloitte’s Partner in charge of the EMEA Technology Fast 500 programme. "It is encouraging to see significantly increased rates of revenue growth despite the current climate, and nominations for this year’s ranking also reached an all-time high."

Deloitte EMEA Technology Fast 500 company statistics
The software sector increased dominance in the ranking from 36 percent in 2002 to 42.4 percent in 2003. Other results of interest include:

• The regions with the fastest growing companies are France, with 171; the UK, with 89; and, Norway, with 48 ranked companies;
• All European Technology Fast 500 Winners achieved more than 200 percent growth average — compared with 100 percent last year;
• Revenues for the Fast 500 ranked companies as a whole grew by an average of  1175 percent, more than double last year’s growth rate of 528 percent.

About the Deloitte EMEA Technology Fast 500 awards
The Deloitte EMEA Technology Fast 500 programme is EMEA's most objective industry-ranking standard that focuses on the technology field. It was created to recognize the effort and dedication of those 500 fastest-growing technology companies in Europe, the Middle East and Africa and includes all areas of technology, from Internet to biotechnology, from medical and scientific to computers. It includes both public and private companies.

The awards are based on five-year average percentage growth for each technology company. Prior to this year, while the ranking was being established in Europe, three-year averages were used. For 2003, companies are ranked on percentage of revenue growth between 1998 and 2002. The 500 companies meeting the strict definition of a technology company with the fastest-growth over five years will make the ranking.

About Deloitte’s Technology, Media & Telecommunications (TMT) Group
The TMT Industry Group is composed of service professionals who have a wealth of experience serving technology, media and telecommunications companies throughout the world in areas including cable, communications providers, computers and peripherals, entertainment, media and publishing, networking, semiconductors, software, wireless, and related industries. These specialists understand the challenges that these companies face throughout all stages of their business growth cycle and are committed to helping them succeed. Deloitte is a leader in providing strategic, financial and operational assistance to its technology, media and telecommunications clients.

About Deloitte
Deloitte Touche Tohmatsu is an organization of member firms devoted to excellence in providing professional services and advice. We are focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, our member firms, including their affiliates, deliver services in four professional areas: audit, tax, consulting, and financial advisory. Our member firms serve more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global companies.

Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each member firm is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other, related names. The services described herein are provided by the member firms and not by the Deloitte Touche Tohmatsu Verein. For regulatory and other reasons, certain member firms do not provide services in all four professional areas.