London, December 2, 2002 — The 500 fastest growing high-tech companies in Europe, the Middle East and Africa (EMEA) were identified today as the 2002 Deloitte Technology Fast 500 EMEA ranking was announced in London. The ranking is administered by the Technology, Media & Telecommunications (TMT) industry practice of Deloitte, one of the world's leading professional services firms.

Public and private technology companies based in Europe, Central Europe, Israel, Russia and South Africa and representing all high-tech sectors are included in the prestigious ranking. The 2002 Deloitte Technology Fast 500 EMEA programme is Europe's most objective measurement standard that focuses exclusively on the TMT sector. It is based on three-year average revenue growth of each technology company between 1999 and 2001.

The number one ranked company, with an average three-year revenue growth of 33,879 percent, is Danionics A/S based in Denmark, a producer of lithium-ion polymer batteries. The average three-year revenue growth for all 500 companies is 528 percent.

Top 10 ranked companies

"These 500 outstanding companies have made a marvelous achievement," said Igal Brightman, Global Leader of Deloitte's TMT industry group. "Their vision, strategies and innovation have made them not only successful companies, but the true growth leaders of the TMT sector. I congratulate them for their impressive performance."
 
According to Karel Bakkes, Deloitte's Partner in charge of the Deloitte Technology Fast 500 EMEA programme, "Although the technology sector has been severely challenged by a major economic slowdown, these companies have found successful ways to develop products and services that fit the needs of the technology market and outpace their competitors. In addition, 40 percent of the ranked companies have achieved the rare distinction of being on the Deloitte ranking for the second consecutive year. That is an outstanding accomplishment."
 
Deloitte Technology Fast 500 EMEA company statistics
While all TMT industries are represented in the 2002 ranking, the most dominant industry is software, representing 179 companies or 36 percent of the entire ranking. Other findings include:

• The regions with the fastest growing companies are the United Kingdom with 142, France with 99, Germany with 54 and Norway with 50;
• The average growth rate of the top 100 ranked companies is 1661 percent;
• The average growth rate of the top 200 ranked companies is 395 percent;
• The average growth rate of all companies on the 2002 ranking is 528 percent, which mirrors the 2001 rate of 525 percent.

Qualifying criteria
To qualify for the ranking, firms must be involved in proprietary technology that contributes significantly to their operating revenues, manufacture a technology product or be deeply involved in technology research and development. The firm must have been in business at least three years, had 1999 revenue of at least 50,000 euros, and be headquartered in Europe or have shares listed on a European stock exchange.
Deloitte has reviewed and verified the financial information and three-year average revenue growth documentation of each company entering the ranking programme.

The Deloitte Technology Fast 500 EMEA ranking is compiled from three sources: 1) winners of the single country/region Fast 50 programmes are automatically entered into the Fast 500 programme, 2) nominations submitted directly to the Technology Fast 500 EMEA, and 3) from public company database research.

The 2002 Deloitte Technology Fast 500 EMEA ranking was announced during Deloitte's award program for technology sector CEOs in London as part of the Financial Times World Telecommunications conference. Deloitte was a sponsor of the conference.

About Deloitte's TMT Industry Practice
The TMT industry practice has deep industry knowledge of technology, media and telecommunications companies and the challenges these firms face in areas such as Internet, software, computers, telecommunications and networking, semiconductor and related industries, along with broadcasting and publishing. Deloitte's TMT practice provides a global network of dedicated professionals who can deliver innovative solutions to clients wherever they are in the world.

About Deloitte
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