ANOVO NEW : Information on the financial position

Press release

Suresnes, 29 July 2011

Information on the financial position

ANOVO Group, the European leader in sustainable product lifecycle management for consumer electronics, issues an announcement providing a full update on its financial position and outlook.

As indicated in the announcement of FY 2010/2011 first-half results (press release of 25

May) and the half-year financial report (15 June 2011), for several months the Group has been exploring several options to cover funding requirements for operations. Financial results for the third quarter (April-June) for FY 2010/2011 have confirmed this imperative.

Consolidated revenue for the third quarter amounted to €83.4 million, up from €80 million for the same period of the previous fiscal year. However, significant pressures continuing to weigh on margins and fixed costs still too high have hindered efforts to improve results and the financial position. At the same time, negotiations undertaken with potential investors were not successful in securing a firm commitment within the anticipated time frame.

In this context, ANOVO Group’s Executive Management, in accord with the Board of Directors and after informing the central works committee, declared the suspension of payments for the French legal entity, ANOVO SA (1/3 of Group revenue). On 28 July the Commercial Court of Beauvais decided to initiate a court-supervised reorganisation of the French legal entity (redressement judiciaire) accompanied by a six-month observation period.

ANOVO Group expressly informs its employees, suppliers, customers and other partners that the company's operations will continue within this new framework within France. All operations in France and in its subsidiaries in other countries will continue with business as usual. This observation period will also be used to initiate new discussions with investors and/or potential buyers with the objective of ensuring the long-term future of its businesses. To this purpose, a deadline of Monday, 3 October 2011 was set by the court- appointed receiver for the submission of all projects.

To effectively carry out this process, ANOVO's Board of Directors decided to renew the appointments of Michel Rességuier as Chief Executive Officer and Philippe Favre as Deputy Chief Executive Officer.

The Group will keep the market informed of all significant advances. Given the uncertainty about the outcome of the discussions, trading in ANOVO shares and convertible bonds remains halted.

Financial information on ANOVO by e-mail may be received at no cost by registering at www.anovo.com.

About ANOVO: ANOVO is the European leader in sustainable lifecycle management for consumer electronics. The Group offers companies and individuals Repair, Logistics and Extended Warranty solutions for telephones, computers, triple play set-boxes, game consoles, e-readers, GPS devices, touch screen tablets, etc. In this way, ANOVO makes it possible to extend the lifecycle of high-tech products, increase their value and reduce their environmental footprint. On that basis, every year, ANOVO offers a second life to more than 20 million products. In FY 2009/2010 ended 30 September, the Group had revenue of €344 million. For further information, please visit our website www.anovo.com.

Compartment C of NYSE Euronext Paris

Shares - ISIN: FR0010698217; TICKER: NOV; Index: CAC Small

Convertible bonds (OCEANE) - ISIN: FR0000181174; TICKER: YNO

ANOVO

Michel Rességuier

CEO

Tel.: [phone]

ACTUS FINANCE Jérôme Fabreguettes-Leib Investor Relations/Shareholders Tel.: [phone]

[e-mail]

Bruno Della Mattia Communications Manager Tel.: [phone]

[e-mail]

Anne-Catherine Bonjour

Media Relations Tel.: [phone] [e-mail]

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Appendix

Financial information for the third quarter of FY 2010/2011

In € millions (unaudited data)	Q3 2009/2010	Q3 2010/2011
Revenue	80.0	83.4
o.w. French Region1	29.5	32.3
o.w. United Kingdom	20.2	18.1
o.w. Nordic Countries2	10.6	9.4
o.w. Spain3	7.9	11.4
o.w. Italy	8.5	8.9
o.w South America4	3.3	3.2

In € millions (unaudited data)	9-month YTD 2009/2010	9-month YTD 2010/2011
Revenue	261.0	259.9
o.w. French Region	93.6	99.9
o.w. United Kingdom	72.5	56.1
o.w. Nordic Countries	36.7	33.7
o.w. Spain	23.1	33.3
o.w. Italy	25.2	27.2
o.w. South America	9.9	9.7

1 France, Belgium, Switzerland and Poland)

2 Sweden and Norway

3 Including Euroterminal’s contributions of €2.6 million in Q3 2010/2011 and €7.7 million for the first 9 months of FY 2010/2011.

4 Chile and Peru.

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