PARIS, September 15 /PRNewswire/ --

- Accelerated Investment Drives International Expansion

Emailvision, the global market and technology leader in
software as a service (SaaS) for email marketing, announces its first half
results for 2009.

EUR million                  First half 2009   First half 2008    Growth
                                     (unaudited)       (unaudited)
 
    Backlog as at 30 June                  33.2            21.2        + 57%
    Revenues                               13.2            10.2        + 30%
    Gross margin %                           71%             68%
    EBIT                                    0.3             1.0
    EBIT %                                  2.0%           10.1%
    Pre-tax profits                         0.2             1.0
    Net earnings/(loss)                    (0.2)            0.6



Strong level of sales activity leads to improved gross margins

Revenue growth achieved during the first half (+30% to EUR13.2
million) led to increased gross margins, which reached 71% (compared to 68%
in H1 2008).

Increased sales activity also led to strong growth in the
group's backlog. As at 30 June 2009, the backlog was EUR33.2 million,
representing a year on year increase of 57%. This includes an increasing
contribution from the group's newest subsidiaries (USA, Switzerland, Spain,
the Netherlands and Scandinavia).

Accelerated investment drives international expansion

As previously announced, Emailvision accelerated its
investments during the first half of 2009 as part of its international
expansion strategy. These investments, which negatively affect short-term
profitability, relate to sales teams, marketing, R&D, support functions and
training.

EBIT for the first half was EUR0.3 million. This represents
2.0% of revenues compared to 10.1% for the first half of 2008.

The group is on track with its recruitment plan. 55 new staff
joined the group during the first half, taking the total number of employees
at 30 June 2009 to more than 200.

During the first six months of the year, Emailvision hired 11
new field sales managers, taking the group's total sales team to 50 at the
end of June 2009.

Overall, payroll costs were EUR2.6 million (year on year
increase of 54%), increasing slightly as a percentage of revenues (55.9% vs.
47.2% in H1 2008). However, they remain stable as a percentage of operating
costs (around 50%).

Consequently, the group produced a net loss of EUR0.2 million,
in line with expectations.

Outlook 2009

Despite the difficult economic environment, Emailvision has
successfully pursued its strategy of international market share growth. This
strategy is supported by the positive trends seen since the beginning of the
year in the market for retention email marketing. The group therefore expects
a strong increase in EBIT in the second half compared to the first half of
2009.

However, the decision taken in the middle of 2009 to
accelerate investments, particularly in the group's international businesses,
means that EBIT for the full year may be slightly below that achieved in
2008.

Next announcement: Q3 2009 revenues - 19 October 2009

Emailvision is listed on the NYSE Alternext Market 
(ISIN: FR0004168045 / MNEMO: ALEMV)

About Emailvision

Emailvision is the global market and technology leader for email
marketing software services (SaaS). Emailvision's flagship product,
Campaign Commander(TM), has become the benchmark software service for
the e-commerce and publishing industries. With over 200 staff,
Emailvision is present in the major global markets with offices in the
United States, the UK, France, Germany (Hamburg and Munich),
Switzerland (Geneva and Zurich), Belgium, Netherlands, Spain and
Sweden. Emailvision is driving a global market share growth strategy in
a fast-growing market.

Contacts
    Emailvision
    Nick Heys, CEO
    Olivier Candau, CFO
    investor-relations@emailvision.com