This is the second edition of the 'EuroGems' Index, conducted by RSM International, which investigates valuation discrepancies across Europe. The study, which analysed more than 6,000 publicly listed companies from 21 countries and 33 different industry sectors, compares companies’ historic and forecast cash flow per share growth relative to the market average and their sector average.

Analysis of Companies

Companies in the study are analysed by their growth in cash flow per share compared to the market average. According to RSM International, 6,000 publicly listed companies based in Europe, were “examined by their growth in cash flow per share over the last three years and forecast for the next three years” providing a predictor of cash flow growth over a long period.

The growth in cash flow per share is compared to that of a specific industry sector in the same period – in the case of Business & Decision, the software and services 'Computing' sector.

Additionally, the study compares the value of a company with the value of its industry sector, highlighting whether a company is exceeding the growth of that sector.

Whilst being ranked 11th, Business & Decision is considered by RSM International to be strongly under valued in comparison to other similar companies.

According to RSM International "This presents a bit of a paradox. Typically, for many different reasons, the financial markets….do not promote the real value of a certain number of companies."

Patrick Bensabat, Chairman, Business & Decision, adds "This classification reflects two indicators that are at the heart of our strategy: growth, especially organic growth, and cash flow profitability. These criteria reveal the potential of our company and should have a noticeable impact on the development of the stock market."

RSM International concludes: "It is certain that companies should experience a positive change from the publication of this Index. That was the case when the first Index was published in 2005; a number of listed companies were made more desirable as a result of that study. The same should apply to the companies that appear in the Top 20 for this year."

The fully study can be found on RSM International's website at http://www.rsmi.com/Website/web.nsf/pages/publications.

Next Financial Appointments:

• 2006 First Quarter Turnover (after close of market): Wednesday, 26th April 2006
• Annual General Meeting of Shareholders: Tuesday, 27th June 2006 at 5:00 PM (Le Club, 153 rue de Courcelles, Paris 17e)
• 2006 Second Quarter Turnover (after close of market): Monday, 24th July 2006
• 2006 Half-Year Results (after close of market): Tuesday, 26th September 2006
• 2006 Third Quarter Turnover (after close of market): Tuesday, 24th October 2006
• 2006 Fourth Quarter Turnover (after close of market): Tuesday, 23rd January 2007

About Business & Decision:

Business & Decision specialises in providing solutions and related consultancy in Business Intelligence, Customer Relationship Management, Enterprise Resource Planning and E-Business. Founded in 1992 and listed on the Euronext Paris (ISIN code FR 00000 7895 8 / BND), the Group has a reputation for its functional and technological expertise and has forged partnerships with the key technology vendors. Business & Decision currently employs over 1,400 consultants globally and has over 1,200 clients including Allianz Group, Aviva, AXA, Barclaycard, HBOS plc, MBNA, NHS, Orange, Scottish Widows and Unilever. For more information, visit http://www.businessdecision.co.uk.

St Albans, 18th April 2006