Buongiorno Announces the Acquisition of the U.S. Company Rocket Mobile, Leading QUALCOMM BREW Developer of Wireless Applications(1)

Buongiorno Announces the Acquisition of the U.S. Company Rocket Mobile, Leading QUALCOMM BREW Developer of Wireless Applications(1)

August 04, 2006

    MILAN, Italy, Aug. 4 /Xinhua-PRNewswire/ -- Buongiorno
USA, Inc., the US subsidiary of the Buongiorno SpA Group
(MTAX STAR, Italian Stock Exchange: BNG), a multinational
operating in the market of multimedia content via telephone
and digital channels, signed the final agreement to acquire
up to 100% stake in Rocket Mobile, Inc.

    Founded in 2001, Rocket Mobile is a Silicon
Valley-based firm (Los Gatos, California - US). It is at
the forefront of delivering multimedia and messaging
software for mobile handsets.

    The company creates advanced applications that drive
high end-user satisfaction for partners operating in the
wireless industry, including handset manufacturers,
wireless operators and content providers. Partners include
Motorola, Verizon Wireless, Alltel, Samsung Electronics,
Sony BMG, QUALCOMM, Sharp, Kodak, National Geographic,
Corbis, and others.

    Rocket Mobile developed one of the first mobile
applications to receive TRUE BREW certification in the US
and since then, they've continued to leverage this
technology to develop sophisticated applications that have
earned them four QUALCOMM BREW Developer awards.

    The messaging applications offered by Rocket Mobile are
preloaded by handset manufacturers ("Factory
Pre-load"); Rocket Mobile's consumer applications are
available for download from leading BREW operators
worldwide ("Retail Business").

    "The cutting-edge applications and services
developed by Rocket Mobile have a broad technical reach
that add value to the entire wireless value chain. The
inclusion of Rocket Mobile will widen Buongiorno's range of
quality Value Added Services, adapting it to the BREW world.
Moreover, thanks to relations developed by Rocket Mobile,
Buongiorno will be able to strengthen its relationships
with US wireless operators, thus accelerating the B2B
distribution channel" stated Andrea Casalini, Chief
Executive Officer of Buongiorno SpA.

    Rocket Mobile closed financial year 2005 with
revenues(2) totaling approx. USD 5 million, Gross Margin of
USD 4.2 million, and operating income amounting to USD 0.27
million (as per tax return). For the 2006 financial year,
Rocket Mobile expects to achieve revenues totaling approx.
USD 10 million, Gross Margin of USD 8 million, and
operating income amounting to about USD 2.2 million. 2006
half-year results were in line with the business plan.

    The acquisition of Rocket Mobile's share capital will
be carried out by cash by the US subsidiary of Buongiorno
USA, Inc., for a total amount of USD 17 million, plus net
current assets. An earn-out of up to USD 10 million may
also be paid, provided that Rocket Mobile reaches a pre-set
EBITDA in the 12 months after the signing of the contract.

    50% of the fixed amount will be covered by a capital
increase of Buongiorno USA, Inc. that will be subscribed by
Mitsui & Co., Ltd. for the stake already held in the
share capital of the company. The remaining 50% will be
covered through an intra-group financing by the Parent
Company in favor of Buongiorno USA, Inc.

    To finance this transaction, Buongiorno SpA will use
currently available liquid funds as well as a limited part
of the Euro 30 million medium-term credit line approved by
the Board of Directors in May 2006.

    Payment of the fixed part will be made in a single
installment on the closing date, which is scheduled for
early September.

    Rocket Mobile will continue to operate as a business
unit of the Group and Wayne Yurtin will keep his position
as President and CEO of Rocket Mobile. Further confirming
his long-term commitment, Wayne Yurtin -- as the majority
selling shareholder of Rocket Mobile -- is committed to
re-investing at least USD 1 million of his own income to
the acquisition of Buongiorno shares on the market within
three months of the closing date and to holding the shares
for 12 months.

    (1) BREW is a solution created by QUALCOMM (
http://www.qualcomm.com ) to
        develop and distribute wireless applications,
adopted especially by
        operators using wireless CDMA technology. This
technology is widespread
        in the US, Asia, Latin America and Australia. BREW
offers a powerful 
        development platform with many functions, and also
a sophisticated 
        integrated system of distribution of applications
to users. For 
        further information: 
http://brew.qualcomm.com/brew/en/

    (2) Rocket Mobile's profit and loss account is based on
the cash account 
        model

    For more information, please contact:

     Monica Montefusco
     Global PR & Events Manager
     Email:   [e-mail]

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