Global IP Solutions Second Quarter 2009 Results

Global IP Solutions (GIPS) Second Quarter 2009 highlights:

• Bookings in the second quarter of 2009 were 3,873 TUSD, compared to bookings of 3,442 TUSD in the first quarter of 2009, and 4,768 TUSD in the second quarter of 2008. • Revenue was 3,151 TUSD in the second quarter of 2009 versus 3,097 TUSD in the first quarter of 2009, and 2,697 TUSD in the second quarter of 2008. • The Company had 10 design wins in the second quarter of 2009, including 4 deliveries each of VideoEngine and VoiceEngine Mobile products. • Cash flow from operations was -1,655 TUSD year-to-date in 2009, compared with -4,511 TUSD in the first six months of 2008. • Basic and diluted earnings per share were -0.05 (-0.15) USD in the second quarter of 2009. The Company has no plans to issue dividends. “With revenue and bookings increase, the Company is beginning to realize more efficiencies as productivity per employee increases. But while the global economy remains unstable we are continuing tight expense management,” said Emerick Woods, Global IP Solutions’ CEO. “The focus of the company that has shifted from early adopter to high-value enterprise applications with mobile VoIP and real-time video over IP is demonstrating market and strategic success as design wins in both mobile and video continues.” added Woods For further information, please see attached report and presentation. Results presentation Global IP Solutions will hold a scheduled presentation of its second quarter earnings 2009 results at the Felix Konferansesenter, Aker Brygge, today Thursday August 20, 2009 at 8:30am CET. Webcast The presentation will also be webcasted, please click on the following link to view the presentation: http://media01.smartcom.no/Microsite/start.aspx?eventid=4506