September 30, 2011, Seat Pagine Gialle, in 9 months of activity, recorded a negative return for 33.9 million euros, compared to a profit of 42.2 million euros in the same period of 2010.

Declining revenues: -10.5% to 695.6 million euros.

The gross operating margin in the first nine months of 2011 was: 309,600,000 Euros and showed a decrease of EUR 46.5 million compared to the first nine months of 2010.

Net debt at 30 September 2011 amounted to 2.703 billion euros, down 28 million euros compared to 31 December 2010.

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