GENESYS Conferencing Reports First Quarter Results for 2008

Market Wire, May, 2008

Genesys Conferencing ReportsFirst Quarter Results for 2008

Vienna, Virginia, and Montpellier, France - May 14, 2008 - Genesys Conferencing

(Euronext Eurolist: FR0004270270), a global multimedia collaboration service leader, today reported unaudited financial results for the first quarter ended March 31, 2008. All results are reported under International Financial Reporting Standards (IFRS).

"We are very pleased with our first quarter financial results and the leadership position Genesys Meeting Center services have acquired," stated Francois Legros, Chairman and Chief Executive Officer. "We are also proud of all the operational and financial accomplishments that the employees of Genesys have made. Their personal achievements are what have successfully led to the strategic transaction that Genesys shareholders have favorably accepted."

Q1 2008 versus Q1 2007 Highlights

- Total volume increased 23.7%

- Genesys Meeting Center volume increased 24.4%

- Revenue increased 7.8% or 14.2% excluding exchange rate fluctuations

- Genesys Meeting Center Revenue increased 8.7%

- EBITDA1 increased to 9.0 million euros

- Net income increased to 5.7 million euros

Volume and Revenue

Total volume increased by 23.7% to 859.0 million minutes in the first quarter of 2008 compared to 694.3 million minutes the first quarter of 2007. The volume increase was primarily driven by strong quarterly growth for Genesys Meeting Center services which increased by 24.4% to 822.1 million minutes in the first quarter of 2008.

Total revenue in the first quarter of 2008 was 39.0 million euros compared to 36.2 million euros in the first quarter 2007. Genesys Meeting Center revenue was 31.6 million euros in the first quarter of 2008, an increase of 8.7% or 2.5 million euros from 29.1 million euros in the first quarter of 2007. Year-over-year price erosion was significantly less in the first quarter of 2008 decreasing to 12.9% compared to price erosion of 20.9% in the first quarter of 2007.

Operating Profitability

Gross margin was 66.8% for the first quarter of 2008 compared to 62.3% for the first quarter of 2007. The increase of gross margin further reflects improved terms of the company's telecommunications agreements and improved economies of scale resulting from very strong organic volume growth over the past several quarters.

Total operating expenses in the first quarter of 2008 were 19.6 million euros compared to 19.3 million euros in the first quarter of 2007.

EBITDA1 was 9.0 million euros in the first quarter of 2008 an increase of 49.0% compared to 6.1 million euros in 2007. The year-over-year increase in first quarter 2008 EBITDA largely reflects the 7.8% increase in revenue and improvement in gross profit. EBITDA margin for the first quarter of 2008 was 23.2% compared to 16.8% last year. Operating income improved to 6.4 million euros in the first quarter of 2008 an increase of nearly 100% compared to 3.2 million euros in the first quarter of 2007.

In the first quarter of 2008, net income totaled 5.7 million euros and diluted EPS totaled 0.08 compared to 1.2 million euros and 0.02, respectively, in the first quarter of 2007.

Liquidity

As of March 31, 2008, the company's net cash2 was 20.5 million euros, an increase of 6.3 million euros compared to 14.2 million euros as of December 31, 2007. Cash from operating activities increased to 8.9 million euros in the first quarter of 2008 compared to 3.6 million euros in the first quarter of 2007.

The company's total debt as of March 31, 2008, was 17.4 million euros compared to 18.2 million euros as of December 31, 2007.

Shareholders' equity was 65.1 million euros compared to 61.7 million euros as of December 31, 2007.

"As a result of increased economies of scale and strong profitability, Genesys has met its objective of ending this quarter for the first time having more cash-on-hand than total debt," stated Andrew Lazarus, Executive Vice President and Chief Financial Officer. "We believe the company's improved ability to generate strong cash flow from operations and its ability to de-leverage its capital structure has been instrumental in allowing Genesys to realize an event that will maximize company value in a very meaningful way."

Tender Offer

As preliminarily reported by the AMF yesterday, May 13, 2008, the tender offer by West Corporation for Genesys S.A. has received 91.90% of outstanding Genesys shares above the minimum threshold of tendered shares of 66.66%. Genesys expects the transaction to close on May 22, 2008. All outstanding amounts under Genesys' existing credit agreement are expected to be prepaid on such date.

Conference Call and Webcast

Chairman and Chief Executive Officer François Legros and Executive Vice President/Chief Financial Officer Andrew Lazarus will host a conference call on Wednesday, May 14, 2008 at 11:00 a.m. Central European Time to discuss first quarter 2008 financial results.

The conference call will be web cast live and may be accessed at http://events.webeventservices.com/genesys/2008/05/14/