ICT EMPLOYEE SUSPECTED OF FRAUD

01/30/2009

ICT Automatisering N.V. (ICT) has reported fraud committed by an employee. The employee is suspected of embezzling funds. So far it is believed to be an individual action of this employee, ICT has no indication that other people within the company were involved. At this moment the matter is further investigated, the employee was immediately fired. The supposed size of the fraud is approximately EUR 2.5 million. ICT will do its utmost to recoup the funds. The fraud occurred in the year 2008. Pending the investigation, the impact on the 2008 results can not be determined yet, but will not exceed the final size of the fraud.

Bram Schot, CEO of the ICT Group: “We are struck by this discovery. When somebody knowingly violates the rules, there is nothing you can do as a company. Nevertheless we will carefully review our procedures and control mechanisms to prevent such an incident in the future. Furthermore, we will do everything we can to recoup the embezzled funds.”