Guava A/S - Expectations for the Result for the Financial Year 2008/2009

In continuation of the Company's previous announcement concerning the expected
result for the financial year 2008/2009, it is hereby announced that the
Company now expects a turnover in the range of approx. DKK 240-260 million and
EBITDA in the range of minus DKK 9 million to plus DKK 1 million before tax,
interest and depreciation and amortisation for the financial year. 

The Company has previously expected a turnover at a level of DKK 300-320
million and EBITDA in the range of DKK 18-22 million. 

The Company maintains its intention to make provisions for depreciation in the
amount of DKK 22.5 million on customer contracts relating to acquisitions
completed in previous financial years and in the amount of DKK 7.6 million on
tangible and intangible fixed assets for the financial year 2008/2009. 

The Company makes reservations for writing down of goodwill in connection with
impairment test with preparing the Annual Report. 

The reasons for changes in expectations include:

- That the Company during the previous quarter has carried through a number of
organizational forward-looking restructuring initiatives to improve the results
and to become adjusted to the national and world economies and the reluctance
of the commercial environment. The Company has as at 31.01.2009 reduced its
staff from 193 to 153 employees, which has caused considerable dismissal
severance expenses. Furthermore, the Company has carried through other
cost-saving initiatives and merged all Copenhagen-based offices, so that Guava
A/S together with Guava Online Marketing A/S moves its head office into the
office premises of Guava Communication situated at Amaliegade 3, 1256
Copenhagen K. These cost savings will manifest itself in the financial year
2009/2010, and moreover annual cost savings amounting to a two-figured million
amount have been carried into effect. 

- The Company's sale of Adfair ApS, which affects the result as well as the
turnover. 

- Impact of foreign exchange rates: The British Pound has fallen from DKK 11 to
DKK 8.32 over the latest year. The Swedish krone has fallen from approx. DKK
0.81 to DKK 0.69 over the latest six months. The Norwegian krone has fallen
from approx. DKK 0.95 to DKK 0.78. All these currencies are among the
currencies, within which the Guava Group primarily operates. 

- In Q1 and Q2 in England, the Company has experienced a decline of turnover
and consequently the result. However, the Company has initiated a number of
initiatives on the sales front and cost savings, so the British Company expects
to come up to the total budget for 2008/2009. However, British economy is
seriously hit by the financial and social crisis and the Management is watching
developments closely. 

- The development in Guava Communication A/S and Guava Online Marketing A/S has
not performed satisfactorily and not come up to expectations for the first 6
months of 2008/2009, which affects the Company's expectations for the current
financial year. The Company has now replaced the managements of both Companies
and appointed Jacob Nyborg Managing Director of the two Companies. 

”It is of course not satisfactory to have to make adjustments to our
expectations for the financial year, but we live in a world, which at present
is seriously affected by the financial and social crisis. This likewise affects
Guava as some customers postpone their decisions and so does the prevailing
lack of consumption in society and companies' reluctance and consequently, this
affects the result for 2008/2009. This combined with many initiatives,
activities and restructuring in the Guava Group will affect the results. We saw
the first indication of crisis already during the spring of 2008 and initiated
a number of immediate steps to reduce costs and felt that we were braced for
future challenges, but the crisis rapidly gained momentum during Q2 of the
financial year and became severer and we have therefore carried into effect
additional cost adjustments”, says the CEO of Guava A/S, Brian Mertz Pedersen. 

With the current budgets, the Company's cash flow is positive for the remaining
part of the financial year 2008/2009, and the Management of the Group and its
affiliated companies has reduced their own salaries. 

”When things go well, you deserve being rewarded for your efforts, if not so
well, you as Management have to be willing to adapt yourself to the economic
situation of the Company and likewise to the world in which we live. During the
preceding period, Guava has given notice to a number of employees and,
therefore, I find it reasonable that we as Management also contribute,“ says 
Brian Mertz Pedersen, CEO. 

In case you should have any queries, please contact Brian Mertz Pedersen, CEO,
or Søren Degn, CFO, on telephone: +45 70278089 or e-mail ir@guava.com. 

With kind regards 


Brian Mertz Pedersen
CEO


Further information can be obtained by contacting:

Guava A/S 		Horwath Revisorerne (Nominated Advisor) 
Amaliegade 3	  	Strandvejen 58
DK-1256 Copenhagen K 	DK-2900 Hellerup 

Brian Mertz Pedersen 	Søren Jonassen
CEO	 		State Authorised Public Accountant 

Phone: +45 70 27 80 89	Phone: +45 39 29 25 00
E-mail : ir@guava.com  	E-mail: s.jonassen@revisor.com