Graphisoft Announces Q1 2002 Results

First quarter performance in line with targets for the year

Budapest May 9, 2002 - Graphisoft announced today revenues for the three months ended March 31, 2002 of EUR 6.7 million compared to EUR 6.1 million for the same period last year. This growth in revenues is in line with the year's target, however, management does not expect the same growth rate in subsequent quarters.

The 9.9% growth in total revenues reflects different developments in the individual geographical segments. The highest growth rate was achieved in the North American market, due to the reorganization of Graphisoft's North American operations. As to the other regions, due to the continuing recession in some of the major markets (Germany, Japan), Graphisoft management does not expect similar growth for the Group in subsequent quarters, and forecasts only a slight improvement for the year, as a result of increased corporate efficiency.

"In line with our earlier outlook for the year, we expect a modest revenue growth and profitability," said Ray Small, newly appointed CEO of Graphisoft. "A thorough review of strategy and operations of the Group has begun with the main goal to improve operational efficiencies."

Continuing efforts to keep costs within limits, led to a decrease in operating expenses in the first quarter of 2002, which resulted in a positive operating income and a substantial growth in EBITDA compared to the same period last year. Due to the change in US GAAP method of accounting for intangible assets, a transitional impairment loss incurred in the first quarter having an effect on net income.

KEY FIGURES*	3 months ended March		% change
	2002	2001	02/01
Revenues	6,671	6,071	9.9
Gross profit	5,686	5,190	9.6
Operating expenses	5,489	5,705	(3.8)
Operating income	197	(515)	**
EBITDA***	671	86	680.2
Income before cumulative effect of change in accounting principle	74	(648)	**
Cumulative effect of change in accounting principle	(352)	-	n.a.
Net income	(278)	(648)	57.1
Net income per share (EUR /share)	(0.03)	(0.06)	55.7

* All amounts are in thousand EURO, except net loss per share
**Because of the change from a loss to a gain, the exact calculation is ambiguous
*** Earnings Before Interest, Taxes, Depreciation and Amortization

Telephone conference:
Graphisoft management will hold a telephone conference regarding this statement at 2 pm CET, May 9, 2002 for its investors and analysts. To participate, please call: +49 69 27110400.

The complete report can be downloaded here.

Graphisoft is a leading provider of design and management software solutions for the architectural profession and the building industry. Founded in 1982, Graphisoft is ranked today among the largest AEC CAD software developers in the world, with ten offices worldwide in addition to its headquarters. Graphisoft's products, ArchiCAD, ArchiFM, Cymap, GDL, are used by over 100,000 architects, facility managers and building professionals all over the world. Shares are traded on the Frankfurt Stock Exchange Neuer Market (GPH) and on the Budapest Stock Exchange (GRAPHI). More information about Graphisoft is available at www.graphisoft.com.