Investments in online advertising in Romania totaled RON 42.6 million (12.8 mln euros) in 2007, according to the "Romanian Online Advertising Study," conducted by IAB Romania and the PricewaterhouseCoopers Romania audit company, Business Standard reported.

The amount exceeds estimates by players, of 8.5-9 mln euros.

The study also indicates that the online advertising market amounted to RON 33.87 mln (9.2 mln euros) in this year's first quarter, up 90% year-on-year.

For the first time, this study provides Real numbers in Romania, based on the real level of sales of the largest companies in the industry, instead of the estimates which existed so far, according to Ovidiu Florea, President of IAB Romania and Managing Partner of Media Investment.