This paper reports MT evaluation experiments that were conducted at the end of year 1 of the EU-funded CoSyne 1 project for three language combinations, considering translations from German, Italian and Dutch into English. We present a comparative evaluation of the MT software developed within the project against four of the leading free webbased MT systems across a range of state-of-the-art automatic evaluation metrics. The data sets from the news domain that were created and used for training purposes and also for this evaluation exercise, which are available to the research community, are also described. The evaluation results for the news domain are very encouraging: the CoSyne MT software consistently beats the rule-based MT systems, and for translations from Italian and Dutch into English in particular the scores given by some of the standard automatic evaluation metrics are not too distant from those obtained by wellestablished statistical online MT systems.