Interim Report 1 January - 31 March 2004

4/22/2004 1:00 PM

- Net turnover for the first three months was SEK 411.5 (210.9) million.
- Consolidated income after financial items amounted to SEK 153.3 (81.4) million for the first three months. Income during the first three months 2003 includes capital gains of SEK 21.2 million on the sale of shares.
- Net income amounted to SEK 99.1 (17.4) million for the first three months.
- Earnings per share amounted to SEK 12.77 (2.24) for the first three months.
- Modern Finance Group reported income after financial items of SEK 48.0 (10.6) million for the first three months.
- The market value of the long-term securities portfolio amounted to SEK 7,692 million at 31 March 2004.
- During the first quarter Fischer Partners ranked third in size on the Stockholm stock exchange with a market share of 7.8% of the value of shares traded on Stockholmsbörsen.
- The Extraordinary General Meeting held on 16 April resolved in favour of the merger with Industriförvaltnings AB Kinnevik, to carry out a 10:1 share split, and to give shareholders the opportunity to reclassify their class A shares as class B shares between 18 May and 16 June 2004. Pro forma income statement and balance sheet for the merged group are provided as supplementary information to this report.

Anders Fällman, Chief Executive Officer tel +46 (0) 8 562 000 20
Henrik Persson, Investor & Press Relations tel +44 (0) 207 321 50 10