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Interim Report 1 January - 31 March 2004

4/22/2004 1:00 PM

- Net turnover for the first three months amounted to SEK 1,438 (1,496) million.
- The underlying operating result amounted to SEK 264 (250) million. The operating profit, including income from corporate development of SEK 461 (190) million, amounted to SEK 725 (440) million.
- Kinnevik's interest in the earnings of associate companies amounted to a net gain of SEK 2 (50) million.
- Net result after taxes amounted to SEK 503 (246) million.
- Earnings per share amounted to SEK 7.99 (3.91).
- The market value of the Group's holdings of listed securities amounted to SEK 18,827 million at March 31, 2004. On April 21, the value was SEK 20,369 million, which means that the market value exceeded the book value of the Group's listed portfolio by SEK 8,530 million on that date.
- At Extraordinary General Meetings of Kinnevik and Invik on April 16, it was decided to approve the merger of the two companies. The EGMs also decided that holders of Kinnevik's and Invik's class A shares shall be given the opportunity to convert these shares into class B shares between May 18 and June 16, 2004.

For further information, please visit www.kinnevik.se or contact:
Vigo Carlund, CEO, Industriförvaltnings AB Kinnevik tel: +46 8 5620 0000
Henrik Persson, Investor & Press Relations tel: +44 7747 822 406