NOTE | OMX STO SEK

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Interim report January - June 2004

Strong growth during the first six months

- Net sales increased 54 1Q3 to MSEK 575.1 (373.6) 1)
- Operating profit increased 35 % to MSEK 44.7 (33.0) 2)
- Earnings after tax increased 38 1Q3 to MSEK 27.4 (19.9),
yielding earnings per share of SEK 3.5 (2.6)
- Moving into a newly built production facility in Torsby, Sweden
- The NOTE share listed on the Stockholm Stock Exchange, the O-list. The new
share issue in conjunction with the introduction on the stock exchange has,
together with the option redemption, provided the Company with MSEK 101.

1) Excluding units acquired during 2003, sales totalled MSEK 430 (374), which corresponds to
to roughly 15% growth for comparable units.
2) Excluding units acquired during 2003, operating income totalled MSEK 36.3 (33.0), which
corresponds to an improvement of roughly 10% for comparable units.