Proha's Dovre Consulting and Services division continues Proha's series of strategic acquisitions by acquiring the full ownership of Project Resource Solutions Inc (PRS). PRS is a project management resource company focusing on services to Canadian Oil Sand Projects, a market that Dovre's subsidiary Fabcon entered in 2006. PRS will become a subsidiary to Fabcon Canada Limited and thus a part of Proha's Dovre Consulting and Services division. The purchase price is paid in cash and totals CAD 1,200,000 (approx. EUR 0.9 million). In addition, the agreement contains an earnout model which will pay the Sellers 30% of PRS gross profits over the next 36 months. PRS's estimate for pro forma net sales in 2007 is EUR 5.3 million with an operating profit of EUR 0.3 million. Established in 2005, PRS is a project resource management company in Calgary. PRS currently engages 36 consultants within project management in various projects in the province of Alberta. After the acquisition, the Dovre Consulting and Services division with its 320 employees will altogether have approximately 55 consultants in Oil Sand Projects and more than 80 in Canada. There are currently approx 35 different projects in Oil Sands in Alberta, and the projected investment levels are increasing. As a result, the market for a larger globally capable consulting and services company with a large international resource base is expected to be promising. Mike Critch, CEO of Fabcon Canada Limited will become CEO of PRS, thus ensuring a smooth transition and maximum synergy in operation between the two companies. This acquisition strengthens Proha's Dovre Consulting and Services division considerably in Canada. Since Proha acquired Dovre in 2001, Dovre has expanded from its headquarter in Norway to become a globally recognized partner with more than 40% of sales from international clients. - PRS's experienced team along with their vast networks will form a solid base for further expansion into the Canadian Western Oil Sands frontier. We also see clear synergies with our operations in North America and international clients globally, says Dovre`s CEO Arve Jensen. Proha's Canadian management team led by Mike Critch considers the transaction a great success for both parties. - Proha acquires a good company. PRS has accomplished a tremendous amount in a relatively short time and we see great growth potential in Alberta region in the forthcoming years. To speed up our growth there, we decided to partner with a locally strong player who has strong business relationships to companies operating in the region. Dovre Consulting and Services division in brief Dovre Consulting and Services division focuses on project management and supply chain management services. Dovre's net sales were EUR 38.1 million in 2006. Dovre's main business is within oil and gas investment projects, but during the last few years the company has also developed services for managing projects and procurement in public sector, and energy, health, IT, telecommunication and civil projects. After the acquisition Dovre Consulting and Services division will employ over 320 people worldwide. www.dovre.biz Proha in brief Proha is one of the leading providers of enterprise level project management software and services. We support customers executing projects and managing project business by providing a comprehensive set of tools and services with the best project management practices. In 2006, the net sales for the continuing operations of Proha Group were EUR 41.0 million (EUR 26.4 million in 2005). After the acquisition Proha Group will employ over 380 people worldwide. www.proha.com For more information: Pekka Pere, CEO, Proha Plc pekka.pere@proha.com Tel. +358-20-4362-000 Distribution: Helsinki Stock Exchange, Major Media