Interim report for the period 1 June - 30 November 2008 for Bang & Olufsen a/s

•For the first half of the 2008/09 financial year, the Group's turnover
totalled DKK 1,533 million against last year's DKK 2,166 million, which was a
historically strong half year. The decline is caused by the global financial
crisis and a lack of product launches. 

In the first half-year, the Group's three largest geographical markets,
Germany, UK and Denmark, recorded a decline in turnover of DKK 296 million. 
The Automotive business segment more than doubled its turnover from DKK 51
million to DKK 104 million. 

In late October, the Group launched a new strategy plan aimed at restructuring
and strengthening the sales organisation as well as focusing the Group's
product development and developing one overall digital technology platform to
support the future product portfolio.  The strategy plan will also secure the
Group's short-term profitability. 

In the second quarter, the Group launched the BeoSound 5 audio system, which
has been well received with sales scheduled to begin two months earlier than
planned. The second quarter also saw the launch of a flexible concept for
BeoVision 7, which is now available with or without DVD and loudspeaker.
Finally, the development of DVB-HD (Full HD) modules was completed so that they
could be launched to the first TV models shortly after the end of the half
year. Coupled with further launches and more efficient distribution with
stronger support for the shops, sales are expected to strengthen. 

The first half year 2008/2009 saw an operating loss of DKK 205 million against
a profit of DKK 166 million last year. Result before tax was negative at DKK
207 million against a profit of DKK 150 million for the first half of 2007/08. 

As announced to the Stock Exchange on 19 December 2008, Bang & Olufsen expects
the 2008/09 financial year as a whole to result in a turnover between DKK 3,100
and DKK 3,300 million. Result before tax is expected to be between DKK -260 to
DKK -380 million not including restructuring costs. 

Restructuring costs are currently expected to be in the region of DKK 100
million. The effect of restructuring and other cost saving measures is expected
to amount to DKK 250 million for the 2009/10 financial year when the aim is to
break even. 

In light of the financial crisis, the Board of Directors will seek approval at
an extraordinary general meeting that the solvency ratio be increased through a
preferential share issue at a favourable rate with expected proceeds of
approximately DKK 400 million, just as it will be proposed that the two share
classes will be combined. 

In connection with the planned preferential share issue, satisfactory
conditions for the company's operational financing is secured with existing
bank connections. 
The share issue will give the company an economic back-up to carry through the
plans to restructure and strengthen the sales organisation and focus the
product development, including the development of a digital technology platform
as the primary element for a future stronger product portfolio. 

Jørgen Worning			Karl Kristian Hvidt Nielsen
Chairman				President, CEO	

For further information: President & CEO Karl Kristian Hvidt Nielsen, tel.: +45
9684 5004.