Interim report for the period 1 June 2008 - 28 February 2009 for Bang & Olufsen a/s

For the first three quarters of the financial year, the Group's turnover
totalled DKK 2,173 million against DKK 3,207 million for the same period last
year. The Group's gross margin was 40.4 per cent against 46.2 per cent for the
same period last year, which is primarily owing to the fact that some of the
production costs are fixed costs which take time to scale down. 

Operating result was a loss of DKK 388 million against a profit of DKK 219
million for the same period last year. The result before tax was negative at
DKK 414 million against a profit of DKK 191 million in 2007/08, a decline of
DKK 605 million. The result was negatively affected by restructuring costs of
DKK 105 million. 

As part of its Pole Position strategy plan, which was presented in October
2008, Bang & Olufsen is focusing the product development aimed at launching
more new products. The initial results of the efforts already became evident in
the third quarter when Bang & Olufsen globally launched  the digital music
system, BeoSound 5, earlier than assumed. In keeping with the strategy of
offering the complete integration of different products and functions in the
home, Bang & Olufsen also launched Master Link Gateway, which can link the
BeoLink system with Home Automation systems from other manufacturers. During
the period under review, Bang & Olufsen also extended the flexible concept for
BeoVision 7 to include the 40 inch version, which offers more price
flexibility. Finally, the company launched a DVB-HD module to meet the new
standards within digital TV transmission. 

Immediately after the end of the quarter, Bang & Olufsen launched BeoVision
4-103, which in size and function sets new standards. At the start of the
fourth quarter, Bang & Olufsen also launched BeoVision 8-40, which is offered
at an attractive price level and at the same time has an impressive sound and
picture quality. 

In the third quarter of 2008/09, Automotive announced the expansion of its
portfolio for both Audi and Aston Martin. In addition, Automotive has signed a
contract with a potential new partner in the premium segment regarding the
first phases in the development of sound systems for this partner. 

In line with the Pole Position strategy, Bang & Olufsen continued  to focus on
providing more efficient support and development of Bang & Olufsen's dealer
network through one overall, global sales organisation. As part of this
strategy, the company has prepared and started the set up of a Shared Service
Centre for professional and efficient servicing of the company's dealers. 

Finally, the company has adhered to the strategy plan and initiated a range of
restructurings and adjustments of the organisation in order to ensure
profitability in its  operations. Rigorous cost control started to pay off at
the end of the third quarter. The Group's capital tied up in debtors and
inventories has been reduced as a result of the lower level of activity and the
management's focus on reducing working capital. 

Owing to uncertain global market developments and declining incoming orders,
Bang & Olufsen a/s expects that the 2008/09 financial year as a whole will
result in a turnover in the region of DKK 2,800 million. The result before tax
is expected to be in the region of DKK -510 million including extraordinary
restructuring costs of around DKK 105 million. The estimate for 2009/10 for a
break-even result before tax is maintained, based on turnover in the region of
DKK 3,200 million. The growth in turnover is primarily driven by the launch of
new products. 

At the extraordinary general meeting on 4 March, 2009, the Board of Directors
was authorised to increase the solvency ratio through a preferential
subscription right issue at a favourable rate with expected proceeds of around
DKK 400 million. At the current time, the company has received positive
indications that are expected to secure proceeds in the region of DKK 450
million. The prospectus for the issue is expected to be published shortly. 

Jørgen Worning			Karl Kristian Hvidt Nielsen
Chairman				President & CEO

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