Interim Report RIAS A/S

| Source: Rias A/S

Interim report

The positive development described in the half-year report has continued during the third quarter of the accounting year.

We have seen a growth in the sales within the Building and Construction sector, where it seems that the private consumption has led to increasing demands within the DIY and building merchants. But also the positive spring weather has given optimal conditions within the Building & Construction sector which has affected sales.

The activity level within the industry sector has shown positive signs and has led to increased sales of the Company’s industrial products. The very reluctant attitude we have experienced previously has now been replaced by a more confident trust in the future. This leads to a forward-looking purchase pattern from our customers. The last couple of months the PMI index confirm this positive trend. The Processing Department has continued a reasonable increase of the activity level the past months, so all in all a positive development in the Industrial Division.

We maintain a high level of focus on strategic projects, including expanding export sales and we are consistently working with the implementation of the plans.

RIAS A/S estimates based on the abovementioned and the earlier announced result level for the accounting year that a result in the level of DKK 7-10 million DKK before tax is still applicable. However, the result is predicted to lie in the upper end of the range.

Yours faithfully

Henning Hess