Poolia: Interim Report for January 1 -- June 30, 2003

STOCKHOLM, Sweden, Aug. 14, 2003 (PRIMEZONE) -- Poolia AB: an Extraordinary General Meeting held after the close of the period voted in favour of the redemption of Poolia shares. As a result, SEK 137.0 M will be transferred to shareholders. The motion to redeem every fifth share in return for a cash payment of SEK 30 per share was supported by 99.3% of the shareholders. It has been concluded that Poolia's liquid funds are sufficient to safeguard the company's continued expansion, both organically and through supplementary acquisitions, in accordance with Poolia's strategy.

Market and business climate

Since there were no signs of a recovery in market conditions during the second quarter, the demand situation remained unchanged compared with the first quarter. From the viewpoint of profitability, the second quarter of every year is always the most difficult period, since it contains fewer days of invoicing. This year, the situation is compounded by the fact that Poolia has a larger percentage of consultants employed on fixed monthly salaries compared with previous years. In Norway, the workforce has been reduced in order to more rapidly attain profitability.

Poolia Professionals

The company's objective is to be perceived as the quality leader in the market for professional staffing. Statistics from the latest quarter show that 98% of Poolia Professionals' customers are satisfied with the service they receive.

Uniflex

Despite an unchanged business climate, the subsidiary Uniflex, which offers services in the generalist segment, reports improved operating results. Uniflex's sales grew by 28% compared with the year-earlier period.

For further information, please contact: Mats Edlund, President and Chief Executive Officer (Tel: +46-8-555 650 50) Kjell-Ake Jagenstedt, Chief Financial Officer (Tel: +46-8-555 650 09)

Poolia is a leading player in the market for professional staffing and is active in approximately 20 locations in Sweden, Norway, Denmark, Finland and Germany. Operations include the Temporary Staffing, Recruitment/Search and Outsourcing service areas. Poolia is divided into two brands - Poolia Professionals and Uniflex. Poolia Professionals provides professional staffing in the Accounting, Bank & Finance, IT, Office, Human Resources, Payroll, Technical, Sales & Marketing, Legal, Healthcare and Life Science service segments. The subsidiary Uniflex is one of the largest companies in the generalist staffing segment in Sweden. Uniflex offers services in the receptionist, customer service, switchboard, call-center, industry & warehousing and facility services areas.

INTERIM REPORT FOR JANUARY 1 - JUNE 30, 2003

Highlights of the period

- Sales during the period declined 2.9% to SEK 389.6 M (first half of 2002: 401.4). .A loss after tax of SEK 14.2 M was reported (loss: 28.9).

- The loss per share was SEK 0.62 (loss: 1.25). .A loss after financial items of SEK 13.9 M (loss: 38.0) and an operating loss of SEK 20.5 M (loss: 45.9) were reported.

- CEO Mats Edlund will leave Poolia during the year. Recruitment of a new Chief Executive Officer has been initiated

- Significant events after period end: An Extraordinary General Meeting held on July 3, 2003, voted in favour of the redemption of 4,565,744 Poolia shares corresponding to SEK 137.0 M and the transfer of SEK 262.0 M from the premium reserve to unrestricted reserves.

For further information, please contact: Mats Edlund, President and Chief Executive Officer (Tel: +46-8-555 650 50) Kjell-Ake Jagenstedt, Chief Financial Officer (Tel: +46-8-555 650 09)

Poolia: Interim Report for January 1 -- June 30, 2003

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