Framfab Interim report, January--September 2004

Stockholm, SWEDEN

STOCKHOLM, Sweden, Oct. 21, 2004 (PRIMEZONE) -- Framfab:

 Interim report, January - September 2004
 Stockholm, October 21, 2004


 - Net revenue for January-September was SEK 244.9 million
   (186.1), an increase of 32% for the same period in 2003. Net revenue per
   employee rose to an annual rate of SEK 933 thousand (629), an increase
   of 48% for the same period in 2003. Net revenue for the third quarter
   amounted to SEK 75.0 million (53.8), up 39% compared to the same period
   last year.

 - Earnings after tax totaled SEK 2.8 million (-84.0) for the
   period January-September, and SEK 1.1 million (-11.3) for the third
   quarter. Earnings per share amounted to SEK 0.00 (-0.17) for January-
   September and SEK 0.00 (-0.02) for the third quarter. Operating earnings
   excluding amortization of goodwill were SEK 8.6 million (-50.9) in
   January-September and SEK 2.5 million (-12.4) for the third quarter.

 - Cash flow for January-September was SEK 103.5 million (-3.0),
   including the share issue in the second quarter. Excluding restructuring
   charges, acquisitions and issues of new shares, cash flow amounted to
   SEK -19.5 million (-24.0). Cash flow was SEK -21.1 million (24.8) in the
   third quarter. Liquid funds were SEK 158.6 million as of September 30.

 - During the second quarter, Framfab carried out a rights issue
   priority for existing shareholders. The issue, which was fully
   subscribed, raised approximately SEK148 million after underwriting
   costs. Given Framfab's significantly stronger balance sheet and improved
   operational performance, the company is well positioned to play a
   leading role in the ongoing consolidation of the European Interactive
   Marketing and Consulting sector.

 - While the management and board have refrained from issuing a
   forecast the goal is, however, to be profitable the fiscal year 2004.

 Framfab is a leading European communications specialist in digital media
 and interactive solutions based on Internet technology. Most of
 Framfab's customers are large international companies, including 3M,
 American Express, AXA, Barclays Capital, Cadbury Schweppes, Carlsberg
 Breweries, the Coca-Cola Company, Danske Bank, DuPont, Ericsson, Hydro
 Texaco, Kellogg's, Kraft Food International, Nike, Nobel Biocare, Philip
 Morris International, Philips, Postbank, Rezidor SAS, SAAB, Sara Lee
 Douwe Egberts, Swedish Match, Vodafone, Volvo Car Corporation, Volvo
 Group and UBS. Framfab operates in Denmark, Germany, the Netherlands,
 Switzerland, Sweden and the United Kingdom. The company is quoted on the
 O-list, Attract40 of Stockholmsborsen (ticker symbol FRAM). For
 additional information, see

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