FLS Industries A/S - interim report 1 January

The Board of Directors of FLS Industries A/S has today reviewed and adopted the interim report for the first three months of 2002. The full interim report is accessible via the internet at www.flsindustries.com/investor/fls_reports.htm The main conclusions are as follows: - Earnings before interest and tax (EBIT) amount to DKK -24m (2001: DKK - 76m) - the sale of ships by Aalborg Portland had a DKK 85m positive impact on the result. - Cash flow from operating activities amounted to DKK 210m - a DKK 732m improvement on the year before. - Consolidated net interest-bearing debt fell to DKK 4.8bn - DKK 1.2bn less than the year before. - FLS miljø is being restructured. The boiler activities are likely to be sold, plans for closure of the manufacturing plant at Tønder are being considered, and FLS miljø will discontinue its biomass business. - FLS wishes to sell its shares in NKT during June. - FLS and Højgaard Holding have engaged a consultant in the attempt to sell the shares in Secil. - When releasing the half-yearly report FLS will present its strategy for value optimisation. - FLS maintains its forecast of EBIT and EBT being better than the year before based on a turnover of approximately DKK 19bn before disposals. FLS Industries A/S Corporate Public Relations

FLS Industries A/S - interim report 1 January - 31 March 2002