Song Networks Holding AB Interim Report January 1 - June 30, 2003


STOCKHOLM, Sweden, August 12, 2003 (PRIMEZONE) -- Song Networks Holding AB (Other OTC:SONWF)(Stockholmsborsen:SONW)

Positive cash flow in the second quarter and continued improvements of profitability in operations

-- Revenues were SEK 1,160 million (1,149 the corresponding period the previous year). Revenues from high margin services as data and Internet increased with approximately 15% compared with the first six months of 2002 while low margin services as voice and other decreased. Revenues for the second quarter of 2003 were SEK 581 million (559).

-- Gross margin before depreciation was 43.1% (40.4). Gross margin before depreciation for the second quarter of 2003 was 43.5% (40.7).

-- EBITDA improved the first six months of 2003 to SEK 40 million (-80). EBITDA for the second quarter of 2003 was SEK 26 million (-33).

-- EBIT for the period improved to SEK -61 million (-585). EBIT for the second quarter of 2003 was SEK -17 million (-286).

-- Cash flow for the period was SEK 296 million (-155). Cash flow for the second quarter of 2003 was positive with SEK 9 million (-236).

-- Net result for the period was SEK 20 million (-2,209).

-- Result per share for the period was SEK 0.40 (-1,332).

-- Liquid assets amounted to SEK 560 million at the end of the period (344), including restricted cash. Financial net cash amounted to SEK 423 million (-4,914).


 Corporate information
 Principal executive office:
 Song Networks Holding AB 
 Box 712 SE-169 27 
 Solna, Sweden

 Enquiries:

 Tomas Franzen, CEO 
 Tel: +46 8 5631 01 11 
 E-mail: tomas.franzen@songnetworks.net

 Joachim Jaginder, CFO 
 Tel: +46 8 5631 01 99 
 E-mail: joachim.jaginder@songnetworks.net 

 Gustav III:s Boulevard 18 
 Phone: +46 8 5631 00 00 
 Telefax: +46 8 5631 01 01 
 www.songnetworks.net

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http://www.waymaker.net/bitonline/2003/08/12/20030812BIT00080/wkr0001.doc

http://www.waymaker.net/bitonline/2003/08/12/20030812BIT00080/wkr0002.pdf