ProAct IT Group Interim Report First Quarter 2004

STOCKHOLM, Sweden, April 28, 2004 (PRIMEZONE) -- ProAct IT Group:

Structural transaction creates prerequisites for increased profitability The IT Market continues to be marked by capital spending restraint. Customer capital spending is driven mostly by aspirations for cost savings. In an effort to meet this market situation Proact has acquired and combined with Dimension. Integration of the two organizations has resulted in significant cost savings, at the same time as new competencies and customers strengthen the Company's overall position. The business is now well positioned and dimensioned for the current market situation

First quarter summary

-Revenues amounted to MSEK 174.5 (176.7), of which service revenue amounted to MSEK 99.6 (87.8).

-The operating result before amortization of goodwill (EBITA) MSEK -12.1 (-9.9). In addition, costs for action programs have been charged to results in an amount of MSEK - 39.8.

-The net result was MSEK -59.0 (-12.3).

-Cash flow was MSEK -3.5; liquid funds stood at MSEK 120.7 at the end of the period.

-The number of employees was 385 (312) at the end of the period.

Important events during the first quarter -Dimension AB was acquired via a public tender offer which yielded 94.6 percent of the shares outstanding. Dimension was consolidated from February 1, 2004. -Most of the integration with Dimension has been completed. -A number of major transactions have been contracted with, among other, CSC, Geno, Nokia, SEB, Statoil, Telia, Tieto-Tapiola and Tieto Enator.

For further information, please contact: Henrik Holm, President, Telephone: +46-8-410 666 00 e-mail: itgroup@proact.se

ProAct IT Group Interim Report First Quarter 2004

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