1999 Half Year Report

Europolitan reports strong first half year results with pre-tax income up 50% * 104,000 net customer additions * Revenue of SEK 2,003 million * Operating cash flow up 37% * New subscription form for private customers a success * Ongoing success of Europolitan's wireless office service 1999 Half Year Report Customer Growth Europolitan increased its total customer base to 728,000 as of June 30, 1999, including 124,000 active Europolitan EASY prepaid cards. A total of 104,000 (104,000) new customers were added in the first half of 1999, including 75,000 subscribers (60,000). During the second quarter 62,000 (54,000) customers were added, including 53,000 subscribers (27,000). Revenue Europolitan's consolidated first half net sales and other income increased 33% to SEK 2,003 million compared with the same period last year (SEK 1,505 million). Average monthly revenue per subscriber, excluding prepaid cards, increased a strong 7% to SEK 568 (SEK 531), due to continued higher usage per customer and growth in value added services. Average monthly revenue per customer, including prepaid EASY customers, declined 5% to SEK 485 (SEK 509), reflecting the larger proportionate share of prepaid users in the customer base and their lower average usage compared with subscription customers. Operating Expenses and Profit First half operating expenses increased 30% to SEK 1,360 million (SEK 1,052 million), excluding capitalised expenses for own use. This increase was largely due to the high level of subscriber growth, higher traffic volumes and depreciation cost. After net financial expense of SEK 13 million (SEK 32 million), profit after financial items increased 50% to SEK 630 million (SEK 421 million). After tax expense of SEK 177 million (SEK 65), net profit was SEK 453 million (SEK 356 million). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/07/14/19990714BIT00130/bit0001.doc Full Report http://www.bit.se/bitonline/1999/07/14/19990714BIT00130/bit0002.pdf Full Report

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