Year-end report 1 January - 31 December 2004

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Quarterly report, 1 October - 31 December 2004 Year-end report 2004 Best quarter to date for Pointsec

FOURTH QUARTER • Sales for the quarter increased 32% to SEK 61.8 M (46.8). • Revenues from Pointsec operations amounted to SEK 43.5 M (30.0), corresponding to 70% (64%) of total revenues and the highest quarterly revenue to date. • A profit of SEK 1.0 M (11.8) was reported after net financial items. SEK 5.5 M in non-recurring costs for discontinued operations was charged against earnings. • Profit after tax amounted to SEK 11.4 M (10.4). FULL YEAR JANUARY – DECEMBER • Sales increased by 29% to SEK 217.4 M (168.6). • Total revenues from Pointsec operations increased by 63% to SEK 149.5 M (91.9). • Profit after tax amounted to SEK 24.3 M (0.6) and shareholder’s equity totaled SEK 175 M (134). • Profit per share amounted to SEK 2:29 (0:06). DIVIDEND • The Board of Directors proposes a dividend of SEK 1:25 (0:25) per share, corresponding to a total of SEK 13.7 M (2.6). Protect Data CEO Thomas Bill’s comments: • The fourth quarter of 2004 was the strongest in Pointsec’s history to date. Sales for the business area increased by 45 percent to SEK 43.5 M. It was a sign of strength that sales increased without receiving any single dominant order, indicating a more stable earnings potential. This was supported by the steady increase in the share of recurring revenues, which amounted to SEK 13.3M (8.7) in the fourth quarter. • The concentration of the Company’s business to Pointsec and the discontinuation of the Nordic business area Solutions that was implemented during the fourth quarter showed a positive outcome. Compared with previous quarters during the year, this focusing contributed to nearly a doubling of Pointsec sales in the Nordic region, which amounted to SEK 16.1 M in the fourth quarter. • Business in the important US market continued to develop favorably, and a powerful organization is now in place. During the year orders totaling SEK 5.5 M were received from one of the world’s largest engineering companies. Deliveries will continue during 2005, since the customer has now signed a corporate contract. New laws and regulations in both the US and the EU that place more stringent requirements on companies to protect sensitive information lead Protect Data to predict growing international interest for Pointsec during 2005. • Newly established operations now achieve profitability more quickly, since Pointsec has become an increasingly established brand. The office in Dubai, which was started in September, received an important order in December valued at SEK 1.7 M. • As a result of the company’s positive development and our strong financial position, the Board of Directors proposes that the Annual General Meeting approve an increase of the dividend to SEK 1.25. • We expect continued increases in sales for Pointsec operations during 2005. Protect Data sees a growing insight among major companies for the need to protect important information, which is strongly influenced by the more stringent requirements for security routines. The Group’s profit compared with 2004 is expected to continue to increase during 2005.

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