Interim report January-June 1999

Summary * Income after net financial items rose by 45 per cent to SEK 148 million (102m). This corresponds to an increase of 52 per cent for comparable hotels. * Sales rose by 15 per cent to SEK 2,602 million (2,265m). For comparable hotels, sales rose by 7 per cent. * The cash flow from current operations has been improved by SEK 172 million and stands at SEK 253 million. * Nine new hotels were added to the Group's portfolio during the first six months of the year, four of which are located in Denmark, four in Estonia and one in Norway. The Group wound up operations at one hotel in Denmark and at two hotels in Sweden during the period. Further, agreements have been reached for operating a further three hotels. * Earnings per share rose to SEK 1.57 (1.04) based on the number of shares following the 3 for 1 share split that was effected on 3 May 1999. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/08/10/19990810BIT00230/bit0001.doc Full Report http://www.bit.se/bitonline/1999/08/10/19990810BIT00230/bit0002.pdf Full Report

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