Year-end report 1 September 2002 - 31 August 2003

Year-end report 1 September 2002 - 31 August 2003 * Sales increased to MSEK 959 (886) and income before tax increased to MSEK 176 (139) and income after tax increased to MSEK 122 * Capital gains in the amount of MSEK 27 (7) are included in income. Net earnings per share improved to SEK 12.64 (10.10). * The operating margin rose to 22% (21) and return on equity increased to 17% (15). * An increased dividend of SEK 9.00 (6.00) per share is proposed. * The acquisition of an additional 30% of Hemsedal Booking AS has been completed, after which SkiStar's ownership in the company is 65% and just over 3,500 beds were added to SkiStar's cabin bookings. * The current booking situation prior to the winter season 2003/04 shows a 6 % improvement in volume as compared to the same point in time in the previous year. Any questions will be answered by: Mats Årjes, Managing tel +46 280 880 80 Director Magnus Sjöholm, Group Tel +46 280 880 90 Financial Officer, ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/10/02/20031002BIT00210/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/10/02/20031002BIT00210/wkr0002.pdf The full report

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