INTERIM REPORT FOR THE PERIOD JANUARY 1 - JUNE 30, 2004

INTERIM REPORT FOR THE PERIOD JANUARY 1 - JUNE 30, 2004 New framework agreements with Ericsson and IBM, increased demand and continued positive results First half year 2004 compared with first half year 2003* - Net sales rose to SEK 326 million (compared with SEK 213 million in the corresponding period of 2003). - Operating profit before goodwill amortization (EBITA) rose to SEK 15 million (-69), producing an operating margin of 5% (-32) for the period. - Profit after tax amounted to SEK 9 million (-70). - Earnings per share amounted to SEK 0.16 (-2.23) for the period. - Cash flow from operating activities, excluding the liquidity effect of previous structural costs, amounted to SEK 19 million (-55). Second quarter 2004 compared with second quarter of 2003* - Quarterly net sales amounted to SEK 161 million (102). - Operating profit before goodwill amortization (EBITA) was SEK 4 million (-53). - Three strategically important agreements were signed during the quarter: new framework agreements with Ericsson and IBM and a renewed framework agreement with AstraZeneca. *Acando AB included as of July 1, 2003. "Demand for our services has increased and is especially evident in improvement projects for existing enterprise systems, purchasing functions and shared service centers," says Lars Wollung, President and CEO of AcandoFrontec. "We have raised our sales in customer segments where we are strong, such as manufacturing, telecom and the public sector." For more information, please contact Lars Wollung, President and CEO telephone +46 730 21 14 26 Bertil Carlsén, Executive Vice President & CFO telephone +46 730 21 10 92 Jan Rehn, Director of Communications and Investor Relations telephone +46 709 73 11 79 Financial information is also available on our website www.acandofrontec.com AcandoFrontec is a management and IT consulting company that identifies and quickly implements performance improvements. Our consultants are business integration specialists who help customers to achieve improvements by developing processes, organizations and IT solutions. Our work is strongly focused on the bottom line and on our responsibility for ensuring that customers receive the improvements they expect from their investment. The company has just over 500 employees at 5 offices in Sweden. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/16/20040816BIT20030/wkr0001.pdf The full report