BIOHIT OYJ      STOCK EXCHANGE RELEASE        7.5.2003    AT 10:00


The  net  sales  of the Biohit Group totalled MEUR 6,4  (MEUR  6,5  1-
3/2002). The operating loss before goodwill amortization was MEUR  0,0
(MEUR  -0,3). The loss for the period was MEUR 0,3 (MEUR -0,6). Biohit
continued especially the evaluations of the diagnostics products,  and
the  further development of the international marketing and  sales  of
the liquid handling and diagnostic products.

Net Sales

The  net  sales of the Biohit Group for the reporting period  totalled
MEUR  6,4  (MEUR 6,5). The net sales were generated primarily  by  the
sales  of liquid handling products, their disposable tips as  well  as
maintenance services.

The  strengthening  of  the  euro,  the  elimination  of  intermediate
products in Russia, the lag facing the German economy as well  as  the
consequences  of  the  Iraq war and the SARS epidemy  had  a  negative
impact on the growth of the Group net sales.


The  operating  loss before goodwill amortization for the  period  was
MEUR  0,0 (MEUR –0,3). The board decision on the third quartal of 2002
to  prolong the goodwill amortization period related to Locus Genex Oy
from seven to 20 years improves the comparable Operating profit by 0,1
MEUR during the reporting period.

The loss for the period was MEUR 0,3 (MEUR -0,6).The income taxes MEUR
0,1)  have  been  accounted for on the basis of  the  result  for  the
period.  However, deferred tax assets relating to the  taxable  losses
have not been accounted for.

Balance Sheet

At  the end of the first quartal of 2003 the shareholders’ equity  was
MEUR  15,7 (MEUR 17). Total assets on the balance sheet were MEUR 23,0
(MEUR 25,5). The equity ratio at the end of the first quartal of  2003
was 63,8% (63,1%).


The  cash  flow provided by operating activities during the  reporting
period  was MEUR 0,2 negative (MEUR 0,2 positive 1-3/2002). The change
is mainly due to the increase in working capital. The liquid assets at
the end of the reporting period was MEUR 1,4 (MEUR 2,2).


The  gross investments of the reporting period totalled MEUR 0,2 (MEUR
0,7).  The  major  part  of  the investments consisted  of  machinery,
equipment, which improve the efficiency of production.


The  average  number  of personnel totalled 284 during  the  reporting
period  (301  during the corresponding period in 2002), of  which  159
were  employed  by the parent company (181 in 2002)  and  125  by  the
subsidiaries  (120 in 2002). The number of personnel was increased  in
the  subsidiaries  in  order  to strengthen  the  international  sales

Main Events of the Reporting Period

Liquid Handling

In the business area of liquid handling Biohit concluded the following
major agreements.

Biohit  concluded  an  OEM-agreement on  the  basis  of  which  Biohit
manufactures for the U.S. Hamilton Company electronic pipettors, which
are based on Biohit’s electronic ePET pipettors.

During  the  reporting period Biohit concluded a Private Label  -based
agreement  for  the  production of electrnic pipettors  for  the  U.S.
company Tyco Healthcare Group LP.

Moreover,  Biohit  concluded an OEM-agreement with  the  U.S.  company
Microtyping Systems, to whom Biohit will deliver electronic pipettors.

During  the  reporting period Biohit launched new tip  boxes  and  the
Refill System for the tips of liquid handling products. The tip  boxes
are  available either as presterilized or non-sterilized.  The  Refill
System  is  enivornmentally  friendly  as  the  packaging  is  totally


The  evaluations of the test panel for determining Helicobacter pylori
-infection  and  atrophic  gastritis and for  screening  the  risk  of
gastric  cancer  and  peptic  ulcer from blood  samples  (GastroPanel)
continued according to plans.

By  the  end  of  the  reporting period eighteen clinical  evaluations
related  with  the GastroPanel had been completed. Fourteen  had  been
made in Europe, three in Asia and one in North America. The number  of
patients studied in the evaluations totalled 3,408. The results of the
said  evaluations  have  been  published internationally  in  numerous
scientific  articles.  At the end of the reporting  period  altogether
twenty  evaluations  were in progress. By the  end  of  the  reporting
period  ten evaluations were in progress in Europe, four in Asia,  two
in  North America, one in South America, two in Africa, and one in the
Near  East.  The  number of patients to be studied in  these  on-going
evaluations  totals  16,505.  By  the  end  of  the  reporting  period
agreements had been made to commence seven new evaluations in  Europe,
one  in North Americaand one in South America. The evaluations promote
the  establishment  of  the reliability of  the  GastroPanel  and  the
screening  and  diagnosis of diseases related with the mucosa  of  the

During the reporting period Biohit commenced the production of the new
versions  of  the GastroPanel test kits (Pepsinogen I, Pepsinogen  II,
Gastrin-17  and  Helicobacter pylori). The second  generation  of  the
GastroPanel  test kits have been improved by reducing  the  standards,
shortening  the  incubation  times and  unifying  buffers,  which  all
improve the cost efficiency of the test kits.

During  the  reporting  period  Biohit received  the  possibility  for
receiving   patient  reimbursement  from  the  Social  and   Insurance
Institution  of  Finland for the GastroPanel test  kit.  The  taxation
price  for the GastroPanel examination is EUR 70,50. The reimbursement
totals EUR 42,78, which is 54% of Biohit’s list price (EUR 79,30).  It
can  be  concluded  that the reimbursement price is favorable  as  the
reimbursement for all laboratory examinations was 32,6% in Finland  in

During  the reporting period Biohit continuted the preparation of  new
distribution agreements for the GastroPanel test kits.

Equity Turnover and Price Development

The  turnover  of  Biohit’s B-shares on the NM-list  of  the  Helsinki
Exchanges  was during the reporting period EUR 197,757 and the  number
of  shares 141,071. The highest price was EUR 1.77 and the lowest  EUR
1.22. The average price was EUR 1.40.

Prospects for 2003

Net  sales  is  expected to develop favorably in  2003.  However,  the
uncertainties  relating with the general economic development  of  the
major market areas renders the drawing up of forecasts difficult.  The
positive  expectations relating with liquid handling  products  result
from  the  favorable feedback received from the markets  for  the  new
mechanical  pipettor range (mLINE), which was launched at the  end  of
2002.  Moreover,  during 2003 Biohit will launch new  liquid  handling
products.  Although it is estimated that the major part of  net  sales
will   be  generated  by  liquid  handling  devices  in  2003.  Biohit
anticipates that the sales of diagnostics will demonstrate an increase
in 2003.

In  order  to  improve  the  profitability Biohit  will  continue  the
adaptation  program of its activities, which was  taken  into  use  in
2002.  In  accordance  with  the program  Biohit  will  intensify  its
marketing efforts and cut costs.

Group Income Statement

                                 1-3     1-3                     1-12
                                2003    2002  Change   Change    2002
                                MEUR    MEUR    MEUR        %    MEUR
Net sales                        6,4     6,5    -0,1       -1    25,4
Operating expenses              -6,1    -6,4    -0,3       -5   -24,4
Ebitda                           0,3     0,1     0,2      385     1,0
Depreciation without                                                 
goodwill amortization           -0,4    -0,4     0,0        9    -1,5
Operating profit before                                              
goodwill amortization            0,0    -0,3     0,3       85    -0,6
Goodwill amortization           -0,1    -0,2     0,1       59    -0,6
  Operating profit / loss       -0,1    -0,5     0,4       73    -1,2
Financial expenses (net)        -0,1    -0,0    -0,1      -97    -0,3
Profit/ loss before                                                  
extraordinary items             -0,2    -0,5     0,3       60    -1,5
Extraordinary income             0,0     0,0     0,0        0     0,0
Extraordinary costs              0,0     0,0     0,0        0     0,0
Profit / loss before taxes      -0,2    -0,5     0,3       61    -1,5
Profit / loss for the period    -0,3    -0,6     0,3       53    -1,8

                        31.3.2003        31.3.2002       31.12.2002
Assets                 MEUR       %    MEUR        %    MEUR      %
Non-current assets                                                 
 Intangible assets      4,1      18     4,7       18     4,2     19
 Tangible assets        6,2      27     6,6       26     6,4     29
 Financial assets       0,1       0     0,3        1     0,2      0
Current assets                                                     
 Inventories            3,6      16     4,1       16     3,6     16
 Receivables            6,3      27     6,1       24     5,3     24
 Deferred tax                                                      
  assets                1,3       6     1,5        6     1,3      6
 Cash and cash                                                     
  equivalents           1,4       6     2,2        9     1,4      6
Total assets           23,0     100    25,5      100    22,4    100
Liabilities and                                                    
Shareholders equity                                                
  Share capital         2,2      10     2,2        9     2,2     10
  Share premium        15,4      67    15,1       59    15,4     69
 Accumulated losses    -3,1     -13    -1,5       -6    -2,8    -13
 Capital loans          1,2       5     1,2        5     1,2      6
Minority interest       0,1       0     0,1        0     0,1      0
Long term                                                          
liabilities             3,0      13     2,0        8     2,5     11
liabilities             4,2      18     6,4       25     3,8     17
Total liabilities                                                  
and shareholders                                                   
equity                 23,0     100    25,5      100    22,4    100

                                    1-3            1-3         1-12
                                   2003           2002         2002
Cash  flow  from  operating                                        
Profit    /   loss   before                                        
extraordinary items                -0,2           -0,6         -1,5
Adjustments                         0,6            0,6          2,4
Change   in   net   working        -0,4           -0,3         -0,1
Interest     and      other        -0,1           -0,1         -0,2
financial items paid
Interests received                  0,0            0,0          0,1
Income taxes paid                  -0,1            0,0         -1,2
Net    cash    flow    from        -0,2            0,2         -0,5
operating activities
Net    cash    flow    from                                        
investing activities:
Investments in tangible and        -0,2           -0,7         -1,7
intangible assets
Grants received                     0,0            0,1          0,1
Net    cash    flow    from        -0,2           -0,6         -1,6
investing activities
Net    cash    flow    from                                        
financing activities:
Proceeds from share issue           0,0            0,2          0,6
Increase in long term loans         0,6            0,1          0,9
Repayments  of  long   term                       -0,2         -0,5
loans                              -0,1
Net    cash    flow    from         0,5            0,1          1,0
financing activities
Net increase (+) / decrease         0,0           -0,3         -1,1
(-)   in   cash  and   cash
Cash  and  cash equivalents         1,4            2,5          2,5
at  the  beginning  of  the
Cash  and  cash equivalents         1,4            2,2          1,4
at the end of the period

                         1-3/03   1-3/02    Change Change-%  1-12/02
Investments, gross                                                  
   fixed assets MEUR        0,2      0,7     - 0,5      -71      1,6
   % net sales              3,4     11,6                         6,2
Employees average           284      301       -17       -6      303

                                 31.3.2003     31.3.2002   31.12.2002
                                      MEUR          MEUR         MEUR
Mortgages and shares pledged                                         
for liabilities                                                      
Loans from financial                                                 
institutions                           2,6           1,7          2,1
  Corporate mortgages                  3,4           3,4          3,4
  Pledges on leaseholds                1,5           0,0          1,5
Other long-term liabilities            0,8           0,8          0,8
  Mortgages                            0,8           0,8          0,8
  Leasing commitments                  3,8           4,2          4,1

                                 31.3.2003     31.3.2002   31.12.2002
  Equity ratio, %                     63,8          63,1         66,9
  Earnings per share, EUR            -0,02         -0,05        -0,14
    Shareholders’ equity per          1,12          1,24         1,15
     share, EUR                 12.937.627    12.688.280   12.827.781
Average number of shares                                             
Number of shares at the  end    12.937.627    12.747.627   12.937.627
of the period

Interest on Capital Loans

The unrecorded interest accrued on capital loans totalled MEUR 0,5  on
March 31, 2003 and MEUR 0,5 on December 31, 2002.

Derivative contracts

The Group does not have any off balance sheet financial instruments.

The figures of the Interim Report are unaudited.

Helsinki, May 7, 2003

Board of Directors of Biohit Oyj

Overview on Biohit

Biohit develops, manufactures and markets liquid handling products and
accessories  as well as diagnostic test systems for use  in  research,
health care and industrial laboratories.

In  the  area of liquid handling Biohit’s main products are electronic
and   mechanical  pipettors  and  their  disposable  tips.  Currently,
Biohit’s range of electronic and mechanical pipettors is the widest in
the  world.  Biohit  is  also the global market leader  of  electronic

In  the  area of diagnostics Biohit develops, manufactures and markets
test kits based on the enzyme immunoassay (EIA) -method and monoclonal
antibodies  for  the  diagnosing and screening of different  types  of
disease.  Biohit’s  diagnostic product range includes,  e.g.,  a  test
panel  for  diagnosing and screening H.pylori -infection and  atrophic
gastritis  as  well  as for assessing the risk of gastric  cancer  and
peptic  ulcer from blood samples (the GastroPanel), as well  as  tests
for   the   detection  of  lactose  intolerance  and  systemic   lupus
erythematosus (SLE).

In  order  to  be  able to offer complete analyzing  systems  for  its
customer base, Biohit’s product range includes, in addition to  liquid
handling  products and diagnostics, instruments used for the  analysis
of  test results. Moreover, Biohit offers as a part of its product and
marketing  strategy  maintenance, calibration  and  training  services
through the Group companies and its distributors.

Biohit’s  production plants are located in Kajaani and  Helsinki.  The
sales  and  marketing  subsidiaries are located  in  France,  Germany,
Italy,  Japan, Russia, the U.K. and the U.S. Moreover,  Biohit  has  a
representative  office in China. Biohit exports 97% of its  production
and the degree of domestic production in 95%,

Biohit Oyj

Helena Hentola
Corporate Communications

Additional information:  Osmo  Suovaniemi, Professor, President & CEO,
                         tel:  +358-9-773 861, direct:  +358-9-773  86
                         250,  mobile: +358-40 745 5605, fax:  +358-9-
                         773 86 205,


Distribution:            The Helsinki Exchanges
                         The Financial Supervisory Authority