Interim Report january – september 2008

• The Group’s net sales for the period amounted to SEK 24.1 million (0)
• EBITDA amounted to SEK -6.1 million (-6.3)
• EBIT was SEK -8.3 million (-6.7)
• Net loss for the period amounted to SEK 8.6 million (-7.3)
• Earnings per share for the period was SEK -0.37 (-0.39) before dilution

HIGHLIGHTS
• Bluefish products off to a solid start
– Strong revenue development since launch in April
– Established proof of concept for Bluefish business model

• Bluefish raises new capital through preferential rights issue
– Approximately SEK 50 million in additional capital
– New capital to support company expansion

• Growth strategy continues according to plan
– Bringing the Bluefish concept to the rest of Europe
– Strong focus on product investments

BUSINESS UPDATE
Recognising revenues for the first time in April earlier this year, Bluefish is off to a strong start with revenues of SEK 24.1 million for the first nine months of 2008.

Since inception, Bluefish has had a strong focus on building a competitive product portfolio with significant growth and earnings potential. As per 30 September 2008, intangible assets, including product licenses and market authorisations, amounted to SEK 72.7 million, compared to SEK 39.1 million at the beginning of the year.

During the period, the company raised approximately SEK 50 million with the intention of securing the company’s expansion of its product portfolio and launch into new markets.

As of 30 September 2008, the company had 25 employees (6), whereof 14 (0) in India, and 26 products in the portfolio (20), whereof 13 products (4) had been approved.