Mandator AB: Interim report for the period January - September 2004

"Mandator's positive development continues and it is encouraging that we can also report a profit after tax for the third quarter. The utilisation rate is increasing and there is growing interest in IT investments, not least in the telecom industry.

We shall attain increased margins through further specialisation and productification of our offering and by intensifying our partnerships. In order to counter the still pinched - but stable - price levels we shall now increase the proportion of commitments wherein Mandator takes full project responsibility. We have also seen growth in the outsourcing of systems development, validation and testing to Mandator's offices in Estonia, which now boast more than eighty staff members.

Mandator has, after restructuring, a specialised offering and a cost-effective organisation. Increased demand provides room for expansion and increased hourly charges. We now have the potential to start growing again," says CEO Niklas Flyborg.

* Positive earnings
- Sales during the third quarter: SEK 91 (85) million
- EBITA: SEK 9 (-5) million
- Profit/loss after tax: SEK 7 (-11) million
- Utilisation rate increased by eight percentage points to 74%
- Sales per employee increased by 14%
- The EBITA result has been positively affected by work conducted in previous periods now being taken up as income and the dissolution of a reserve for a previously communicated decision by an arbitration board in the amount of SEK 12 million net.

* New business deals within prioritised areas
- The telecom sector offers growth opportunities. During the year, Mandator has doubled its business with Ericsson and has received several assignments from Vodafone and Symbian.
- Within the automotive industry Mandator is strengthening its position through the development of IT-based support for dealers.
- Vägverket's choice of Cenit as its project tool for more than 500 employees is a new breakthrough for one of Mandator's proprietary concepts.
- A new general agreement within professional IT services has been signed with Uppsala County Council.

* The period January-September
- Sales: SEK 278 (309) million
- EBITA: SEK 9 (-29) million
- Profit/loss after tax: SEK -3 (-78) million
- Earnings per share: SEK -0.03 (-0.90)

Stockholm, 28 October 2004

Mandator AB (publ)
Niklas Flyborg, CEO


The full report including tables can be downloaded from the following link:
Questions regarding this report may be addressed to:
Niklas Flyborg, CEO, Tel: +46 705 949 678, niklas.flyborg@mandator.com
Robert Karlsson, CFO, Tel: +46 709 56 51 41, robert.karlsson@mandator.com

Mandator AB
Maria Skolgata 81
Box 17540
SE-118 91 Stockholm
Sweden
Tel: +46 8 402 31 00
Fax: +46 8 402 31 38
www.mandator.com