Interim Report January - March 2005

This is Investor’s first interim report prepared in accordance with International Financial Reporting Standards (IFRS). Investor’s financial flexibility was further strengthened and leverage declined to 11 percent. Shares were sold in AstraZeneca, ABB and Scania for SEK 2,207 m., SEK 788 m. and SEK 550 m., respectively. Five new investments were made in the New Investments business area. Investor Growth Capital successfully sold Entific. In March, EQT announced that it is participating in a public tender offer to acquire the listed company ISS A/S in Denmark. In the beginning of April, EQT reported that it is selling Dometic. The mobile broadband operator 3 Scandinavia had 414,000 subscribers in Sweden and Denmark at the end of March. Average revenue per user continued on a healthy level. The Grand Group sold Berns and two buildings next to the Grand Hôtel in Stockholm to release capital for its hotel business.