Framfab Wins New Customers in a Cautious Market

Interim report January 1 - June 30, 2002 Framfab AB (publ) Framfab Wins New Customers in a Cautious Market · Operating earnings (EBIT) for April-June were SEK -23.7 million (- 157.3). The SEK -32.4 million (-1,702.8) operating earnings for the first six months included SEK -8.8 million in restructuring costs. Total revenue was SEK 87.8 million (154.5) for April-June and SEK 195.7 million (418.5) for January-June. · Liquid funds amounted to SEK 89.0 million at the end of the second quarter. Cash flow from operating activities totaled SEK -5.6 million (-114.2) for the second quarter, as opposed to SEK -15.3 million for the first quarter. · As a result of the cautious market, Framfab adopted measures to lower costs, including the reduction of the group's workforce by 45. The lower costs should boost earnings somewhat in the third quarter and have a full impact in the fourth quarter of 2002. Framfab had 563 employees at the end of the second quarter. · During the year, Framfab entered into a number of new long-term agreements with organizations, including Avanturo, BNN, Central, Ellipsus, Finanz- und Versorgungsdienst GmbH (FDV), Haftplichtverband der Deutschen Industrie V.a.G. (HDI), the Knowledge Foundation and Renault Sweden. Meanwhile, Framfab concluded new general agreements with the Volvo Group and AstraZeneca. · During the second quarter, Framfab won a Grand Prix for its nikefootball.com website and a Gold Lion for Nike Freestyle at the Cyber Lions Awards in Cannes. The jury called nikefootball.com "the best thing that happened on the web last year". · Framfab's new initiatives includes Web Services and the packaging of established installations and projects as products, for launch during the second half of the year. The full report including tables can be downloaded from the enclosed links. www.waymaker.se or www.framfab.com Framfab is a leading provider of consulting services and business solutions based on Internet technology. Most of Framfab's customers are big international companies, including 3M, AXA, the Coca-Cola Company, Danske Bank, Electrolux, Ericsson, Hydro Texaco, IKEA, Kellogg's, Maersk Sealand, NEC Packard-Bell, Nike, Observer, Postbank, Quelle Versicherungen, SAAB, Volvo Car Corporation, Volvo Group and UBS. Framfab operates in Denmark, France, Germany, the Netherlands and Sweden. The company is quoted on the O list of the Stockholm Stock Exchange (ticker symbol FTID). For more information, please visit www.framfab.com. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/08/21/20020821BIT00060/wkr0001.pdf The full report