Highlights January - June 2004

Highlights January - June 2004 - Revenue for the second quarter amounted to E 10.1 million (E 8.8 million), representing a 15 percent (0 percent) growth versus the corresponding period last year. - Revenue for the first 6 months amounted to E 19.8 million (E 17.7 million), a 12 percent (0 percent) growth versus last year. - Constant currency growth versus last year for the first 6 months amounted to 21 percent (15 percent excluding Nova Medical acquisition), up from 18 percent prior quarter and 13 percent at year end. - The robust membership growth continued for the second quarter with 4,600 new members and for the first half 9,600, bringing the total member-base by mid year to 126,600, a 19 percent (7 percent) increase versus the prior year period. - The operating loss (EBIT) for the second quarter amounted to E 0.1 million (E 0.3 million) and for the first half to E 0.3 million (E 0.5 million). - The operating profit before depreciation and amortization (EBITDA) amounted to E 0.6 million or 6.4 percent of revenue ( E 0.5 million or 5.1 percent of revenue) for the quarter and to E 1.3 million or 6.5 percent of revenue ( E 1.0 million or 5.5 percent of revenue) for the 6 months. - The loss after tax for the quarter amounted to E 0.5 million (E 0.5 million) and for the 6 months amounted to E 0.7 million (E 0.9 million). The loss per share was E 0.04 for the quarter (E 0.04) and E 0.06 for the 6 months (E 0.08). - After the end of the reporting period, Medicover acquired a Polish laboratory company, adding to the existing Nova Medical operation in Poland. Investors relations contacts Fredrik Rågmark Managing Director Phone: +32 2 357 55 77 E-mail: info@medicover.com Joe Ryan Financial Director Phone: +32 2 357 55 77 E-mail: info@medicover.com Medicover Address: c/o Belro Medical S.A., Waterloo Office Park, Building O, Drève Richelle 161, B-1410 Waterloo, Belgium Phone: +32 2 357 55 77 Fax: +32 2 357 55 05 www.medicover.com E-mail: info@medicover.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/2004/08/25/20040825BIT20020/wkr0001.pdf The full report

About Us

Medicover is a leading international healthcare and diagnostic services provider in Poland, Germany, Romania, Ukraine and certain other markets, primarily in Central and Eastern Europe (“CEE”). Additionally, Medicover is in the process of entering the fast-growing Indian healthcare market in order to expand its geographical footprint and further leverage its emerging markets capabilities. Medicover offers a broad range of healthcare services and a significant hub-and-spoke diagnostic laboratory network, supported by extensively developed proprietary software and information systems infrastructure. Medicover operates through two divisions: Healthcare Services and Diagnostic Services.


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