NeoNet’s Year-End Report 1 January – 31 December 2004

The Year in Summary · The operating revenues increased by 34% to SEK 206.9 m (SEK 154.1 m). · The earnings after tax amounted to SEK -20.3 m (SEK -47.1 m). · The earnings per share amounted to SEK -0.40 (SEK -1.05). · The operating earnings before depreciation and net financial items improved and amounted to SEK 26.6 m (SEK -17.0 m). · A new trading platform with significantly enhanced performance and increased flexibility and capacity was launched. Despite the finalization of the platform, investments were reduced by 47% to SEK 16.6 m (SEK 31.7 m). · NeoNet entered into co-operations with SimCorp and Thomson Financial to expand the distribution network. · Trading on three new exchanges was added to the offering: Virt-x, Lisbon and Madrid. · Simon Nathanson took up the position as the company’s President and CEO on March 15. · NeoNet’s issue of debentures with detachable warrants and with preferential rights injected SEK 50.6 m before issue and guarantee costs of SEK 2.4 m. The Quarter in Summary · The operating earning increased by 16% to SEK 51.7 m (SEK 44.7 m). · The earnings after tax amounted to SEK -4.5 m (SEK -14.6 m). · The earnings per share amounted to SEK -0.09 (SEK -0.30). · Investments for the quarter were reduced to SEK 3.2 m (SEK 11.3 m) · A co-operation was established with Swiss SIS SegaInterSettle for an integrated trading, clearing and settlement solution. · The integration of the operation taken over in connection with the Lexit acquisition was completed, which means that all trading now goes through NeoNet’s system. Events After the End of the Period · A co-operation has been started with Redeye to offer clients independent analysis. · New client functionality has been added to NeoNet’s trading platform. CEO’s Statement “We have carried out many positive changes to increase efficiency and form a foundation for growth. The outcome of the changes can already be seen in an increase of revenues by 34%, decreased investments, and gradually decreased costs. The most important action has been to intensify and develop client relations. We introduced a new sales organization. The staffing was strengthened and the goal is to recruit new clients and that all clients will use NeoNet for trading on more marketplaces. The new trading platform was successfully launched during the year and handles significantly higher trading volumes with improved speed and maintained stability. This facilitates further development of even more advanced and user-friendly trading functionality. The significantly improved operating earnings in combination with decreased investments, currently at an annual rate of app. SEK 15 m, resulted in a positive underlying cash flow. The earnings are however affected by negative net financial items and large depreciations. Actions have been taken to improve the net financial items. In addition, the depreciations are expected to decrease to app. SEK 27 m for 2005. The group’s growth goal proved to be too aggressive and has therefore been re-evaluated. Our new growth goal is to gradually increase operating revenues over a four-year period to reach at least SEK 400 m in 2008. The operating margin shall be improved and reach 25% by the latter part of the four-year period. Direct Market Access (DMA) is a growing segment within equity trading. The trend is particularly positive for European institutional investors. NeoNet has a strong position within DMA and with our very competitive offering and I am convinced that 2005 will be a good year.” More information is available from: Simon Nathanson, President and CEO Tel. +46 8 454 15 00 Teleconference, 10 February at 15.00 CET / 14.00 GMT / 09.00 EST: Tel. +46 8 5593 6732

About Us

Neonet offers professional market participants flexible, independent and transparent execution services based on advanced trading software solutions. Neonet’s services include a comprehensive execution management system, advanced trading algorithms, smart order routing, market data services and a trading desk operated by qualified execution specialists. Neonet does not engage in proprietary trading or any other financial activity that could result in a potential conflict of interest. Neonet serves clients in over 20 countries. Clients include banks, brokerage firms, institutional investors, hedge funds and asset managers. Neonet Securities is an Orc Group company. Orc Group is owned by Nordic Capital Fund VII. For more information, please visit:

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