INTERIM REPORT OF PROHA PLC FOR THE PERIOD JANUARY 1 - MARCH 31, 2004

Proha Plc Stock Exchange Bulletin May 13, 2004 at 9.00 a.m. INTERIM REPORT OF PROHA PLC FOR THE PERIOD JANUARY 1 - MARCH 31, 2004 - The Proha Group's net sales for January 1 - March 31, 2004 were EUR 16.9 million (EUR 22.1 million for January 1 - March 31, 2003). - The decline in volume of sales compared to the corresponding period in 2003 was caused by the completion of some consulting agreements after the corresponding period and major software license sales recognzed as revenue during the first months of 2003. The appreciation of the euro also has a declining effect on the net sales. - Earnings before interest, taxes and amortization (EBITA) totaled EUR -2.1 million (EUR 0.6 million). - The Group result was adversely affected by the restructuring at the Artemis subgroup, that were substantially completed during the first quarter of 2004. - The result includes approximately EUR 1.0 million of non-recurring reorganization charges. - The new management of Artemis started at the end of January. - Proha's operations in Norway have developed as estimated. - After the first quarter of 2004 Proha Plc decided to acquire its subsidiary Dovre International AS in Norway to the Group's full ownership. - The cost level of Artemis has been adjusted to a level that enables the Proha Group to achieve profitability during the second quarter of 2004. For more information please contact: PROHA PLC CEO Pekka Pere, tel. +358 (0)20 4362 000 pekka.pere@proha.com www.proha.com DISTRIBUTION: Helsinki Stock Exchange Major Media ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/13/20040513BIT00020/wkr0001.doc The full report http://www.waymaker.net/bitonline/2004/05/13/20040513BIT00020/wkr0002.pdf The full report