Interim Report of Proha PLC for the period January 1 - September 30, 2000

INTERIM REPORT OF PROHA PLC FOR THE PERIOD JANUARY 1 - SEPTEMBER 30, 2000 - The growth of the company was exceptionally rapid and profitability good. - Net turnover EUR 18.4 million (FIM 109.4 million), growth compared to previous year 418%. - Profit before taxes EUR 2.8 million (FIM 16.8 million), 15,4% of the net turnover, growth 996%. - The acquisition of the US-based Artemis Management System was closed as planned. - The closed and agreed acquisitions have made Proha the leading project management software and service provider in the world. - After the expansion, Proha's international subsidiary network covers the following countries: Finland, Norway, USA, Great Britain, and Japan. - After the agreed acquisition are closed, the network of subsidiaries will also cover Germany, France, Italy, Singapore, and South-Korea. Proha's strategy is to be the leading project management software and service provider in all major markets of the world as well as the greatest innovator in financial management. In 2001, Proha aims to grow organically by 25-30%. Despite the rapid growth, the profitability target of the company for 2001 is 10-15% before taxes, goodwill depreciation and change in reserves. In the future, Proha will continue to function as an active party in the structural change of the market. Besides organic growth, Proha will also grow through strategic acquisitions. The company will make acquisitions in the Project Management business area in order to complement the international distribution channel and to purchase international software companies, as well as in the Financial Management business area by purchasing the best companies of the business or their holdings. The acquisitions are delimited to buying strong companies, that are relevant to fulfilling Proha's strategy. "Because of the structural changes we'll now concentrate on taking over the acquired companies and integrating them into a well- functioning entity. Taking over an international organization has been a demanding , but it has succeeded better than expected. The take over has been smooth, because the parties already know each other well. In 2001, we will simplify the Group structure that has build up as a result of the acquisitions to match Proha's functional structure," says Pekka Pere, CEO of Proha Plc. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/11/16/20001116BIT00030/bit0001.doc http://www.bit.se/bitonline/2000/11/16/20001116BIT00030/bit0002.pdf