Proha Plc purchases Tuloshallinto Oy

PROHA PLC PURCHASES TULOSHALLINTO OY The Proha Plc Group (hereinafter Proha) has made an agreement with all shareholders of Tuloshallinto Oy to acquire 74 per cent of the share capital of the Helsinki based accounting company Tuloshallinto Oy. Tuloshallinto Oy is an authorised accounting company offering financial advisory services together with consulting and training on related IT-systems. Tuloshallinto Oy will continue as an independent subsidiary of Proha within the Internet business solutions business area. The acquisition supports Proha's ProCountor.Com project on paperless accounting and strengthens Proha's ability to manage its fast growth through acquisitions. For Tuloshallinto Oy the agreement provides basis for expanding its services and customer base. The purchase price is FIM 1,5 million, in addition to which the owners of Tuloshallinto Oy are offered 7350 new shares of the Proha Plc Group. The offered shares represent below 0.2 per cent of the share capital of Proha Plc Group after the exchange. The acquisition supplements the services offered by Proha's ProCountor.Com project. It also supports Proha's growth strategy based on acquisitions. Proha is presently negotiating over additional acquisitions within the Nordic countries. Tuloshallinto Oy in a nutshell Tuloshallinto Oy was established in 1992. The company is an authorized accounting company offering accounting and financial advisory services together with related consulting and training. Currently the company services over 70 customers. Taloushallinto Oy has currently 19 employees. The net turnover of the company during the past financial year was FIM 5.2 million and profit before taxes FIM 0.2 million. The estimated turnover of the present financial year is approximately FIM 6.1 million and profit before taxes FIM 0.7 million. Proha in a nutshell Proha Plc is a Finnish service enterprise in the field of information technology. The key areas of Proha's operations are project management, information technology, automation of software testing, and Internet business applications. After this contract, the number of persons employed by Proha Plc will be 136. ProCountor.Com-virtual accounting company-is a data system enabling paperless accounting. ProCountor.Com accounting services are provided by Proha Plc. Proha Plc Pekka Pere Chief Executive Officer Additional information available at PROHA PLC CEO Pekka Pere, tel. +358 20 4362 000 pekka.pere@proha.fi http://www.proha.fi DISTRIBUTION: HEX Helsinki Stock Exchanges Principal media ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/12/20000112BIT00360/bit0001.doc http://www.bit.se/bitonline/2000/01/12/20000112BIT00360/bit0002.pdf