Proha board of directors decided to study the possible demerger

PROHA BOARD OF DIRECTORS DECIDED TO STUDY THE POSSIBLE DEMERGER The Proha Board of Directors decided to study the possibility to demerge Proha into global Artemis software business and Nordic software and service business. According to the new structure, the listing of Artemis focusing on project management is intended to be transferred on the Nasdaq National Market. The listing of rapidly growing Nordic software and service business outside Artemis is intended to be kept in Finland. The study is expected to be done by the end of 2001. Proha in brief Proha is globally operating software company. Its key business areas are Project Management (Artemis), Financial Management (Accountor), and ASP services based on Internet Technologies (Intellisoft). The pro forma net sales of the Proha Group was EUR 82.2 million in 2000. Over 4/5 of the net sales originates from outside Finland. The Group employs nearly 700 people over 450 of whom work abroad. Proha Plc Pekka Pere President and CEO More information Proha Plc CEO Pekka Pere +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/2001/10/19/20011019BIT00470/bit0002.doc http://www.waymaker.net/bitonline/2001/10/19/20011019BIT00470/bit0002.pdf