Proha sold its investment in Widene Oy

PROHA SOLD ITS INVESTMENT IN WIDENE OY Proha Plc sold its share of Widene Oy, an IT growth company, that offers comprehensive outsourced IT services and solutions to companies. The buyer is Mr. Pekka Ruusunen, the founder and shareholder of Widene, who will be increasing his contribution to the development of Widene. Proha made a capital investment in Widene in November 2000. The price corresponds the original investment and it is not disclosed, because it is small in respect of Proha's business. 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 CEO More information PROHA PLC CEO Pekka Pere, tel. +358 20 4362 100 pekka.pere@proha.fi http://www.proha.fi 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/2002/01/18/20020118BIT00220/bit0002.doc http://www.waymaker.net/bitonline/2002/01/18/20020118BIT00220/bit0002.pdf