Proha withdraws from the investment in the Swiss STS

PROHA WITHDRAWS FROM THE INVESTMENT IN THE SWISS STS Proha Plc and Swiss STS Sauter Training & Simulation SA (STS) have mutually agreed to withdraw from the investment agreed upon on January 15,2001. The withdrawal from the investment agreement has no effect on the global distribution and use by Proha of STS's Internet-based training technology as part of the Proha Group's Artemis products. 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/2001/12/21/20011221BIT00350/bit0002.doc http://www.waymaker.net/bitonline/2001/12/21/20011221BIT00350/bit0002.pdf