CEO ARNE KARLSSON COMMENTS ON THE REPORT AT www.ratos.se
TELEPHONE CONFERENCE 11 a.m., tel. no. +46 8 505 20 114

     Pre-tax profit SEK 1,682m (315)

     Earnings per share SEK 19.40 (2.83)

     Strong earnings trend in underlying portfolio

     Exit gain from the sale of Dahl SEK 1,355m

     Holding in Q-Labs sold

     Total return on Ratos shares +16%

Stockholm, 25 August 2004

Ratos AB (publ)

Arne Karlsson

CEO

This interim report has not been reviewed by Ratos's auditors.

The full report including tables can be downloaded from the following link: