Interim Report for January - March 2004

Sardus Q1 2004: Higher turnover Unchanged profit Sardus' turnover increased to MSEK 427, which is nine per cent higher than the first quarter of 2003 (MSEK 393 million). Profit before tax amounted to MSEK 20, which is unchanged in relation to the corresponding period last year. The forecast for 2004 of a profit on a par with last year's (approx. MSEK 110) remains unchanged.

The main reasons for the increase in turnover are that a proportion of the Easter business fell in the first quarter and the acquisition in October 2003 of Gourmet Service, which accounted for 60 per cent of the growth. "The success in 2003 of our low-fat organic products and our new packaging concept, which is designed for small households, confirms our expectations with regard to consumption patterns," says Ragnar Bringert, Sardus' President. "The success of these new ventures means that we plan to launch several new concepts in these areas in 2004 and 2005." Helsingborg 22 April 2004 Further information can be obtained from Ragnar Bringert, President of Sardus, on +46 42 37 02 50 or +46 70 593 62 73.