Interim Report January – March 2004

Positive development and profit for the quarter · Shareholders' equity (net asset value) after full subscription to outstanding warrants amounted to SEK 1,845M on 31 March. Shareholders' equity is equivalent to SEK 1.43 SEK per share after full dilution (discounted value) and to SEK 1.57 per share without discounting. · On 28 April, equity per share after full dilution was calculated at SEK 1.48 (discounted value) and at SEK 1.62 without discounting. · Taking full subscription to outstanding warrants into account, the net loan liability amounted to SEK 252M (958) on 31 March. When adjusted for receivables from the subsidiaries, the net loan liability amounted to SEK 377M (1,228). · The parent company's result after tax for the first quarter amounted to SEK 16M (-172). · The consolidated operating result before goodwill amortisation amounted to SEK 109M (-165). The consolidated net result for the first quarter amounted to SEK 41M (-235), equivalent to SEK 0.05 per share (-1.55) after full dilution. · A new share issue in Carl Bro and the acquisition of shares have been implemented, wich increases the ownership to 58 per cent. The investment amounted to SEK 78M. · Overall, there were result improvements and a positive result development in the portfolio companies during the quarter. Subsequent events · The sale of Parere (formerly PAHR) has generated a liquidity contribution of approximately SEK 340M and a capital gain of approximately SEK 113M. The Swedigh Competition Authority gave its approval in mid-April and the transaction has, therefore, been booked during the second quarter. Telephone conference on 30 April at 09.30 pm At 09.30 pm on Friday 30 April 2004, a telephone conference will take place in Swedish with Bure's President and CEO, Lennart Svantesson and Chief Financial Officer Anders Mörck. Journalists and professionals in the capital markets are invited to take part. You can participate by telephoning +46 8 505 201 14 ten minutes before the stated time, quoting 'Bure'. Please note that you must also dial the area code if you make a call within the Stockholm area. Gothenburg, 29 April 2004 Bure Equity AB (publ) The complete Interim Report is available at ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: The full report