BENEFON OYJ

CONSOLIDATED FINANCIAL STATEMENT 2003

	1-12/03 EUR million	1-12/02 EUR million
Net sales	6,7	14,7
Other operating income	3,0	5,6
Costs of operations	-14,2	-27,2
Depreciation according to plan	-0,6	-1,2
Operating profit before one-off items	-5,1
One-off items	-15,1
Operating profit	-20,2	-8,1
Financial income and expenses	-0,6	-2,2
Profit before extraordinary items	-20,8	-10,3
Profit before income taxes	-20,8	-10,3
Profit for the period	-20,8	-10,3
Fixed assets
Intangible assets	0,2	6,1
Tangible assets	0,5	0,9
Investments	0,0	0,2
Current assets
Inventories	4,5	13,7
Receivables	0,8	3,2
Cash in hand and at banks	0,1	0,2
Shareholders´ equity	-13,8	3,8
Equity loan	1,7	0,0
Obligatory reserves	0,0	0,1
Long-term liabilities	0,0	5,4
Current liabilities	18,2	15,0
Balance sheet total	6,1	24,3
Gross investments in fixed assets	0,0	5,8
Average number of personnel	140	251
Pledged assets and contingencies
Liabilities relating to chattel mortgage	6,1	6,1
Chattel mortgage nominal value	12,1	12,1
Pledged investments	0,0	0,2
Leasing commitments	0,0	0,4
Other commitments	0,0	1,4
Earnings/share, EUR	-1,45	-1,21
Shareholders´ equity/share, EUR	Neg	0,38

The interim financial statements have not been audited.


CONSOLIDATED FINANCIAL STATEMENT 2003

	10-12/03 EUR million	7-9/03 EUR million	4-6/03 EUR million
Net sales	1,7	1,7	1,7
Other operating income	0,1	1,0	1,1
Costs of operations	-2,6	-2,6	-3,8
Depreciation according to plan	-0,1	-0,1	-0,2
Operating profit before one-off items	-0,9	-1,0	-1,2
One-off items	-5,8	-0,2	-1,0
Operating profit	-6,7	-1,2	-2,2
Financial income and expenses	-0,1	-0,0	-0,3
Profit before extraordinary items	-6,8	-1,2	-2,5
Profit before income taxes	-6,8	-1,2	-2,5
Profit for the period	-6,8	-1,2	-2,5
Fixed assets
Intangible assets	0,2	0,2	0,2
Tangible assets	0,5	0,6	0,7
Investments	0,0	0,0	0,1
Current assets
Inventories	4,5	9,7	10,0
Receivables	0,8	3,3	4,1
Cash in hand and at banks	0,1	0,0	0,2
Shareholders´ equity	-13,8	-7,1	-5,9
Equity loan	1,7	1,7	1,7
Obligatory reserves	0,0	0,0	0,1
Long-term liabilities	0,0	1,1	1,0
Current liabilities	18,2	18,1	18,4
Balance sheet total	6,1	13,8	15,3
Gross investments in fixed assets	0,0	0,0	-0,1
Average number of personnel	130	136	145
Pledged assets and contingencies
Liabilities relating to chattel mortgage	6,1	6,1	6,1
Chattel mortgage nominal value	12,1	12,1	12,1
Pledged investments	0,0	0,0	0,1
Leasing commitments	0,0	0,0	0,0
Other commitments	0,0	1,0	1,0
Earnings/share, EUR	-0,36	-0,07	-0,25
Shareholders´ equity/share, EUR	Neg	Neg	Neg

The interim financial statements have not been audited.

Pro forma balance sheet comparison per 31.12.2003:

Published financial statements vs. same with re-org solution, including assumed investment of 1.65 Meuros.

	31.12.2003 Finance statem.	31.12.2003 Same w. re-org
Fixed assets
Intangible assets	0,2	0,2
Tangible assets	0,5	0,5
Investments	0,0	0,0
Current assets
Inventories	4,5	4,5
Receivables	0,8	0,8
Cash in hand and at banks	0,1	1,7
Shareholders´ equity	-13,8	2,7
Equity loan	1,7	0,0
Obligatory reserves	0,0	0,0
Long-term liabilities	0,0	1,8
Current liabilities	18,2	3,1
Balance sheet total	6,1	7,7

The above balance sheet per 31.12.2003 in the right hand column has been construed by starting from the balance sheet of the financial statements in the left hand column and adding to it the effects of the re-org program proposal submitted on 19.12.2003, together with the connected equity funding which has been assumed to be 1.65 Meuros.