The Ementor Group with 65.7% improvement in EBITDA

The largest Nordic and number three European supplier of IT infrastructure solutions and products, Ementor, presented today its third quarter results 2006. The Group continues to deliver improved results, compared to corresponding quarter in 2005. Denmark in particular delivers strong results The Group’s EBITDA (earnings before interest, tax, depreciation and amortisation) in the third quarter 2006 was improved with MNOK 12 to MNOK 30 compared to third quarter 2005, which is an improvement of 65.7% (the figures are comparable and includes Topnordic, Atea and Ementor in 2005). EBIT (operating profit excluding restructuring provisions) was improved with MNOK 14 to MNOK 2. Profit before taxes for continued operations, before restructuring provisions, was improved from corresponding period in 2005 with MNOK 16 to MNOK -10. The revenue was reduced with 2.7% to MNOK 2 417. Denmark in particular report strong EBITDA figures in the third quarter 2006 of MNOK 25, compared to MNOK 7 in the corresponding quarter 2005. The improvement in Denmark is primarily related to a 5% growth in revenue, margin improvements and focus on cost reductions. Sweden delivers an EBITDA of MNOK 13, compared to MNOK 18 in the corresponding period in 2005. The reduction is related to drop in home-PC volumes. The positive development in Norway continues compared to the latest quarters, and EBITDA in the third quarter 2006 was MNOK 3, compared to MNOK -12 in third quarter 2005. The improvement in Norway is related to improved margins and implemented cost reductions. The Finnish operation is undergoing major restructuring activities and the results are influenced by this. Finland has in the third quarter an EBITDA of MNOK -7. The Group’s actual results before tax, excluding restructuring cost, in the third quarter 2006 was MNOK 11, compared to MNOK -28 in corresponding quarter last year. In relation to the Ementor, Topnordic and Atea merger the Group has made restructuring provisions of MNOK 118 and write-downs of IT systems of MNOK 112, a total of MNOK 230. The restructuring provisions are mainly related to personnel and premises and are expected to yield MNOK 150 in annual cost savings, write-downs of IT systems will reduce annual depreciation with MNOK 20. In addition MNOK 50 is expected in synergies from purchases through the Group’s internal distributor, Atea Logistics. Total cost savings including depreciation are consequently MNOK 220. The Group’s actual result before tax, including restructuring cost of MNOK 230, was MNOK -219 compared to MNOK -28.3 last year. - I am pleased with the Group’s result which is in line with expectations. The merger of Ementor, Topnordic and Atea are according to plan and we are expecting annual cost savings of MNOK 220. The merged company’s supplementing competence profile and resources within logistics and the e-commerce area are forming a good foundation for further improvements in the profitability, says Jo Lunder, President & CEO Ementor ASA. The quarterly report and presentation is available at www.ementor.com/reports. The press conference is available through webcast at www.ementor.com/webcast. The Stock Exchange Announcement is available at www.ementor.com/ose. For further information please contact: Jo Lunder, President and CEO Ementor ASA, mobile +47 900 80 842 Rune Falstad, CFO Ementor ASA, mobile +47 906 14 482 Karine Mathiesen, Communication Director Ementor ASA, mobile +47 916 26 166 The Ementor Group is a leading provider of IT infrastructure solutions and products in the Nordic region. The Group has approximately 3 200 employees and is strategically located in the 49 most important cities in Norway, Denmark, Sweden, Finland and Lativa and an annual revenue of approximately NOK 13 bn. The Ementor Group uses both the Topnordic, Atea and Ementor brand in its business and is listed on the Oslo Stock Exchange