Interim report January-March 2004

4/22/2004 4:06 AM EST

Effnet Group AB (publ) INTERIM REPORT January - March 2004

* Net sales for the period January-March 2004 amounted to MSEK
5.0 (5.0). Sales were weaker than expected while operating expenses
developed as planned.

* Operating result for the first quarter amounted to MSEK -3.7 (-
3.2). The result after financial items was MSEK -2.9 (-2.2) or SEK -0.05
(-0.04) per share.

* Liquid assets at the close of the period totaled MSEK 103.5
(107.8) or SEK 1.88 (1.96) per share. Stockholders' equity at the close
of the period amounted to MSEK 101.3 (104.2) or SEK 1.85 (1.90) per
share.

* Kenneth Lundgren was appointed President of Factum Electronics
AB in January 2004.

* In February a new co-operation between Effnet and PrairieComm
was announced. The co-operation makes Effnet Header Compression
available on PrairieComm's telephone platforms.

* During the period Effnet AB introduced new versions of CRTP;
Effnet CRTP(TM) v.3.1 and Effnet ECRTP(TM) v.1.0. During the period
Factum Electronics AB in co-operation with Coding Technologies
introduced a new encoding algorith for its MAP200E audio encoder,
regarded by independent test laboratories as the best choice of the
industry.

For further information, please contact:
Hans Runesten, CEO, +46 (0)8 564 605 50 or +46 (0)702 80 26 26,
Krister Moberger, CFO, +46 (0)8 564 605 50 or +46 (0)8 564 611 02
or visit the company's website at www.effnet.com