2009-01-16 Press release: Strong development in Novestra’s portfolio companies during 2008

STRONG DEVELOPMENT IN NOVESTRA’S PORTFOLIO COMPANIES DURING 2008

Novestra’s portfolio companies have had a very positive development during 2008 in spite of the weak economic climate. The first half of 2008 was exceptionally strong, but the sales growth slowed down a bit during the second half as the economy weakened.

• MyPublisher’s sales during 2008 amounted to approximately MSEK 215, corresponding to a growth rate of 60 percent, with a significantly improved EBITDA and a positive net profit.

• Qbranch continued to strengthen its position in the Swedish market for IT-outsourcing, with sales amounting to approximately MSEK 440, corresponding to a growth rate of approximately 21 percent with continued good profitability.

• Strax has continued its consolidation process and in connection, approximately MSEK 90 has been provided in equity. Sales for 2008 amounted to approximately MSEK 745, in line with the sales for previous year, however, the gross margins have improved considerably.

• In Netsurvey, sales increased with approximately 10 percent and amounted to MSEK 27.5 for 2008. The company has improved its profitability significantly during the year.

• Explorica’s current financial year ends August 31, 2009 and the company estimates sales of MSEK 590 for the year, corresponding to a growth rate of approximately 15 percent, with improved profitability.

• Diino’s user base has increased from approximately 400 000 users to 1 400 000 users during 2008. In the beginning of 2009, Diino introduced a completely new technical platform for the company’s online storage service, which will provide improved functionality, stability and extended earning potential.

All portfolio companies, with the exception of Diino, have sufficient funds to continue to develop and expand their businesses without external financing.

“We can conclude that Novestra’s portfolio companies are in a very favourable position in the current economic situation. The companies show continued strong growth and continue to earn market shares in their respective markets while at the same time, they have a very strong financial position and profitability. I am convinced that our portfolio companies will have a relatively strong development during 2009” says Johan Heijbel, Managing Director, AB Novestra.

For further information please contact Johan Heijbel, Managing Director, AB Novestra, telephone no. +46 8 545 01750.

All figures are unaudited and have been presented in SEK.

About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Diino AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc.

The Novestra shares are listed on the OMX Nordic Exchange Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com

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