GNT Finland Oy

FOR IMMEDIATE RELEASE

Significant investments in growth and logistics in 2004 IT distributor GNT retains strong market position, grows revenue by over 35 percent

(Helsinki – Finland, February 18, 2005) GNT Group, the leading IT and consumer electronics wholesale distributor in Finland and the Baltic region, today announced its full-year results for 2004. The group maintained its strong market share in Finland and the Baltics while consolidating its position in Sweden.

GNT Group’s turnover grew 35.3% year-over-year. The turnover of the group in 2004 was 728 million euros (2003: 537.9 m€). Profits before taxes in 2004 were 6.9 million euros (2003: 7.2m€).

During the year, GNT made significant investments in the Group’s Swedish operations and the logistics centre in Tampere, Finland. Additionally, in January 2005 GNT established a sales office in Wroclaw, Poland. In its first phase, the Polish subsidiary will employ 35 to 45 sales and marketing professionals.

Competition in the market for the IT products and components distributed by GNT remained challenging in 2004. The Finnish total market grew approximately 10%, while average prices declined by an estimated 10%. In Sweden, the markets grew at a more moderate rate, while in the Baltics, GNT estimated a strong market growth of approximately 15%.

In 2004, GNT signed and expanded distribution agreements with companies including Asrock, Asustek, F-Secure, Hewlett-Packard, LG, Linksys, Microsoft, Motorola, Nikon, Philips, Seagate and Siemens.

In April, GNT joined the European Wholesale Group, a consortium of four independent national distributors in the ICT sector. The European Wholesale Group offers major vendors pan-European co-marketing programs to address a vast number of resellers throughout Europe, using a top-of-the- range platform for the distribution of products and services. All members are leading ICT distributors in their respective markets.

“Tough competition will continue in 2005. However, we expect to further strengthen our market position and profitability through economies of scale brought by high volumes and efficient automation. For example, investments in the automatic warehouse functions at our logistics centre will improve delivery quality and significantly increase the effectiveness of our shipments,” said Mr. Mika Junnila, CEO, GNT Group.

Further information: GNT Group GNT Group CEO Chief Financial Manager Mr. Mika Junnila Mr. Kaj Valve Mobile +358 40 77 999 11 Tel. +358 3 2136 142 [email protected] Mobile +358 40 77 999 77 [email protected] GNT Group is the largest IT wholesale distributor in Finland and the Baltic countries. GNT distributes IT products and components as well as consumer and entertainment electronics in Finland, Sweden, the Baltic countries and Poland. GNT represents leading brands including 3Com, Canon, Electronic Arts, Fujitsu-Siemens, F-Secure, Hewlett-Packard, Hitachi, IBM, Kingston, LG, Microsoft, Motorola, Philips, Samsung, Siemens, Sony and Viewsonic. GNT Group’s headquarters and main warehouse are located in Tampere, Finland, with country offices in Estonia, Latvia, Lithuania, Sweden and Poland. The group employs 596 people. Further information: www.gnt.fi