Stock Exchange Release 03 - Annual Review 2003
4 March 2004

Columbus IT Partner A/S - Banemarksvej 50C - DK-2605 Brøndby
T: (+45) 7020 5000 - F: (+45) 7025 0701
CVR No.: 13228345



Successful Hands integration concludes a difficult year

• Columbus IT Partner reported revenues of DKK 543m (DKK 607m in 2002), which
was in line with the Company's most recent forecasts for DKK 540m, cf. Stock
Exchange Release of 14 November 2003 (No. 20/2003.)
• Earnings from operation (EBITDA) were DKK 11m (DKK 8m in 2002). The Company
also realized DKK 8.4m from disposal of unbooked assets deriving from the
acquisition of Hands Danmark A/S, although in accordance with Danish accounting
guidelines, these were not booked as income but transferred to the opening
balance. The November forecast for EBITDA of DKK 20-25m included these
disposals. 
• On 1 July 2003, Columbus IT Partner sold its Icelandic subsidiary, with the
gains of DKK 17m making positive impact on EBITDA. 
• 2003 results improved by DKK 60m to a deficit of DKK -40m, primarily as a
result of sizeable goodwill amortization payments in 2002. 
• The Company's rights issue concluded on 2 July 2003, with the proceeds of DKK
80.5m being used in part to reduce indebtedness to Nordea Bank Danmark A/S and
Gaardboe Holding ApS.
• Hands Danmark A/S was acquired on 1 October 2003, also by way of a rights
issue for Hands ASA. The acquisition consolidated Columbus IT Partner's
position as the largest reseller of Microsoft Business Solutions in terms of
revenues, number of staff, number of installations and global coverage. 
• For 2004, Columbus IT Partner is forecasting revenues of approx. DKK 625m and
EBITDA to more than double to around DKK 30m, with modest pre-tax earnings.

Niels Heering            Carsten Dilling
Chairman of the Board    Chief Executive Officer
Columbus IT Partner A/S  Columbus IT Partner A/S

For further information, please contact:
Carsten Dilling, Chief Executive Officer or Jan U. T. Bitterhoff, Business
Development Executive, T: (+45) 7020 5000.