Stock Exchange Release no. 18 - Columbus IT Partner acquires Hands Danmark
20th October 2003

Columbus IT Partner A/S - Quintus Bastion - Krudtløbsvej - DK 1439 Copenhagen K
T: (+45) 7020 5000 - F: (+45) 7025 0701
CVR No.: 13 22 83 45

1/12

Stock Exchange Release no. 18/2003
Columbus IT Partner acquires Hands Danmark

• With the acquisition of Hands Danmark, Columbus IT Partner becomes the leading
supplier of integrated IT solutions in the Danish market with stronger
competencies and approximately 300 staff. At the global level, Columbus IT
Partner will have more than 900 employees focusing on solutions from Microsoft
Business Solutions. 

• Hands Danmark has been acquired for 2,100,000 new shares in Columbus IT
Partner and  up to DKK 5m payable in 2005/2006.

• Columbus IT Partner has gained the requisite funding for the integration.
Funding comprises inter alia a subordinated loan of DKK 4m from Gaardboe
Holding. This is expected to be redeemed by 31st December 2003 at the latest as
part of a limited rights issue for Gaardboe Holding. 

• Enhanced business on the domestic market with a broader portfolio of vertical
solutions will provide Columbus IT Partner with a solid platform for future
growth in earnings and stronger opportunities to benefit commercially among
other things from Microsoft's investments in product development and marketing. 

• Stronger platform for participating in further sector consolidation.

• Forecast annual synergy on costs of the order of DKK 15m from the end of the
first half of 2004 by merging offices and redundancy for up to 50 employees.
Synergy from sales is expected to be achieved during the course of 2004-2005. 

• Following the acquisition of Hands Danmark, Columbus IT Partner is
maintaining its forecast for EBITDA of DKK 20-25m in 2003 although there is
some uncertainty about the forecast as a result of the acquisition of Hands
Danmark. 

Niels Heering, Chairman of the Board, states: “We are pleased that we have
succeeded in making this step forward. It is especially satisfactory for the
Board that we have the backing of our two major shareholders, Nordea Bank and
Gaardboe 
Holding, in our wish to make this move towards consolidation and that we have
the full support for this from Microsoft Business Solutions”. 

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

For further details, please contact:
CEO Carsten Dilling or Business Development Executive Jan Bitterhoff, tel.: 
+45 70 20 50 00.