Positive developments compared to 2004

The forecast for pre-tax earnings for 2005 is for DKK 8-13m compared to a DKK 28m deficit in 2004; an improvement of DKK 36-41m.

Columbus has enjoyed positive developments during the first half of 2005. We have been successful in getting all the companies on the right track and apart from four countries, all the companies reported profits for the first half of 2005 and all are expected to report profits for the second half.