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Interim report for the nine months ended January 31, 2004.

Europe Intelligence Wire

| February 24, 2004 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From Hugin)

The Board of Directors of Thrane & Thrane has approved the company's interim report for the nine months ended January 31, 2004 as attached.The interim financial statements are unaudited. The comparative figures have not been restated to reflect the acquisition of LandSea Systems, Inc.

Thrane & Thrane will review the interim report at an investor presentation to be held at 1:00 p.m. today. The meeting will be held at The Danish Society for the Advancement of Business Education, FUHU, Fiolstrade 44, DK-1171 Copenhagen K, Denmark. SUMMARY OF THE FIRST NINE MONTHS OF 2003/04 * Thrane & Thrane reported revenue of DKK 469.0 million (DKK 456.2 million) …

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