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11 February 2003

FOURTH QUARTER HIGHLIGHTS

19 editions launched more than 1 year ago report EBITA operating profit (excluding headquarters) of US$ 0.04 million (US$ -4.3 million)
Group operating losses reduced year on year by 44% to US$ -10.5 million (US$ -18.6 million)
Net sales up 44% year on year to US$ 46.4 million (US$ 32.2 million) and international sales up 67% to US$ 32.6 million (US$ 19.6 million)
Metro now world's largest newspaper outside Japan
10 out of 24 editions report operating profits in the quarter and a further four editions report monthly operating profits
Spanish operations report first combined quarterly operating profit
9.5% year on year reduction in average cost per copy in quarter and 9.0% for full year
Liquid funds of US$ 24.0 million at close of quarter, including US$ 11.4 million of restricted funds
SEK 150 million of secured additional funding from Kinnevik drawn down after year end

The full report including tables can be downloaded from the following link: