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Oresundsbro Konsort (37OK)


Thursday 15 March, 2001

Oresundsbro Konsort

Final Results

Oresundsbro Konsortiet
15 March 2001

Oresundsbro Konsortiet's result for 2000

The Board of Oresundsbro Konsortiet has today, March 12, 2001, considered and
approved the accounts for 2000.

For the year under review, Oresundsbro Konsortiet has reported an operating loss
of DKK 110.4 million.

The operating loss corresponds to the result for the 2nd half year, the first
period of operation for the Oresund Bridge.  Construction-related expenses for
the 1st half year have been capitalized and do not affect the operating result.

The result, which is approx. DKK 64 million below expectations, is partly
attributable to reduced income from the road section, partly to higher than
expected operating costs and partly to lower financing costs.

The result before financial items shows a profit of DKK 254 million.

Oresundsbro Konsortiet's revenue totals DKK 561.2 million.  Revenue from the
1,680,000 vehicles which used the fixed link during the 2nd half year 2000
amounted to DKK 314.6 million.

Net turnover for the 2nd half year 2000 includes other revenue of DKK 246.7
million, of which DKK 187.4 million derives from the Danish National Railways
Agency and the Swedish Banverket for use of the rail line.  The remainder
includes income from the lease of fibre optic cables to telephony operators.

Financing costs for the 2nd half year 2000 totalled DKK 364 million.  This is
partly due to interest payments of DKK 367 million and partly the result of
positive exchange rate adjustments of DKK 3 million.

As at December 31, 2000, interest-bearing net debt totalled DKK 19.4 million
while equity capital showed a capital deficit of DKK 60.4 million.

Although the completion of certain minor construction works are outstanding, the
construction budget is expected to be finalised at DKK 14,682 million, i.e. DKK
68 million lower than the expected DKK 14,750 million (July 1990 prices).

For 2001, Oresundsbro Konsortiet's operating result is expected to show a loss
of DKK 664 million.  The budget includes income of DKK 1,133 million.

The printed report and accounts are expected to be published on March 29, 2001.


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