GeoSentric Oyj - Company Announcement

GEOSENTRIC OYJ MAKES PUBLIC THE AUDITOR´S REPORT OF FY 2007

GEOSENTRIC OYJ       BULLETIN 4.4.2008 at 08:30		                               


GEOSENTRIC OYJ MAKES PUBLIC THE AUDITOR´S REPORT OF FY 2007                     

“AUDITOR´S REPORT                                                               
To the shareholders of GeoSentric Oyj                                           

We have audited the accounting records, the report of the Board of Directors,   
the financial statements and the administration of GeoSentric Oyj (former       
Benefon Oyj) for the period 1.1.- 31.12.2007. The Board of Directors and the    
Managing Director have prepared the consolidated financial statements, prepared 
in accordance with International Financial Reporting Standards as adopted by the
EU, as well as the report of the Board of Directors and the parent company's    
financial statements, prepared in accordance with prevailing regulations in     
Finland, containing the parent company's balance sheet, income statement, cash  
flow statement and notes to the financial statements. Based on our audit, we    
express an opinion on the consolidated financial statements, as well as on the  
report of the Board of Directors, the parent company's financial statements and 
the administration.                                                             

We conducted our audit in accordance with Finnish Standards on Auditing. Those  
standards require that we perform the audit to obtain reasonable assurance about
whether the report of the Board of Directors and the financial statements are   
free of material misstatement. An audit includes examining on a test basis      
evidence supporting the amounts and disclosures in the report and in the        
financial statements, assessing the accounting principles used and significant  
estimates made by the management, as well as evaluating the overall financial   
statement presentation. The purpose of our audit of the administration is to    
examine whether the members of the Board of Directors and the Managing Director 
of the parent company have complied with the rules of the Companies Act.        

Consolidated financial statements                                               
In our opinion the consolidated financial statements, prepared in accordance    
with International Financial Reporting Standards as adopted by the EU, give a   
true and fair view, as defined in those standards and in the Finnish Accounting 
Act, of the consolidated results of operations as well as of the financial      
position.                                                                       

Without reference to the above statement we would like to bring attention to    
footnote 32 in the consolidated financial statements, which describes the       
assumptions and uncertainties regarding the going concern assessment.           

Parent company's financial statements, report of the Board of Directors and     
administration                                                                  
In our opinion the parent company's financial statements have been prepared in  
accordance with the Finnish Accounting Act and other applicable Finnish rules   
and regulations. The parent company's financial statements give a true and fair 
view of the parent company's result of operations and of the financial position.
In our opinion the report of the Board of Directors has been prepared in        
accordance with the Finnish Accounting Act and other applicable Finnish rules   
and regulations. The report of the Board of Directors is consistent with the    
consolidated financial statements and the parent company's financial statements 
and gives a true and fair view, as defined in the Finnish Accounting Act, of the
result of operations and of the financial position.                             
The consolidated financial statements and the parent company's financial        
statements can be adopted and the members of the Board of Directors and the     
Managing Directors of the parent company can be discharged from liability for   
the period audited by us. The proposal by the Board of Directors regarding the  
disposal of distributable funds is in compliance with the Companies Act.        


Helsinki March 27, 2008                                                         

Ernst & Young Oy                                                                
Authorized Public Accountant Firm                                               

Erkka Talvinko                                                                  
Authorized Public Accountant”                                                   




GEOSENTRIC OYJ                                                                  


Distribution:                                                                   
OMX Nordic Exchange Helsinki                                                    
Principal news media