Proha - Company Announcement

PROHA SELLS ITS SAFRAN OPERATIONS IN THE USA ALONG WITH A PURCHASE OPTION REGARDING SAFRAN SOFTWARE BUSINESS IN NORWAY

Proha Plc      STOCK EXCHANGE RELEASE       May 19, 2009  8.45 a.m.

PROHA SELLS ITS SAFRAN OPERATIONS IN THE USA ALONG WITH A PURCHASE OPTION
REGARDING SAFRAN SOFTWARE BUSINESS IN NORWAY 

Proha Plc's fully-owned subsidiary, Safran Software Solutions AS, agreed
yesterday to sell its share (49%) of Safran North America LLC to a Norwegian
investment 
group, SNA Holding AS. Safran North America will continue its operations as the
distributor of Safran Software Solutions' software products in the North
American market. The fixed purchase price of 760,000 NOK will be paid in cash
at the execution of the contract estimated at May 27, 2009. In addition, Safran
Software Solution's loan receivables from Safran North America are being
transferred to the buyer with the transaction. The sale price of the
receivables, approximately 520,000 US dollars, corresponds to the book value in
the Proha Group's balance sheet. The transaction will not have a significant
impact on Proha's 2009 result or the financial position. 
Concurrently, Proha Plc has granted a purchase option for SNA Holding AS to
acquire the Norwegian software business activity of Safran Software Solutions
AS. The option right is in effect to the end of the year 2012. Safran Software
Solutions' net sales were 4.5% of the Proha Group's net sales and its operating
result was slightly positive in 2008. The company employed 23 persons at the
year end of 2008. The exercise price of the option will be based on Safran
Software Solutions' license and maintenance sales as well as the result of the
company. 

Proha Plc 

Ilari Koskelo
CEO




More information   
PROHA PLC        
Ilari Koskelo, CEO, tel +358 (0)20 4362 000 
ilari.koskelo@proha.com