RESULT AS PER JUNE 30, 1998

The Schibsted consolidated accounts for the period January 1 to June 30, 1998 were approved at the Schibsted Board Meeting August 18, 1998.

The Group`s revenues for the first half of 1998 amounted to NOK 3,025 million, an increase of 16.6%, or NOK 430 million compared to the same period last year. The operating profit was NOK 323 million, compared to NOK 375 million for the corresponding period in 1997. The result is positively impacted by higher advertising revenues for the newspapers, the improved results in the TV/Film business area and the sale of the property at the printing plant at Linderud and negatively impacted by the expansion of the Internet activities to all the Scandinavian countries, provisions for early retirement in connection with the new printing plant and increased cost levels at the newspapers.

Key figures for year-to-date 1998 and corresponding figures for 1997 are:

(NOK MILL.)           30.6.98    30.6.97    Change

Total revenues         3 024.5    2 594.6     16.6%
Operating profit           322.6      374.9    - 14.0%
Net financial items        18.6        88.4    - 79.0%
Profit before taxes       337.5      462.7    - 27.1%
Net profit                    236.3      328.5    - 28.1%
EPS    (NOK)                 3.41        4.74
CFPS  (NOK)                 5.86        5.69      2.9%

Interim report: http://www.huginonline.no/SCH/DR/sch98k2_eng.pdf
Presentation: http://www.huginonline.no/SCH/PRES/sch98k2pres_eng.pdf
Home page: http://www.schibsted.no