Adoption of IFRS in CapMan Plc

CapMan Plc adopted International Financial Reporting Standards (IFRS) in the Group’s financial reporting as of 1 January 2005, prior to which the Group’s financial statements have been based on Finnish Accounting Standards (FAS). The changeover date to IFRS was 1 January 2004. Interim reports for 2005 were drafted in accordance with the new financial accounting principles.

The most significant changes as regards CapMan Plc Group were related to the adoption of fair value of investments and the evaluation of goodwill.

For the changeover date an opening IFRS balance sheet was published on 11 February 2005 as an appendix to the 2004 financial statements bulletin.

Quarterly comparative figures for 2004 in accordance with IFRS and FAS, supplementary notes to the income statement and balance sheet as well as the accounting principles applied in the IFRS financial statements were reported in the release published on 2 May 2005.
Stock exchange releases related to IFRS:
14 Dec 2004:   Preliminary Information of the Effects of Adopting IFRS in CapMan Plc
11 Feb 2005:   CapMan Plc Group Financial statements bulletin 1 January - 31 December 2004 
                          (See Appendix 4: The opening balance sheet 1 January 2004)
2 May 2005:     CapMan Plc Group’s comparative IFRS information for 2004

For further information please contact:
Kaisa Arovaara, CFO, tel. +358 9 6155 8383