Proha Plc                                                                           Stock Exchange Bulletin May 12, 2006 at 1.50 p.m.    

PROHA EXECUTES THE ACQUISITION OF FABCON

Proha Plc's Norwegian subsidiary Dovre International AS ("Dovre") has executed the purchase of business operations and overseas subsidiaries of Fabcon Management AS ("Fabcon"). The parties have agreed that the closing date is set retroactively at May 1, 2006. The first installment of the purchase price, i.e. two thirds of approximately EUR 3 million total price is agreed to be paid during the latter half of June. The purchase is financed by Dovre's cash funds and a Norwegian bank loan.

Established in 1977 Fabcon is an internationally operating oil and gas industry project management consultant with 70 employees. Its preliminary net sales are anticipated to exceed EUR 11 million in 2006.

The purchase will enhance Dovre's growth and strengthen its position in the global oil and gas markets. The purchase and essential terms were published on April 4, 2006.

Dovre International AS in brief

Proha's subsidiary Dovre International AS is the leading Norwegian consulting company focusing on project management and supply chain management. With approximately 190 employees Dovre's net sales were approximately EUR 24.5 million and operating profit approximately EUR 0.9 million in 2005. Dovre's main business is within oil and gas investment projects, but during the last few years the company has also developed services for managing projects and procurement in public sector, and energy, health, IT, telecommunication and civil projects. More information on Dovre is available at www.dovre.biz.

Proha in brief The Proha Group is a provider of project and portfolio software and services. Proha includes the subgroup Artemis, representing approximately 59% of the Group's net sales in 2005, and the Norwegian project management operations concentrating on the oil and gas sector, represented approximately 40%. In 2005, Proha Group's net sales were EUR 64.5 million, approximately 90% of which originated from outside Finland. The Proha Group employs over 500 people globally.

The group structure of Proha will be changed considerably after the sale of Artemis published on March 13, 2006. The purchase of Fabcon's business operations supports Proha's strategy of growth in the fast developing oil and gas industry markets.

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