INTERIM REPORT – NINE MONTHS 1 December 2003 – 31 August 2004

• H&M’s Group turnover excluding VAT amounted to SEK 37,821 M (34,315), an increase of 10 per cent. In comparable currency rates the increase was 12 per cent.

• Profit after financial items for the first nine months was SEK 6,949 M (6,335), an increase of 10 per cent. Profit after VAT for the group amounted to SEK 4,517 M (4,118), corresponding to SEK 5.46 per share (4.98).

• Turnover excluding VAT for the third quarter amounted to SEK 12,840 M (11,246), an increase of 14 per cent, compared with last year.
In comparable currency rates the increase was 15 per cent.

• Third quarter profit after financial items amounted to SEK 2,452 M (2,079), an increase of 18 per cent.

• Establishing two new markets during 2005, Ireland and Hungary.

• Continued very positive development in the USA.

Contact persons:
Carl-Henric Enhörning, IR +46 8 796 5410
Leif Persson, CFO +46 8 796 1300
Rolf Eriksen, CEO +46 8 796 5233
Background information about H&M and press pictures may be found on www.hm.com