I. Table of Contents - ISS

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tatiana\Bank Book\Public Bank Book\FINAL ISS PUBLIC Bank IM - Press Release to EMTN_1.doc 9 Nov 2005 10:32 90/91 Appendix D: Consolidated Balance Sheet, ISS Holding 90 Appendices Note: Unaudited Consolidated Preliminary Interim Balance Sheet and Purchase price allocation The process of identifying and determining the fair values to be assigned to the acquired identifiable assets and liabilities and contingent liabilities assumed in the acquisition of ISS has not yet been completed. Accordingly, the unaudited consolidated preliminary interim balance sheet is based on initial accounting and provisional values. The preliminary purchase price allocation and calculation of goodwill are based on the carrying amount of the acquired net assets of ISS as of the Acquisition Date, adjusted for certain known events and transactions. These adjustments to the carrying amounts of the acquired net assets as of the Acquisition Date include: � a reduction of long-term debt to reflect the market price of ISS Global's debt obligation under its EMTNs as of the Acquisition Date, resulting in a DKK 1,811 million reduction of long-term debt, which includes reversal of DKK 389 million related to gains on interest rate swaps hedging the fixed interest rate of the EMTNs; � a DKK 107 million increase in pension obligations based on actuarial calculations updated in certain countries in connection with the preparation of the unaudited consolidated interim financial statements of ISS as of and for the nine months ended September 30, 2005; � recognition of transaction-related obligations of DKK 382 million regarding the settlement of options and warrants and certain obligations assumed by ISS as a direct consequence of the Transactions; and � the tax impact from the above adjustments. Additional fair value adjustments must, however, still be made in respect of the assets acquired and liabilities and contingent liabilities assumed, which are to be recognized under the following headings: � customer contract portfolios and related customer relationships; � software and other intangible assets; � property, plant and equipment; � financial assets; � current assets; � pensions (with the exception of the DKK 107 million adjustment mentioned above); and � other provisions as well as contingent liabilities. Furthermore, any other identifiable intangible assets must be recognized at fair value as of the Acquisition Date, including the value of ISS's brands and non-contractual relationships, etc. In particular, adjustments related to the amount to be recognized in respect of customer contract portfolios and related relationships and brands and other intangible assets are expected to be significant. Such fair value adjustments may have an impact on the recognized deferred tax assets and liabilities. As amounts to be recognized in respect of certain of these intangible assets must be amortized over their expected useful lives, ISS Holding will also experience a significant increase in its consolidated non-cash expenses and a corresponding decrease in its consolidated net profit or increase in its consolidated net loss and thereby a reduction of equity. In addition, the tax impact of the above adjustments may be significant. The amounts to be recognized when the purchase price allocation and goodwill calculation are finalized will deviate significantly from those recognized in this unaudited consolidated preliminary interim balance sheet as of September 30, 2005. Furthermore, ISS Holding cannot give any assurance that such adjustments will not also result in increases in the ISS Holding’s consolidated expenses and corresponding decreases in its consolidated net profit or increases in its consolidated net loss and thereby a reduction of equity.
tatiana\Bank Book\Public Bank Book\FINAL ISS PUBLIC Bank IM - Press Release to EMTN_1.doc 9 Nov 2005 10:32 91/91 Table 43: Assets, IFRS (unaudited) 91 As of September 30, Amounts in DKK million 2005 Goodwill 28,236 Customer contracts 1,570 Software and other intangible assets 149 Total intangible assets 29,955 Land and buildings 241 Plant and equipment 1,616 Total property, plant and equipment 1,857 Investment in associates 126 Receivables from associates 164 Other securities and investments 32 Other receivables 167 Deferred tax assets 727 Total financial assets 1,216 Total non-current assets 33,028 Inventories 291 Trade receivables 7,425 Contract work in progress 226 Receivables from Affiliated Companies 1 Other receivables 316 Prepayments 361 Income tax receivable 296 Securities 85 Liquid funds 1,257 Total current assets 10,258 Total assets 43,286 Table 44: Equity and Liabilities, IFRS (unaudited) As of September 30, Amounts in DKK million 2005 Total equity attributable to equity holders of the parent 7,673 Minority interests 58 Total equity 7,731 Pensions and similar obligations 802 Deferred tax liabilities 1,041 Other provisions 295 Total provisions 2,138 Long-term debt 15,699 Total non-current liabilities 17,837 Current portion of other provisions 371 Current portion of long-term debt 4 Interest-bearing loans and borrowings 7,162 Debt to Affiliated Companies 738 Prepayments from customers 304 Trade payables 1,478 Income tax payable 441 Tax withholding, VAT etc. 2,327 Accrued wages and holiday allowances 3,045 Other payables and accrued expenses 1,848 Total current liabilities 17,718 Total liabilities 35,555 Total equity and liabilities 43,286 Appendices
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I. Table of Contents - ISS

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