Half Year Report 2004

Dear Shareholders,
SHL’s revenues for the second quarter of 2004 amounted to USD 26.4 million with EBIT of USD 1.0 million and net income of USD 226,000.
During the first half of 2004 SHL completed the acquisition of Cardiac Evaluation Center (CEC) in the US and assumed full ownership of PHTS, integrating the former European joint venture with
Philips into SHL.

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