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Mandriva First Half year 2003/2004:

Audited net result increased by 511K€

compared to the April 2004 announcement

As part of the plan to transfer Mandriva trading to a regulated market, a half-year audit has been completed for the period ending March 31, 2004. The results are now available. The audited figures were adjusted as compared to the previous unaudited figures, released on April 22nd.

Compared to the April 22nd result, the net result increased from 0,31 M€ (0,07 € per share) to 0,82 M€ (0,17 € per share). This difference is explained mainly by non-recurring elements:
- An exceptional gain of 540KE due to claims not filed by the deadline against the company during chapter 11.
- A negative adjustment of 16KE due to a claim on a distributor who failed.
- Other smaller adjustments.

The 817 KE net result enables the company to improved its shareholder equity by the same amount. Note that other exceptional positive results could potentially impact the next fiscal half-year.

(M€) (Period Oct. - Mar.)	03/31/2003 (*)	03/31/2004 (1)	31/03/2004 (*) (2)
	6 Months	6 Months	6 Months
Revenues	2.09	2.52	2.52
Gross Margin	1.54	2.11	2.12
Gross Margin %	74%	84%	84%
Operating Result	-1.27	0.16	0.21
Net result	-1.23	0.82	0.31

(*) Unaudited
(1) Audited
(2) As per 22nd April announcement

About Mandriva

Mandriva is a leading Linux and Open Source Software (OSS) editor. (OSS source code is freely accessible according to the GPL, the General Public License). Mandrivasoft develops and distributes the Mandriva Linux operating system. Hundreds of developers around the world contribute to the continuous improvement of the product via Internet and contribute to its internationalization (with more than 67 languages available). The company also provides related on-line and off-line services including consulting, education, support, and the Mandriva Club.
Mandriva has offices in France, USA and Canada. Since July 30th , 2001, the company is listed on Euronext Marché Libre and OTC US

Euronext: ISIN: FR0004159382, Mnemo: MLMAN, Reuters: MAKE.PA, Bloomberg: MLMAN FP
Pink Sheets: MDKFF
Number of shares : 4 753 906

Contact Mandriva
Jacques Le Marois/ Thierry Bossut
investors @ mandrakesoft . com

For additional information: mandriva.com/company/investors/newsletter

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