Rotterdam, 25 August 2004 - Hunter Douglas, the world market leader in window coverings (Luxaflex®), and a major manufacturer of architectural products (Luxalon®) reports results for the first half 2004.

Sales were EUR 866.8 million, 7.7% higher than EUR 805.2 million in the first half of 2003. The sales increase reflects an 8.3% volume increase, 5.1% negative currency impact and 4.5% contribution from acquisitions. All geographic regions had organic growth.

Europe accounted for 39% of sales, North America 48%, Latin America 4%, Asia 6% and Australia 3%. Window Coverings were 90% and Architectural and Other Products 10% of total sales.

Net profit was EUR 57.1 million, 14.9% higher than EUR 49.7 million in the first half of 2003. This increase was achieved despite a EUR 6.0 million negative effect from the lower USD. Profits were higher in all regions.

Net profit per average outstanding common share increased to EUR 1.40, compared with EUR 1.18 for the first 6 months of 2003, adjusted for stock dividends.

Capital expenditures in the first half year 2004 were EUR 23 million compared with EUR 26 million during the same period last year, while depreciation was EUR 26 million.

The investment portfolio had a net market value on June 30, 2004 of EUR 452.4 million. The portfolio's return in USD was 4.0%. Net investment income, after deduction of imputed interest, expenses and provisions was EUR 3.0 million, the same as the first six months of 2003. Management of these assets is delegated to a widely diversified group of independent managers.

Shareholder's equity was EUR 900 million, up from EUR 871 million at the end of 2003.

Hunter Douglas had approximately 16,500 employees at the end of June 2004.

The shareholder's meeting of June 8, 2004 approved the distribution of a cash dividend of EUR 1.30 per common share with an option to receive a stock dividend in lieu of cash.



Second quarter 2004

Second quarter sales were EUR 467.5 million, 4.8% higher than EUR 446.1 million in the same period last year. The increase reflects an 8.0% volume increase, 3.5% negative currency impact and 0.3% contribution from acquisitions. Sales were higher in all regions, except Europe.

Second quarter net profit was EUR 34.4 million, 15.1% higher than EUR 29.9 million in the second quarter 2003. Profits increased in all regions. The increase was achieved despite EUR 3.2 million negative effect from a lower USD.

Sales by Region first half year 2004

Europe

Sales in Europe increased by 5% to EUR 342 million. The volume increase was 2% and contribution from acquisitions 3%.

North America

Sales in North America increased by 20% in dollars of which 7% was attributable to acquisitions. Sales in Euros increased 10% to EUR 413 million, reflecting a 13% volume increase, 10% negative currency impact and 7% contribution from acquisitions.

Latin America

Latin American sales were EUR 31 million, 15% higher than in the same period last year. The sales increase reflects a 19% volume increase and 4% negative currency impact.

Asia

Asian sales were EUR 52 million, 6% higher than in the first half of 2003. The sales increase reflects a 12% volume increase and 6% negative currency impact.

Australia

Australian sales were EUR 29 million, 16% higher than in the same period last year, reflecting an 8% volume increase and 8% positive currency impact.

Outlook

Economic conditions improved in most markets. Hunter Douglas continues to see substantial potential for growth and remains cautiously optimistic about the outlook for 2004 in view of the strong position of its products, distribution and finances.

Profile Hunter Douglas

 Hunter Douglas has its head office in Rotterdam, The Netherlands, and a management office in Lucerne, Switzerland. The Group is comprised of 158 companies with 64 manufacturing and 94 assembly plants in more than 100 countries.

The common shares of Hunter Douglas N.V. are traded on the Dutch and German stock exchanges.

For further information:
Werner Oppliger
Executive Vice President and Chief Financial Officer
Tel. +41 41 419 27 72
Fax. +41 41 419 29 73
Website: www.hunterdouglasgroup.com

A consolidated Statement of Income for the first half year (Annex 1) and the second quarter (Annex 2), Balance Sheet (Annex 3), and Sales change attribution percentages by geographic region for the first half year and second quarter (Annex 4) are attached.