ASSA ABLOY's Incentive Program for employees fully subscribed

ASSA ABLOY has issued four convertible bonds of EUR 25 M each to a company especially established for this purpose. The average share price to be used as reference price was established during five trading days prior to 18 June 2004. This gives following conversion prices:
Series 2004/2009:1        93.40 SEK     10.20 EUR
Series 2004/2009:2      112.08 SEK     12.20 EUR
Series 2004/2009:3      130.76 SEK     14.30 EUR
Series 2004/2009:4      149.44 SEK     16.30 EUR      
Close to 2,000 employees in 15 countries participated. The program will run to June 2009 in line with the maturity of the convertible bonds.
The dilution effect of this program, based on the maximum increase in the number of shares after dilution, will amount to 2.08 percent of the share capital and 1.42 percent of the number of votes.
                          For further information, please contact
Ann Holmberg, Manager Corporate Communications, tel: + 46 8 506 485 54
P.O. Box 70340, S-107 23 Stockholm
Tel: +46 8 506 485 00, Fax: +46 8 506 485 85
Visiting address: Klarabergsviadukten 90

The ASSA ABLOY Group is the world's leading manufacturer and supplier of locking solutions <br> dedicated to satisfying end-user needs for security, safety and convenience. The Group has about 30,000 employees and annual sales of approximately EUR 3 billion.

About Us

ASSA ABLOY is the global leader in door opening solutions and offers mecahnical and electromechanical locks, digital door locks, security doors, entrance automation, hotel security and secure identity solutions, primarily in identity and access management, as well as a number of other related products and services. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international Group with some 47,500 employees operating in more than 70 countries and sales of SEK 76 billion.