Board proposes reduction of share capital and additional share buy-backs

Board proposes reduction of share capital and additional share buy-backs Billerud AB's Board decided today to propose to the Annual General Meeting on 6 May to reduce the company's share capital by SEK 60,387,500, which corresponds to the around 4.8 million Billerud shares owned by the company itself. The Board also decided to propose to the AGM that authorisation be given to the Board to buy back an additional 10% of share capital after the reduction. The purpose is to adjust the capital structure in line with the company's financial targets. The proposal will state that the bought- back shares may be used in connection with a company acquisition. Stockholm 12 March 2003 Billerud AB (publ) Bert Östlund President & CEO For further information, please contact: Bert Östlund, President & CEO, +46 8 553 335 00 or +46 70 518 2757 Nils Lindholm, CFO, +46 8 553 335 07 or +46 70 217 5225 For further information about Billerud, please visit ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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BillerudKorsnäs provides packaging materials and solutions that challenge conventional packaging for a sustainable future. We are a world-leading provider of primary fibre based packaging materials and have customers in over 100 countries. The company has 8 production sites in Sweden, Finland and the UK and about 4300 employees in over 13 countries. BillerudKorsnäs has an annual turnover of about SEK 22 billion and is listed on Nasdaq Stockholm.