Bure acquires the lift systems in Vemdalen and forms Fjällinvest

Bure acquires the lift systems in Vemdalen and forms Fjällinvest - Åre and Vemdalen in collaboration Investment AB Bure is acquiring the skiing facilities which comprises the lift systems in Vemdalsskalet and Björnrike as well as ski-schools and sports activities. Bure, which - following its acquisition of Åre Invest AB earlier this year - took over the ownership in Å.R.E. AB, is thus expanding its interest in Swedish alpine tourism. Together, the facilities in Vemdalen and Åre account for approximately 25 per cent of the Swedish market. Bure is acquiring the skiing facilities in Vemdalen, which consist of 16 lifts with 33 downhill pistes, from the Anders Holmberg family. The lift operations have a turnover of approximately SEK 30M and are now the fourth largest lift system in Sweden. Operations will be carried out by a new company under the name of Vemdalsfjäll AB. Åre Invest owns 95 per cent of the shares in Å.R.E. AB which, among other things, owns and operates the lift systems in Åre. Åre Invest will change its name to Fjällinvest AB in which Å.R.E and Vemdalsfjäll will be included as two parallel subsidiaries. "Åre/Vemdalen has the best natural criteria in Sweden for alpine skiing and is able to offer varied skiing of very high quality. I see a continued significant development-potential focusing on skiing and the respective advantages of the two locations on which to build further," says Ingemar Lindström, Head of Fjällinvest and Managing Director of Å.R.E. AB and adds: "The acquisition of the skiing facilities in Vemdalen means a new combined strength and improved competitiveness for the two alpine regions in the County of Jämtland. Together, the facilities will account for approximately 25 per cent of the Swedish market." Fjällinvest will have a turnover in excess of SEK 200M and is expected to show sound profitability. Gothenburg, 2 July 1997 Investment AB Bure (publ) For further information, please contact: Ingemar Lindström, Managing Director, Å.R.E. +46 10-680 39 66 Anders Holmberg, C&A Holmberg AB +46 8-663 06 90, 70-640 28 80 Per Henrik Berthelius, Investment AB Bure +46 31-335 76 35

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