Report on operations for the six months ended June 30, 2002

7/19/2002 6:32 AM EST

Report on operations for the six months ended
June 30, 2002

Improvement in net income for the second quarter due to lower
restructuring costs and reduced financial expenses

· Gross margin improved 1.0% to 29.7% compared to the second quarter
last year

· Operating income excluding items affecting comparability increased
by 18% to SEK 60 million (51) despite weak markets

· Restructuring costs were SEK 47 million compared to SEK 196 million
last year

· Financial expenses were reduced by SEK 43 million to SEK 22 million

· Net income was SEK -5 million, compared to SEK -126 million last
year

· J.W. Childs has decided to implement the recommended public offer
to the shareholders of Esselte for all shares of Esselte AB (publ)

· De-listing from Stockholmsbörsen and London Stock Exchange is
planned for 01 August 2002


For further information please contact:
Ulrik Svensson, acting CEO +44 (0) 1895 878 770
Thomas Groth, IR +44 (0) 1895 878 983