Disclosure Notice

DISCLOSURE NOTICE Industrivärden today purchased 125,000 shares in Munters, corresponding to 0.50 percent of the company's votes and capital stock. Following this purchase Industrivärden's total holding amounts to 1,251,550 shares, corresponding to 5.01 percent of the votes and capital stock. Stockholm, Sweden, March, 19, 2003 AB INDUSTRIVÄRDEN (publ) ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/03/19/20030319BIT00930/wkr0001.doc http://www.waymaker.net/bitonline/2003/03/19/20030319BIT00930/wkr0002.pdf