USD115 MILLION REVOLVING CREDIT FACILITY

The signing of a USD115,000,000 Multi-currency Revolving Credit Facility for Rottneros AB took place on 4 July 2003.

The Facility is to be used to refinance the Borrower’s existing syndicated facility dated October 2000 and for general corporate purposes. At present no part of this Facility is used. The Facility is split into three tranches, with tenors of 5 years, 7 years and 364 days, carrying a margin dependent on a net debt to equity ratchet of less than 0.5x (75 basis points) and greater than 0.5x (85 basis points).

Danske Bank, as Arranger and Agent, was joined in the syndicate group by Norddeutsche Landesbank (Co-Arranger), BBVA, HSH Nordbank and Nordea Bank Sweden.

Upplands Väsby 2003-07-07

For further information please contact CFO Anders Byström, 070-641 49 14.

Rottneros is one of the world’s leading independent manufacturers of market pulp. The Group consists of the parent company, Rottneros AB, which is listed on the Stockholm Stock Exchange, along with its subsidiaries of Rottneros Rockhammar AB, Utansjö Bruk AB and Vallviks Bruk in Sweden as well as Rottneros Miranda, S.A. in Spain, with activities involving production and sales of market pulp, Rockhammar Timber AB, which produces and sells sawn timber, plus the raw materials purchasing company of Rottneros Baltic SIA in Latvia. The Group has a total of 878 employees and a turnover of approximately SEK 2.7 billion.