YEAR-END RELEASE 2003

QUARTERLY REPORT OCTOBER – DECEMBER 2003

* Turnover Jan. – Dec. SEK 2,380 m (2,494)

Oct. – Dec. SEK 571 m (560)

* Income after net financial items Jan. – Dec. SEK 115 m (86)

Oct. – Dec. SEK 61m (21)

* Earnings per share after net financial items Jan. – Dec. SEK 0,64 (0.46)

Oct. – Dec. SEK 0,35 (0.12)

* Profit after tax Jan. – Dec. SEK 85 m (55)

Oct. – Dec. SEK 48 m (20)

* Earnings per share after tax Jan. – Dec. SEK 0,47 (0.29)

Oct. – Dec. SEK 0,27 (0.11)

* Cash flow per share Jan. – Dec. SEK -0,23 (-0.13)

Oct. – Dec. SEK 0,12 (0.13)

* Shareholders’ equity per share SEK 9.50 (31.12.02: 9.33)

* Equity/assets ratio 73 % (31.12.02: 72%)

* Profit after net financial items for the whole of 2003 SEK 115 m includes the effect of changes in insurance reserves of SEK 27 m. On January 22 2004 the company released a positive early warning deviation compared to the earlier prognosis of SEK 86 m.

* The board proposes a dividend of SEK 0.30 per share (0.30) and an extension of the buy-back programme.

* The result for the whole of 2004 is expected to be positive.

(For complete year-end release see attached file)