Report on Operations full year 2003

Report on Operations full year 2003 - Sales declined by 4% and reached 13,036 MSEK (13,643) - Sales and operating income were up 3% in local currencies - Net profit in Swedish Crowns increased by 9% and amounted to 1,558 MSEK (1,429) - EPS increased by 14% and was 4.68 SEK (4.10) - Continued strong cash flow - The Board proposes an increased dividend to 1.70 SEK (1.60) For further information, please contact: Lennart Sundén, President and Chief Executive Officer Office +46 8 658 01 75 Sven Hindrikes, Executive Vice President and Chief Financial Officer Office +46 8 658 02 82, Mobile +46 70 567 41 76 Bo Aulin, Senior Vice President, Secretary and General Counsel Office +46 8 658 03 64, Mobile +46 70 558 03 64 Emmett Harrison, Vice President, Investor Relations Office +46 8 658 01 73, Mobile +46 70 938 01 73 Lin McKinnie, Vice President, Investor Relations (US) Office +1 804 302 1912, Mobile +1 804 868 8127 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/11/20040211BIT20310/wkr0006.pdf The full report

About Us

Swedish Match develops, manufactures, and sells quality products with market-leading brands. Swedish Match’s product areas are Snus and moist snuff, Other tobacco products (cigars and chewing tobacco), Lights (matches, lighters, and complementary products), and Other operations. Production is located in six countries, with sales concentrated in Scandinavia and the US. The Swedish Match share is listed on Nasdaq Stockholm (SWMA). Swedish Match’s vision is a world without cigarettes. Some of its well-known brands include: General, Longhorn, White Owl, Red Man, Fiat Lux, and Cricket.

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