Terms and conditions for redemption of AGA shares

TERMS AND CONDITIONS FOR REDEMPTION OF AGA SHARES The Board of Directors of AGA today announced its complete proposal to the Annual General Meeting, to be held on April 22, 1999, with regard to the offering of a redemption of shares. An approximate total of SEK 3.4 billion will be distributed to the shareholders, with every tenth share being redeemed at the price of SEK 140. The reason for the increased scope of the redemption program, compared with the earlier announced amount of approximately SEK 3 billion, is the received profit from the sale of the total shareholding in Industrivärden. On the record day, April 27, 1999, shareholders in AGA will receive redemption rights in a number equivalent to the number of shares they hold. The AGA share will be traded ex-rights to redemption, as of April 23, 1999. The application period for share redemption is from May 4 to June 2, 1999. The redemption rights will be traded on the Stockholm Stock Exchange between May 4 and May 28, 1999. A maximum of 1,000 redemption rights can be sold commission-free, by application on a special form, during May 4 to May 18, 1999. Payment of the redemption amount will take place on or about June 29, 1999. The redemption rights will be of two series, with Series A redemption rights entitling the bearer to redemption of Series A shares and Series B redemption rights entitling the bearer to Series B shares. Ten redemption rights of one series are required to redeem one share of the corresponding series. When fully subscribed for, 24.3 million shares, corresponding to 10 percent of the total number of shares outstanding, will be redeemed. The Board of Directors proposes that the redemption amount per redeemed share be the same for Series A and Series B shares. The proposed redemption amount per share is SEK 140. To simplify the formal handling and hasten payment to shareholders, the Board of Directors proposes that the Meeting resolve to carry out a new issue of Series B shares and a new issue of a new share class, Series C shares. Through the issue of B shares, all decisions pertaining to the redemption process may be taken by the Annual General Meeting. The purpose of issuing and, later in the year, redeeming Series C shares would be to shorten the period during which shareholders must wait to receive cash for shares redeemed. Provided that the Meeting approves the Board's proposal, the offer of redemption will be presented in detail in a brochure which will be enclosed with the registration forms to be distributed to shareholders at the beginning of May. Copies of the brochure and further registration forms will be available from AGA and at the branches of Svenska Handelsbanken from the same date. For further information please contact Leif Jonsson, Vice President Group Treasurer, phone +46 8 731 1176 or Maris Sedlenieks, Vice President Corporate Communications, phone +46 8 731 1050. Lidingö March 26, 1999 AGA Aktiebolag (publ) Corporate Communications ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/26/19990326BIT00420/bit0001.doc http://www.bit.se/bitonline/1999/03/26/19990326BIT00420/bit0002.pdf