Annual General Meeting AudioDev AB (publ.)

Today, 28 April 2005, the shareholders of AudioDev AB (publ) held the Annual General Meeting in Malmö. The meeting adopted the Annual Report and consolidated financial statements and agreed to the disposal of unappropriated earnings for the year as proposed in the directors’ report. The meeting discharged the Board of Directors and the President from liability for the financial year. In his speech Christer Sjöström, CEO of AudioDev, informed the meeting about operations during the year 2004. He then presented the interim report for the first quarter of the year. In his presentation he touched on the slump currently affecting the production and test equipment industry, saying that it is largely due to overcapacity and uncertainty about the launch of the new BD and HD DVD formats and associated investment plans. How long the slump will go on is hard to determine, although it now seems overproduction in Asia is easing up, meaning that the market may recover somewhat in the second half of the year. Uncertainty about the launch of BD and HD-DVD will in all probability diminish. He also said that AudioDev is monitoring market development but is not at present planning to take any actions other than enforcing strict cost control and predetermined reduction in activities. Apart from this the agreed plans for 2005 continue to run. It was determined that the board in future would comprise four full members and one deputy member. Jan Barchan was elected to be the new chairman and as other members of the board, Göran Barsby, Per Ludvigsson and Thomas Vonheim, were re-elected. Payment to the board was fixed at SEK 650,000, the chairman to receive SEK 200,000 and the other members SEK 150,000 each. The ordinary annual general meeting approved the dividend of SEK 2.20 per share proposed by the Board and the President. Recording day for dividends is 3 May 2005. It is anticipated that dividends will be sent out by VPC on 9 May 2005. For more information, please contact: Christer Sjöström, CEO, Tel: +46 40 690 49 00 Marielle Noble, Investor Relations, Tel: +46 40 690 49 05, Mobile: +46 709 694 980