Annual General Meeting AudioDev AB (publ.)

Today, 26 April 2006, 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 2005. He then presented the interim report for the first quarter of the year. In his presentation he mentioned that AudioDev is of the opinion that the market for optical media will continue to grow, mainly thanks to the introduction of the third generation of optical media, based on blue laser technology. In 2005, AudioDev was the first company to launch testers for both the competing formats, BD and HD DVD. At the same time, AudioDev is of the view that the market as a whole is heading for a more mature phase on a commercial level, and expect the demand for DVD testers in future to be lower than was the case in the record years of 2003 and 2004. Christer Sjöström also mentioned that AudioDev has decided after the end of the period to further streamline operations and give notice of 25 redundancies. It was determined that the board in future would comprise five full members without deputy members. Jan Barchan was re-elected chairman and as other members of the board, Göran Barsby, Per Ludvigsson and Thomas Vonheim, were re-elected. Sigrun Hjelmqvist was elected new member of the board. Payment to the board was fixed at SEK 800,000, 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 2.42 per share proposed by the Board and the President. Recording day for dividends is 3 May 2006. It is anticipated that dividends will be sent out by VPC on 8 May 2006. The meeting further approved the amendments of the Articles of Association proposed by the Board mainly in order to conform with the new Companies Act.