Axfood increases its ownership in Spar Finland

Axfood increases its ownership in Spar Finland Axfood AB (publ) has by the time of expiration of the redemption offer period obtained a total of 69.29% of the share capital and total of 75.25% of the votes in Spar Finland Oyj. The Redemption Offer was launched on 1 October 2001 and expired on 1 November 2001. The redemption price was EUR 27.00 both for A and K shares. During this period acceptances representing 47,218 A shares and 30,400 K shares were received. In combination with earlier owned and acquired shares Axfood's ownership amounts to a total of 357,715 A- shares and 429,657 K-shares representing 69.29% of the shares and 75.25% of the votes in Spar Finland. For further information, Mats Jansson, President and CEO of Axfood, tel: +46 8-553 998 10, +46-70- 569 48 11 Lars Nilsson, Executive VP and CFO, tel: +46 8-553 998 11, +46-70-569 66 33 Bodil Eriksson, Executive VP, Corporate Communications, tel: +46 8-553 998 17, +46 70-629 66 34 [REMOVED GRAPHICS] Axfood in brief Axfood is one of the biggest listed companies in the food retail business in the Nordic market. The company operates in food wholesale and retail trade through a number of supermarket chains, featuring brand names such as Hemköp, Axfood Lågpris, Spar, Vivo, and Tempo. Axfood's total net sales in year 2000 were approximately SEK 30 billion. The company employs approximately 8,600 full-timer employees. It has approximately 700 stores in Sweden, of which 250 are wholly or partly owned, and, through Spar Finland, 325 stores in Finland, of which 88 are wholly owned by Spar Finland. The Axfood share is listed on the A-list of the Stockholm Stock Exchange. The largest shareholder is the Axel Johnson AB group with approximately 45 percent of the shares. This press release may not be distributed to or within the US, Canada, Australia and Japan or in any other country in which distribution conflicts with the regulations of such country or requires additional measures than those stipulated under Finnish law. No offer is being made to persons whose participation in the offer requires an additional prospectus, registration or other measures than those required under Finnish law. ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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Axfood AB conducts retail trade through the wholly owned store chains Hemköp, Willys and Willys hemma and wholesale trade through Dagab and Axfood Närlivs. In addition, Axfood collaborates with a number of proprietor-run stores that are tied to Axfood through agreements.