Axis: Communiqué from the Annual General Meeting of Axis AB (publ)

The Annual General Meeting of Axis AB on May 13 re-elected all members of the Board: Mikael Karlsson, Patrik Tigerschiöld, Martin Gren, Nils Rydbeck and Lars-Erik Nilsson. At the following Statutory Meeting of the Board of Directors, Mikael Karlsson was elected Chairman of the Board. Patrik Tigerschiöld and Lars-Erik Nilsson were elected as members of the Compensation Committee. The Meeting also decided to authorize the Board, during the period until the next Annual General Meeting, to make decisions on one or more occasions pertaining to new share issues totalling not more than 6,821,100 shares. In this regard, the Board shall have the right to waive the preferential rights of shareholders and the provision stated in Chapter 4, § 6 of the Swedish Companies Act. The issue price for the new shares shall, in each instance, be set as close as possible to the market price of the Company's share. The purpose of the authorization is to enable corporate acquisitions to be made with payment entirely or partly in Axis shares. Full exercise of the authorization would result in a dilution of the Company's share capital not exceeding 9.9 percent (excluding possible dilution that may result from the exercise of those warrants - the 1999/2004, 2000/2005, 2000/2005, 2001/2006 and 2000/2010 warrants - that entitle the holders to subscribe for shares during the period of validityof the authorization, that is, the period until the next Annual General Meeting, which dilution could amount to a maximum of 3.4 percent). The Company's and the Group's income statements and balance sheets were adopted and the Board of Directors and the President were discharged from liability for the fiscal year 2003. All decisions of the Annual General Meeting were taken with required majority.