BTL Annual General Meeting

BTL Annual General Meeting 1999 The BTL Annual General Meeting in Göteborg on 3 May was a clear indication that business operations are moving into a broader domain on the European market. The leading land transport network in Europe had already been established in 1998 under the name Schenker-BTL. Total integration is currently taking place with regard to ownership. BTL AB is now virtually a wholly-owned subsidiary (98%) of the Stinnes Group, which also owns the German transport and logistics group Schenker AG. As a result of the change in ownership BTL AB was delisted from the stock exchange on 30 April. BTL's and Schenker's land transport operations, Schenker-BTL, will become a division of Schenker AG. The Schenker-BTL network, with operations in 30 countries, will be run from Göteborg under the leadership of the BTL chief executive Håkan Larsson. "We have established a good base for our future European operations. The synergies will be noticeable in the next few years," says Håkan Larsson. "The integration of Schenker and BTL companies in 17 countries has been completed and we are now concentrating on developing our transport and logistics services and improving the efficiency of our network." It was decided at the Annual General Meeting that a dividend of SEK 1.20 per share will be paid to the shareholders, making a total of SEK 135 million. The record day will be 6 May. Klaus Ridder, director of finance at Stinnes AG, was elected as a new member of the BTL board. The following members were re-elected: Janeric Axelsson, Thomas Held, Antti Lagerroos, Håkan Larsson and Bernd Malmström. Hans Larsson and Gunnar L. Johansson declined to stand for re-election. Authorised public accountants Nils Brehmer and Lennart Wiberg were re-elected. ./. BTL AB (publ) For further information, please contact: Marie Gustavsson, Communications Manager of BTL, tel. +46 31 703 82 44, mobile +46 705 33 43 99. Håkan Larsson, Group Chief Executive of BTL, tel. +46 31 703 80 10. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/05/03/19990503BIT00800/bit0001.doc http://www.bit.se/bitonline/1999/05/03/19990503BIT00800/bit0002.pdf