Bure reduces its holding in Svolder

Bure reduces its holding in Svolder - step in streamlining and sector-focusing Bure has sold more than 1.1 million B shares in Svolder, equivalent to 17.2 th per cent of capital and 6.6 per cent of votes. Buyer is the 6 National Pension Insurance Fund. The sale is a step in the streamlining of Bure's investment portfolio to more sector-focused investments and provides a capital gain in the Parent Company of SEK 63M. In the Group, the effect on the result will be SEK -4M. Following the sale, Bure's holding in Svolder amounts to 8.3 per cent of capital and 32 per cent of votes. Bure has been involved with Svolder as an owner since 1993 and was one of the initiators in the establishment of the company. In addition to the capital gain in the Parent Company, Bure will receive a substantial liquidity contribution. "Svolder has enjoyed a positive value trend and has contributed annually with high dividends as well as good results," says Roger Holtback, President of Bure. "The sale is a natural step in Bure's development towards investments in th operating companies, primarily within the advanced service sector. In the 6 National Pension Insurance Fund, Svolder will get a committed and stable owner. Our remaining holding in Svolder will from now on form part of Bure's normal asset management." th In addition to the now implemented transaction , the 6 National Pension Insurance Fund has an option to acquire an additional 263,000 A shares by 30 November 1999. The difference in the consolidated result effect and the capital gain in the Parent Company is explained by the fact that Bure has been reported in accordance with the equity method. Bure's share of Svolder's profit has over the years been added to the book value in Bure's consolidated accounts which as a result has created a high consolidated value. Gothenburg, 5 November 1998 Investment AB Bure (publ) For further information please contact: Hans Ljungkvist, Chief Financial Officer +46 31-335 76 41 Knut Leman, Director of Corporate Communications +46 31-335 76 75 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/11/05/19981105BIT00200/bit0001.doc http://www.bit.se/bitonline/1998/11/05/19981105BIT00200/bit0002.pdf