Allocation of SPP surplus funds to Cardo group companies

Allocation of SPP surplus funds to Cardo group companies According to information received, SPP has allocated SEK 73.6 million of its surplus funds to the Cardo group's companies. According to information from SPP, the implementation of the decision is conditional upon it not contravening regulations relating to competition legislation. In view of the uncertainty relating to their utilization and in the light of the Swedish Financial Accounting Standards Council's recommendation regarding computation of the present value of the funds allocated, they will probably be reported at an amount lower than that specified above. Malmö, Sweden, October 27 1999 Cardo AB (publ) For further information, please contact: Sven-Erik Persson, Executive Vice President, phone +46 40 35 04 50, +46 40 35 04 00 Christer Roskvist, Head of Public Relations, phone +46 40 35 04 25, +46 40 35 04 00 Cardo is an international engineering group with a turnover of more than SEK 9 billion. Cardo holds a strong position in the markets for doors, pumps and rail-vehicle brake systems. Cardo has subsidiaries in about 30 countries with the focal point resting in western Europe, and roughly 7,400 employees. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/27/19991027BIT00710/bit0001.doc http://www.bit.se/bitonline/1999/10/27/19991027BIT00710/bit0002.pdf