At mid-year, Alf Göransson will be leaving his post as head of the Cardo Rail business area

At mid-year, Alf Göransson will be leaving his post as head of the Cardo Rail business area in order to take up a position as president and CEO of Svedala Industri AB. The search for a new business area head has begun. "Alf Göransson has very successfully implemented the extensive restructuring of our rail operation and established a new structure for a continued positive trend for Cardo Rail", says Cardo's president and CEO Kjell Svensson. "The work to achieve the profitability targets set for Cardo Rail is now in all essentials complete, and I should like to wish Alf the best of luck in the new and higher position that awaits him outside the Cardo group". Malmö, Sweden, January 10 2000 Cardo AB (publ) For further information, please contact: Kjell Svensson, President and CEO, phone +46 40 35 04 53, +46 40 35 04 00 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/2000/01/10/20000110BIT00460/bit0001.doc http://www.bit.se/bitonline/2000/01/10/20000110BIT00460/bit0002.pdf