Cardo's acquisition of remainder of Cardo Rail settled

As previously announced, Cardo and ThyssenKrupp entered into a preliminary agreement to the effect that Cardo will take over ThyssenKrupp's 40-percent shareholding in Cardo BSI Rail AB. By means of the acquisition, Cardo will own all the shares in the company.

The Swedish Competition Authority has found no cause to intervene against Cardo's acquisition, which will therefore be realized on December 31 1999.

Malmö, Sweden, December 29 1999

Cardo AB (publ)