Carina Malmgren Heander proposed as new director of Cardo

Cardo’s nominations committee, consisting of Fredrik Lundberg (chairman of Cardo’s board), L E Lundbergföretagen AB, Mats Andersson, National Swedish Pension Fund, Third Fund Board and Ramsay Brufer, Alecta, who together represent approximately 47 percent of both the number of shares and votes in Cardo AB (publ), has informed the company that it intends to recommend to the 2004 annual general meeting that the election of the board of directors be as follows:

Re-election of the present members of the board and election of Carina Malmgren Heander.

Carina Malmgren Heander is 44 and a graduate business administrator. Since 1989, she has been involved in operative industrial matters in leading positions with the ABB group. Between 1998 and 2003, she was vice president human resources and a member of the Swedish group management team at ABB. From 2002-2003, she was also president of ABB Group Services Center AB. Since October 2003, she has been vice president human resources and a member of the group management team at Sandvik AB.

Malmö, Sweden, January 21 2004

Cardo AB (publ)

Board of Directors

Any questions will be answered by
Chairman of the Board Fredrik Lundberg, phone +46 11 21 65 00
Carina Malmgren Heander, phone +46 26 26 10 44, +46 70 205 86 00