Expansion of Cardo's options program for new executives

In September 1998, 44 leading officers at Cardo subscribed for a total of 405,000 call options in Cardo AB. The issuer was L E Lundbergföretagen AB, which has now granted a further 66,000 options on market terms to 8 leading officers who recently took up their posts. Cardo's board of directors has today approved the expansion of the options program. Between 2,000 and 20,000 options per person have been allotted.

As under the previous program, each option carries the right to acquire one share in Cardo AB at the exercise price of SEK 172 during the period August 1 - September 30 2003. Handelsbanken Investment Banking has estimated a market value for the options. The price, which is based on the average share price of SEK 154 over the period November 14 - 20 2000, has been established at SEK 17 per option.

Malmö, Sweden, November 21 2000

Cardo AB (publ)

For further information, please contact:
Christer Roskvist, Head of Public Relations, phone +46 40 35 04 25, +46 40 35 04 00

About Us

Cardo is a world-leading supplier of industrial doors and logistics systems, wastewater treatment systems, process equipment for the pulp and paper industry and garage doors. Operations are pursued in the Group’s divisions: Door & Logistics Solutions, Wastewater Technology Solutions, Pulp & Paper Solutions and Residential Garage Doors. With sales of almost SEK 10 billion and more than 6,000 employees worldwide, Cardo delivers solutions that help to solve some the toughest challenges of our time in the fields of water, transportation and energy. Corporate headquarters are located in Malmö, Sweden.

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