THE NOMINATION COMMITTEE’S PROPOSAL FOR BOARD OF CARDO

Cardo’s nomination committee proposes that the annual general meeting re-elect board members Fredrik Lundberg, who is also proposed for re-election as Chairman of the Board, Peter Aru, Tuve Johannesson, Berthold Lindqvist, Carina Malmgren Heander, Lennart Nilsson and Anders Rydin and elect Ulf Lundahl as a new member of the board.

Ulf Lundahl is 55 years old, a Bachelor of Laws and a graduate business administrator. Ulf Lundahl has held posts that include Executive Vice President of Gota bank, President of Nokia Data and President of Östgöta Enskilda Bank, and since 2004 has been Executive Vice President of L E Lundbergföretagen AB. At present, Ulf Lundahl holds directorships in organizations that include Holmen AB, Indutrade AB, Ramirent AB and St Erik’s Eye Hospital.

Bengt Pettersson has declined re-election as a member of the board.

As the Group’s auditors, the nomination committee proposes re-election of Ernst & Young for a further term of four years.

In addition, the nomination committee proposes that the board fee remain unchanged.

The nomination committee proposes that Fredrik Lundberg be appointed chairman of Cardo’s annual general meeting 2008, which will take place in Malmö at 5.00 pm on April 7.

The Company has been informed that L E Lundbergföretagen AB has replaced its representative on the nomination committee by Claes Boustedt.

Malmö, Sweden, January 31 2008
Cardo AB (publ)