Notice to attend Extraordinary General Meeting in Observer AB (publ)

PRESS RELEASE from Observer AB, quoted on the Attract 40 section of Stockholmsbörsen's O-list and with around 28,000 shareholders Stockholm, Sweden, March 1, 2002 Notice to attend Extraordinary General Meeting in Observer AB (publ) The shareholders in Observer AB (publ) are hereby summoned to extraordinary general meeting on Monday, 18 March 2002 at 4 p.m. Place: The company's premises at Linnégatan 87 in Stockholm NOTIFICATION Shareholders who wish to attend the general meeting shall: - be registered in the share register kept by VPC AB ("VPC") as at 8 March 2002, - and, no later than 4 p.m. on Tuesday 12 March, notify the company of their intention to attend the general meeting. The notification shall be made in writing to the address Observer AB, 114 88 Stockholm, by telephone, 08-507 410 13, or, by facsimile, 08-507 410 25. The notification shall contain name, social-security/registration number, address and telephone number, as well as registered shareholding. The number of assistants to attend the meeting (no more than two) shall also be stated. In the event a shareholder intends to be represented by proxy, power of attorney for the representative and other authorising documents are to be appended to the notification. Shareholders who have had their shares registered with the notary department of a bank or with a private securities broker, must, in order to be entitled to attend the general meeting, temporarily register their shares in their own names with VPC. Such registration, which normally takes a couple of days, shall be effected (registered with VPC) no later than on 8 March 2002 and the custodians should therefore be notified in good time before said date. PROPOSAL FOR AGENDA The following matters will be addressed at the general meeting. 1. Opening of the meeting and election of chairman at the meeting 2. Drawing up and approval of voting list 3. Determination as to whether the meeting has been duly convened 4. Approval of the agenda 5. Election of one or two persons to verify the minutes 6. Resolution on approval of the board of directors' decision of 1 March 2002 to issue new shares with pre-emption rights for the shareholders to subscribe for new shares. 7. Closing of the meeting. 8. The board of directors' decision to issue new shares implies, in brief, an increase of the share capital of the company of no more than SEK 16,705,716 through the issue of no more than 11,137,144 new shares (subject to such increase of the share capital and number of shares as may subsequently be effected as a consequence of subscriptions for shares through the exercise of warrants and conversions into shares of convertible debentures), each with a nominal value of SEK 1.50. The new shares will be issued at a price of SEK 37 per share and will be subscribed for pursuant to she pre-emption rights of the shareholders, whereby five old shares shall entitle to subscription for one new share. Subscriptions for new shares through conversion of convertible debentures are to be effected no later than on 22 March 2002 in order to entitle the holder to participate in the issue. This implies that an application for subscription for new shares or conversion must have reached the company in good time before said date. Subscriptions for new shares shall be made during the period 3 - 19 April 2002. Subscriptions for shares pursuant to pre-emption rights shall be effected through cash payment no later than on 19 April 2002. Shares, which are not subscribed for pursuant to pre-emption rights, will be allotted at the discretion of the board of directors. The board may decide to extend the period for subscription and payment. The record date for taking part in the issue shall be 26 March 2002. The board of directors' full resolution to issue new shares in accordance with item 6 and the documentation required by Chapter 4 Sections 4 of the Companies Act, will be available at the company's address from 11 March 2002, and will be sent to shareholders who so request and state their postal address. Stockholm, March 2002 Observer AB (publ) The board of directors N.B. The above text is an unauthorised translation of the Swedish original and the Swedish text shall prevail. A notice of the extraordinary general meeting will be published in the Official Swedish Gazette, Svenska Dagbladet and Dagens Nyheter on Monday, March 4, 2002. For further information, please contact: Per Blixt, Senior VP Corporate Communications, telephone: +46 8 507 410 12/ +46 70 549 28 08, e-mail: per.blixt@observergroup.com Not for distribution in the US, Australia, Japan or Canada. The Offer does not apply to persons whose participation requires further prospectuses, filings or other measures in excess of those implied by Swedish law. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/03/01/20020301BIT00680/wkr0001.doc http://www.waymaker.net/bitonline/2002/03/01/20020301BIT00680/wkr0002.pdf