Interim Report on the Operations of AB Custos for the Period January 1 - September 30, 2002

INTERIM REPORT ON THE OPERATIONS OF AB CUSTOS FOR THE PERIOD JANUARY 1 - SEPTEMBER 30, 2002 · Total return on Custos shares during the report period was 2.3 percent. · Total return was 44 percentage points better than index. · Net cash amounted to MSEK 140. · Redemption of Custos shares with payment consisting of shares in Pergo plus cash was completed. Total return Total return on Custos shares for the report period was 2.3 percent. Return, January 1, 2002 - September 30, 2002 % Total return on Custos shares 1 2.3 Cost of shareholders' equity 2 5.1 SIX Portfolio Return Index -41.4 SIX Return Index -42.5 1 Return taking into account share price appreciation and, where appropriate, dividend paid and share redemption. 2 Measured as the 12-month Swedish Treasury bill rate plus a risk premium of 3 percent during the nine-month period. Net asset value Total net asset value on September 30, 2002 was MSEK 1,272 (Dec. 31, 2001: 3,046). See page 2, "Change in net asset value." This was equivalent to SEK 172 (Dec. 31, 2001: 224) per share. Value per share is based on 7,380,769 shares (Dec. 31, 2001: 13,570,897) and is calculated on the assumption that the synthetically repurchased shares as provided by a mandate from the Annual General Meeting were redeemed. During the report period, the largest positive impact on net asset value was from Custos' holdings in the automotive retailer Bilia, the office supplies manufacturer Esselte and the forest products group SCA. On September 30, 2002, the market price of a Custos share was SEK 144 (Dec. 31, 2001: 201.50). On September 30, 2002, Custos' discount to net asset value was 16 percent. This was higher than at year-end 2001, when the discount amounted to 10 percent. Number of Custos shares, September 30, 2002 Number of ordinary shares (1 vote) Number of shares registered with PRV 7,409,501 Synthetic buy-backs of Custos' own shares 28,732 Number of shares on which net asset value per 7,380,769 share is based ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/17/20021017BIT00240/wkr0001.doc The Full Report http://www.waymaker.net/bitonline/2002/10/17/20021017BIT00240/wkr0002.pdf The Full Report