Press release from the Annual General Meeting of AB Custos, April 14, 1999

Press release from the Annual General Meeting of AB Custos, April 14, 1999 * The Annual General Meeting approved a dividend of SEK 11.50 per share for 1998 (for 1997: SEK 7.25). * In keeping with the decision in principle of an earlier Extraordinary General Meeting, the Meeting approved a proposal giving shareholders the right to redeem every fifth Custos share for a payment of SEK 210 per share. * The Meeting authorized the Board of Directors to implement synthetic buy- backs of Custos shares. Total return, January 1 - March 31, 1999 Total return on Custos shares for the January-March period was 9.6 percent for Series A shares and 10.0 percent for Series B shares. Return was thus about 8 percent above the cost of shareholders' equity. The Findata Yield Index rose by 6.6 percent during the same period. Net asset value, March 31, 1999 Net asset value per Custos share was calculated at SEK 201 (Dec. 31, 1998: 192). In calculating net asset value on March 31, 1999, the 7.8 million Custos shares on which shareholders have applied for redemption have been taken into account. Custos' net asset value on April 13, 1999 was calculated to SEK 210 per share. Decisions at the Annual General Meeting Dividend The dividend for the 1998 financial year was fixed at SEK 11.50 per share (for 1997: SEK 7.25) and the record date on April 19, 1999. The dividend is expected to be paid on April 26, 1999. Redemption of Custos shares In keeping with the decision in principle of the Extraordinary General Meeting of January 26, 1999, the Annual General Meeting approved a reduction of Custos' share capital by MSEK 196.1 to MSEK 796.1 by redeeming 7,843,479 shares: 5,877,781 Series A shares and 1,965,698 Series B shares. The Annual General Meeting approved a redemption payment of SEK 210 per share, or a total of MSEK 1,647.1. Payment of the redemption amount is expected to occur about May 4, 1999. This is possible because Custos is receiving an amount equivalent to the reduction in share capital by means of a targeted new share issue to the National Pension Insurance Fund, Sixth Fund Board of Series C shares (subordinated shares). The National Pension Insurance Fund, Sixth Fund Board has undertaken to apply for redemption of these shares immediately after issue. The redemption amount for the subordinated shares will be SEK 25 per share plus interest of the 90-day STIBOR plus 1.5 percentage points from April 21, 1999. After the redemption is completed, Custos' share capital will amount to MSEK 796.1, divided into 31,845,613 shares: 23,855,112 Series A shares and 7,990,501 Series B shares. Decision in principle regarding synthetic buy-backs of Custos' own shares The Annual General Meeting approved a proposal to authorize the Board of Directors to implement buy-backs of a maximum of 5,000,000 of Custos' own shares by the date of the next Annual General Meeting. Liquidation clause After consideration in compliance with the Articles of Association, the Annual General Meeting decided that Custos shall not be liquidated. Board of Directors Per-Olof Eriksson, Christer Gardell, Leif Gustafsson, Sven Hagströmer, Sten K Johnson and Mats Qviberg were re-elected and Magnus Henrekson was elected as a new member of the Board. Mats Lederhausen and Björn Savén had declined re- election. At its subsequent statutory meeting, the Board re-elected Sven Hagströmer as its Chairman. Auditors As Auditor until the end of the Annual General Meeting held during the fourth financial year after this Meeting, the Annual General Meeting re-elected the public accounting firm of KPMG Bohlins AB, with Per Bergman as the Chief Auditor in charge. Amendments to the Articles of Association Because of the above decision to reduce the share capital and issue new Series C shares, the Annual General Meeting approved amendments to the Articles of Association regarding the limits on the size of Custos' share capital, the highest number of shares of each type and the terms for Series C shares. The Meeting also approved amendments aimed at harmonizing the Articles of Association with new provisions of the Swedish Companies Act which went into effect on January 1, 1999. Amendments were made regarding the official notice periods for a General Meeting, how official notice is to occur, the term of auditors and the fact that the General Meeting must now approve the proposed agenda. A new regulation was added regarding the final notification date to participate in a General Meeting as well as notification of any assistants. The Annual General Meeting also decided that consideration of whether to liquidate Custos shall be included in the list of mandatory items of business to be dealt with at an Annual General Meeting. Information schedule Interim Report, January 1 - March 31 April 29, 1999 Interim Report, January 1 - June 30 July 30, 1999 Interim Report, January 1 - September 30 October 29, 1999 Stockholm, April 14, 1999 AKTIEBOLAGET CUSTOS (publ) Christer Gardell Chief Executive Officer This press release is published in Swedish and English. In the event of any difference between the English version and the Swedish original, the Swedish version shall govern. Questions will be answered by Christer Gardell (+46-8 440 57 70) AB Custos, P.O.Box 1738, SE-111 87 Stockholm, Sweden. Phone +46-8 440 57 70, Fax +46-8 440 57 80, Web address: www.custos.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/14/19990414BIT00520/bit0001.doc http://www.bit.se/bitonline/1999/04/14/19990414BIT00520/bit0002.pdf