Favorable verdict in tax litigation

Stockholm, November 6, 1998 Favorable verdict in tax litigation The Stockholm County Court today announced its verdict in tax litigation between Electrolux and the Stockholm Tax Board. The litigation referred to the fiscal treatment of the liquidation of a foreign subsidiary in 1993. In 1995 the Board requested an increase of the company's taxable income by about SEK 1,300m, which would have generated a tax liability of about SEK 350m. In the verdict the Court rejects the tax authorities' request to adjust the taxable income of AB Electrolux. In Electrolux view there was no legal basis for the request, and the Group has therefore not made any provision for a possible tax liability. The verdict will thus have no effect on Electrolux income or financial position. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/11/06/19981106BIT00280/bit0001.pdf http://www.bit.se/bitonline/1998/11/06/19981106BIT00280/bit0002.doc