Nomination Committee proposes Marcus Wallenberg to be elected new Chairman of Electrolux

As previously communicated, Michael Treschow has declined re-election as Chairman of the Electrolux Board. Electrolux Nomination Committee proposes Marcus Wallenberg to be elected new Chairman at the Annual General Meeting on April 16, 2007.

Marcus Wallenberg is Chairman of SEB, Skandinaviska Enskilda Banken, Saab AB and ICC (International Chamber of Commerce). He is also Deputy Chairman of Telefonaktiebolaget LM Ericsson. He has been a member of the Electrolux Board since 2005.

The proposal has been prepared by the Nomination Committee comprising of representatives of some of the largest shareholders: Börje Ekholm is the Chairman of the Nomination Committee and represents Investor AB (27.6 % of the voting rights at year end). The other members are Ramsay J. Brufer, Alecta Mutual Pension Insurance (7.2 %), Annika Andersson, Fourth Swedish National Pension Fund (2.2 %), Marianne Nilsson Swedbank Robur Funds (1.8 %) and Michael Treschow, Chairman of Electrolux.