Statement from the board of directors of Eniro

STATEMENT FROM THE BOARD OF DIRECTORS OF ENIRO SEAT Pagine Gialle S.p.A. ("SEAT") announced a public offer (the "Offer") to shareholders and holders of warrants in Eniro AB (publ) on 23 April 2001. In connection with the announcement of the Offer, the Board of Directors of Eniro made a statement to the effect that the Offer corresponding to SEK 164 per Eniro share and SEK 63,80 per warrant issued by Eniro, was fair from a financial point of view. This statement was based on an exchange ratio of 12.25 SEAT-share per share of Eniro. At the same time all holders of Eniro shares, who on 20 April 2001 were registered as shareholders in Eniro, were offered a possibility to sell a maximum of 1,000 Eniro shares for SEK 164 in cash. The average price for the SEAT share during the last 10 trading days is approximately Euro 1.16 which is 21 per cent lower than at the time of announcement of the Offer. This means that the share exchange in the SEAT offer corresponds to approximately SEK 128 per Eniro share to be compared with the value of the Offer at announcement of SEK 164. In view of the development of the SEAT share the Board of Directors has made the assessment that the share exchange does not represent a higher value to shareholders than what Eniro is likely to achieve as a stand alone company. The board can therefore no longer maintain its recommendation to the shareholders to accept the share exchange included in the Offer. The Board of Directors has been informed that the company's principal shareholder, Telia, will not accept the Offer. The decision by the Board of Directors was unanimous. In order to avoid any conflict of interest, the directors Marianne Nivert and Jan Rudberg have not participated in the decision. Carnegie is financial advisor to the Board of Directors of Eniro. Stockholm 31 May 2001 Eniro AB (publ) The Board of Directors For further information: John Abrahamson, Director, Eniro +46-705 17 10 04 Lars Guldstrand, CEO, Eniro +46-705 28 81 81 Samir Kamal, D. Carnegie AB +46-708 76 85 65 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/31/20010531BIT01360/bit0002.doc http://www.bit.se/bitonline/2001/05/31/20010531BIT01360/bit0002.pdf