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Major owners take initiative to examine leveling of voting rights

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In connection with the upcoming B-share rights offering, Ericsson's two largest shareholders, Investor AB and AB Industrivärden, as well as other large owners Alecta, Robur Fonder, Nordeas fonder, AMF Pension, Skandia, Fjärde AP-fonden, SEB Fonder, Första AP-fonden, Andra AP-fonden, Handelsbanken Fonder, SEB Trygg Liv, Tredje AP-fonden, SPP Livförsäkring AB, Handelsbankens Pensionsstiftelse and Pensionskassa, Sjätte AP-fonden are in agreement on the following:

We are in agreement that business interests are the key determining factor for participation in the rights offering.

However, with respect to the importance of the question of voting rights for all share holders and with regard to compensation for A-shareholders, the above-named major owners and large owners wish to examine how a leveling of the difference in voting rights from a thousand to one to ten to one can be accomplished.

Therefore the above named shareholders have assigned Ericsson's Chairman of the Board Michael Treschow to lead the task to find forms for leveling the differences in voting rights. Major owners Investor and Industrivärden and the above named large owners will be involved in the process. A proposal is to be presented in good time prior to the AGM's of Ericsson, Investor and Industrivärden in 2003.

"Now, the most important issues are the legal conditions, compensation to A-shareholders and that, the question of voting rights is not mixed up with the ongoing process of the rights offering," said Ericsson's Chairman of the Board Michael Treschow.

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Read more at http://www.ericsson.com/press

FOR FURTHER INFORMATION, PLEASE CONTACT
Pia Gideon, Vice President, External Relations
Phone: +46 8 719 2864, +46 70 519 2864
E-mail: pia.gideon@lme.ericsson.se

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