Sony and Ericsson Boards approve Joint Venture

Sony and Ericsson Boards approve Joint Venture Telefonaktiebolaget LM Ericsson and Sony Corporation announced today that their respective Boards have approved the Mobile Phone Joint Venture. During meetings in Stockholm, the Board of directors of both parent companies confirmed that the new company, Sony Ericsson Mobile Communications AB, will start operations on October 1, 2001, subject to necessary approvals from regulators. The Board of Sony Ericsson Mobile Communications AB will include Kurt Hellström, President and Chief Executive Officer of Ericsson, Kunitake Ando, President and Chief Operating Officer of Sony Corporation, Sten Fornell Executive Vice President and Chief Financial Officer of Ericsson, Teruhisa Tokunaka, Executive Deputy President and Chief Financial Officer of Sony Corporation, Morgan Bengtsson, President of Ericsson Japan, Otto Zich, Chairman and Chief Executive Officer of Sony Europe, Katsumi Ihara, President of Sony Ericsson Mobile Communications AB and Jan Wäreby, Executive Vice President of Sony Ericsson Mobile Communications AB. On August 28, both companies signed an agreement to set up Sony Ericsson Mobile Communications as an equally owned Joint venture, a company that aims to become a leading player in mobile phones and multimedia handheld communication products within several years. About Ericsson Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world. Read more at http://www.ericsson.com/press About Sony Corporation Sony Corporation is a leading manufacturer of audio, video, game, communications and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be a leading personal broadband entertainment company in the world. Sony recorded consolidated annual sales of nearly US$ 60 billion for the fiscal year ended March 31, 2001. Sony's Home Page URL: www.world.sony.com Parallel to this press release, photographs featuring the Boards are available on: www.ericsson.com/press/sonyericssonmobilecommunicationsab_boardmembers.h tml FOR FURTHER INFORMATION, PLEASE CONTACT Ericsson Åse Lindskog, Director Media Relations Phone: +46 719 97 25, +46 730 24 4872 E-mail: ase.lindskog@lme.ericsson.se Nina Eldh, Director Communications Phone: +46 8 585 32560, +46 70 515 0201 E-mail: nina.eldh@lme.ericsson.se Sony Corporation (Tokyo) Ted Kanno or Gerald Cavanagh Corporate Communications Phone: +81 3 5448 2200 E-mail: Tetsuo.Kanno@jp.sony.com E-mail: Gerald.Cavanagh@jp.sony.com Sony Europe (Berlin) Aldo Liguori or Georges Gerard Corporate Communications Phone: +49 30 2575 5159 or +49 30 2575 5155 E-mail: Aldo.Liguori@eu.sony.com E-mail: Georges.Gerard@eu.sony.com