Esselte divests two non-core business units

Esselte divests two non-core business units As a further step in focussing on core businesses, Esselte has divested two small business units: * British Loose Leaf is a custom binder manufacturer with operations in Crayford and Deptford in the United Kingdom. This business was acquired by a private group of former employees. * The Esselte manufacturing plant in Urshult, Sweden, produces small metal filing cabinets and specialty binders. It was acquired by former company managers. Each of these transactions was primarily a cash for assets deal. In aggregate, sales for these units were approximately SEK 150 m. The combined financial impact resulted in a capital loss of SEK 24 m. "The two business units involved in these divestitures were in small, non-core categories. This activity is part of our ongoing strategy to focus Esselte's business", stated Anders Igel, President and CEO of Esselte. Esselte is the leading provider of office supplies world-wide. A global group with annual sales exceeding 11bn SEK, subsidiaries in 31 countries, selling office products in over 100 countries and employing over 7,000 people. Esselte brings innovation, efficiency and style to the way people work in the office and at home. Our principal brands are: Dymo; Pendaflex; Leitz and Curtis. Esselte AB is listed on the Stockholm and London stock exchanges. To learn more about Esselte, visit our website at www.esselte.com. For further information please contact: Mats Lönnqvist, CFO+44 1895 878770 or +46 705 915 563 From Sweden, alternatively 020 021 4796 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/17/20000117BIT00760/bit0001.doc http://www.bit.se/bitonline/2000/01/17/20000117BIT00760/bit0002.pdf