Esselte€s Definitive Report on 1998 Operations

Esselte's Definitive Report on 1998 Operations Definitive report slightly better than the preliminary report; income per share was SEK 19.40. It is proposed that the Meto business area be distributed to shareholders. Proposed cash dividend: SEK 6.00 per share (5.50). Definitive Report on 1998 Operations Esselte's Board of Directors has adopted the audited financial statements for the 1998 fiscal year. The definitive report differs from the preliminary report as follows. The pretax capital gain on the divestment of the Nielsen & Bainbridge business area was SEK 511 m., or SEK 20 m. higher than what was reported in the preliminary report. Effective tax on the transaction was SEK 151 m., or SEK 29 m. lower than the preliminary calculation. In addition, deferred tax receivables in the amount of SEK 142 m., related to Esselte Office Products' acquisition and integration of Leitz, reduced goodwill to a corresponding extent, but had no effect on reported earnings. In other respects, a number of adjustments were made, without affecting income, to the balance sheet and statement of changes in financial position. Income per share after tax was SEK 19.40, as against SEK 18.00 in the preliminary report. Tables with summaries of the 1998 income statement, balance sheet and statement of changes in financial position, as well as key figures, are attached. Dividend The Board of Directors proposes a cash dividend of SEK 6.00 per share (5.50). The board also proposes that all shares in the Meto subsidiary be distributed to shareholders. Please see separate press release for further information about the distribution of Meto. Annual General Meeting The Annual General Meeting will be held at the World Trade Center in Stockholm at 4:00 p.m., Wednesday, April 21, 1999. The Esselte Group consists of two independent business units - Esselte Office Products and Meto - which are global market leaders in office products and labeling systems, respectively. The Parent Company, Esselte AB, focuses on creating added value by being an active owner and implementing structural measures to streamline operations. Group sales amount to approximately SEK 13.7 billion and the number of employees totals 10,500. For further information please contact Bengt Wikander, Senior Vice President, Corporate Communications, at Esselte AB. Phone +46 8 545 21 900 (switchboard), +46 8 545 21 904 (direct line) or +46 708 92 24 31 (mobile phone). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/11/19990311BIT00250/bit0001.DOC http://www.bit.se/bitonline/1999/03/11/19990311BIT00250/bit0002.pdf http://www.bit.se/bitonline/1999/03/11/19990311BIT00250/bit0003.xls Tables and Figures