Highlights of Esselte's 1999 Annual General Meeting

Highlights of Esselte's 1999 Annual General Meeting * Meto to be distributed to shareholders. * The proposed dividend of SEK 6.00 per share (5.50) was approved. * Board appointed. Distribution of Meto and dividend The Annual General Meeting approved the distribution of Meto to shareholders. Shareholders will receive one share in Meto's German Parent Company, Meto AG, for each Esselte A or B share held. The distribution of the shares, which is conditioned upon confirmation from the tax authorities before the end of November 1999 regarding exemption from tax in accordance with Lex Asea, will be executed by the board of directors with record date in June, or at a later date when the tax issue is confirmed. The meeting also approved a cash dividend of SEK 6.00 per share with the record date of payment being April 26. Conversion of shares The Annual General Meeting approved the board's proposal that holders of A- shares have the right to convert them to B-shares at no cost. Board The Annual General Meeting elected the following board members: Kurt Jofs, Jan Kvarnström, Björn Larsson and Sven Ohlsson were all re-elected. Fritz Fröhlich, Executive Vice President of Akzo Nobel, Arne Karlsson, President of Förvaltnings AB Ratos, and Brian E. Stern, Corporate Senior Vice President, Xerox Corporation were elected new members. Urban Jansson and Lars Berg delcined re-election. At the board meeting following the election, Jan Kvarnström was elected Chairman of the board and was appointed Chief Executive Officer (CEO). Mats Lönnqvist was appointed Chief Financial Officer (CFO) and President of the Parent Company, Esselte AB. "The somewhat unconventional solution of having Jan Kvarnström as both Chairman and CEO has been chosen to enable continuity in Esselte and to ensure the completion of the ongoing restructuring program," said Arne Karlsson, President of Ratos, Esselte's principal owner, in a statement. CEO's address at the Annual General Meeting A summary of Jan Kvarnström's speech is attached. 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) or 046-708 92 24 31 (mobile). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/21/19990421BIT00560/bit0001.DOC http://www.bit.se/bitonline/1999/04/21/19990421BIT00560/bit0002.pdf