Recommendation from the Board of Directors of Cloetta Fazer AB intended to be announced 23 March 2005

The Board of Directors of Cloetta Fazer intends to announce its recommendation to the shareholders and holders of warrants in Cloetta Fazer AB concerning the public offer from Oy Karl Fazer Ab on 23 March, 2005. Stockholm 15 March, 2005 Cloetta Fazer AB Board of Directors