Communiqué from Industrivärden's Annual General Meeting on May 8, 2006

Industrivärden’s Annual General Meeting was held on May 8, 2006, at the Grand Hotel in Stockholm, at which the following decisions, among others, were made: - The Annual General Meeting approved the dividend of SEK 7.00 per share. The record date for payment of the dividend was set at May 11, and dividend payments are expected to be made by VPC on May 16. - Boel Flodgren, Tom Hedelius, Finn Johnsson, Fredrik Lundberg, Sverker Martin-Löf, Lennart Nilsson and Anders Nyrén were reelected as directors on Industrivärden's board. Lars O Grönstedt was elected as a new director. Arne Mårtensson declined reelection. Lars O Grönstedt, born 1954, is Chairman of Svenska Handelsbanken. He is also a director of the Swedish Bankers' Association and the Stockholm Chamber of Commerce. Tom Hedelius was reelected as Chairman of the Board. - The Annual General Meeting resolved to reelect Öhrlings PricewaterhouseCoopers AB as the Company's auditors for a term extending through the 2010 AGM. - The Annual General Meeting resolved to assign the Chairman of the Board to contact the four largest registered shareholders in terms of votes in VPC's printout of the shareholder register on August 31, 2006, who each appoint one representative who is not a director on the Company's board, to form together with the Chairman of the Board a nominating committee for the time until a new nominating committee has been appointed based on the mandate from the next year's Annual General Meeting. The Nominating Committee appoints a person to chair the Committee from among its members. The composition of the Nominating Committee shall be announced not later than six months before the 2007 Annual General Meeting. No fee is payable for work on the Nominating Committee. If a shareholder who is represented on the Nominating Committee is no longer one of the four largest shareholders in terms of votes, that shareholder's representative shall resign from the Committee if ordered by a majority of the members of the Nominating Committee, and the shareholder who has become one of the four largest shareholders in terms of votes shall instead have the right to appoint a representative. If a shareholder's representative leaves his or her position with the shareholder, the shareholder has the right to appoint a new nominating committee representative. Changes in the composition of the Nominating Committee shall be publicly announced immediately. Decision at the statutory board meeting. - At the statutory board meeting, Sverker Martin-Löf was named Vice Chairman of the Board. AB Industrivärden (publ) Box 5403, SE-114 84 Stockholm, Sweden Phone +46-8-666 64 00, Fax +46-8-661 46 28 Internet: www.industrivarden.net E-mail: info@industrivarden.se