Industrivärden introduces employee stock option program

Industrivärden introduces employee stock option program The Board of Directors of AB Industrivärden today decided to grant stock options to 22 employees of the Parent Company. The option program aims to encourage the employees' participation and involvement in the company by linking part of their compensation to the company's long-term value growth. The program also aims to attract talented employees. The option program will make up a part of the total compensation package offered to the employees and has been drawn up by Industrivärden's compensation committee and approved by the Board of Directors. A total of 187,000 stock options have been granted to the employees, including 30,000 to the CEO. New employees may be granted a maximum of 20,000 options per employee. The total number of options outstanding will not exceed 260,000. The options have a term until 28 February 2007, and each option entitles its holder to buy one Class A share of Industrivärden stock from a third party at the exercise price of SEK 177 or, alternatively, to receive cash payment of the difference between the exercise price and the market price on the exercise date. The exercise price corresponds to 115% of the average price of Industrivärden Class A shares during the period January 21 - February 1, 2002. The closing price of Industrivärden's Class A shares on February 14, 2002, was SEK 153. As a rule, the options may only be exercised if the employee remains employed by the company, and cannot be transferred to a third party. The options do not constitute securities and have been granted to the employees free of charge. Industrivärden intends to hedge its commitment against a price rise by entering into a swap agreement. The annual cost of the swap agreement is estimated to be SEK 0.6 M. Stockholm, Sweden, February 15, 2002 AB INDUSTRIVÄRDEN (publ) For further information, please contact: Anders Nyrén, President and CEO, Industrivärden, tel. +46-8-666 64 00 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/15/20020215BIT00870/bit0001.doc http://www.waymaker.net/bitonline/2002/02/15/20020215BIT00870/bit0001.pdf