Industrivärden sells its core holding PLM

PRESS RELEASE ' Industrivärden sells its core holding PLM ' Public offer to other shareholders ' Capital gain of SEK 710 M ' Increase in net asset value to SEK 167 Industrivärden has sold all 10,000,000 of its shares in PLM to the listed 1 British company Rexam PLC for a price of SEK 118 per share, or SEK 1,180 M in total. The shareholding corresponds to 23 percent of the total number of shares and votes in PLM. The price of SEK 118 entails a premium of 49 percent compared with the average price during the last 20 days of trading. Rexam is also making a public offer to PLM's other shareholders to sell their shares for the same price paid to Industrivärden. In evaluating the deal, Industrivärden has taken into account the agreed-upon price as well as the industrial motives for Rexam's expansion. The deal is beneficial to Industrivärden's shareholders and also for PLM's future development. PLM has been one of the core holdings in Industrivärden's listed portfolio. The sale now beeing carried out is part of Industrivärden's strategy in its capacity as an active owner of continuously evaluating the portfolio companies' future development opportunities and returns on alternative investments. As a result of the deal Industrivärden's net asset value will rise by SEK 2 and will thereafter amount to SEK 167 per share and CPN (the composition of net asset value and the listed portfolio are presented in an appendix, page 3). 1 Rexam PLC is a listed British company whose core business is in the area of packaging. Sales in 1997 amounted to GBP 2,045 M, and its operating profit was GBP 198 M. Clas Reuterskiöld, CEO of Industrivärden "Industrivärden has long been an active owner in PLM and in that capacity has driven a consolidation in the area of beverage packaging. The company has exhibited growth and good profitability. Today PLM is one of Europe's leading packaging companies and will be an attractive complement to Rexam's business. The deal represents a suitable occasion for Industrivärden to conclude its investment in PLM and generate a capital gain of more than SEK 700 M." Stockholm, Sweden, November 30, 1998 AB INDUSTRIVÄRDEN (publ.) For further information, please contact: Clas Reuterskiöld, President and CEO of Industrivärden, tel. +46-8-666 64 00 PRESS CONFERENCE Industrivärden will today inform media and analyst regarding the sale of its shares in PLM. A press conference will be held at 13.00 at head-quarters, Storgatan 10, Stockholm, Sweden. Appendix: Portfolio of listed stocks at 1998 November 27, Market value Number SEK per Share (%) (`000) SEK M share andof CPN portfolio value Ericss 44,660 10,712 56 33 on Handelsbanken 14,650 4,893 25 15 Sandvi 23,000 3,565 19 11 k SCA 18,382 3,272 17 10 AGA 28,615 2,976 16 9 Skansk 8,463 1,989 10 6 a Skandi 17,200 1,987 10 6 a PLM * 10,000 1,180 6 4 SSAB 12,047 891 5 3 Others 1,125 6 3 Total 32,590 170 100 Composition of net asset value at November 27, 1998 SEK SEK per billion share and CPN Listed stocks 32.6 170 * Industrial and trading 3.5 18 operations 36.1 188 Other assets and -4.2 -21 liabilities 31.9 167 Total number of shares and CPNs 191,206,984 * The shares in PLM are valued at the sales price of SEK 118 per share. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/11/30/19981130BIT00040/bit0001.doc http://www.bit.se/bitonline/1998/11/30/19981130BIT00040/bit0002.pdf