Industrivärden sells lock system manufacturer Timelox to ASSA ABLOY

Industrivärden sells lock system manufacturer Timelox to ASSA ABLOY Industrivärden today sold all the shares in the wholly owned subsidiary Time- lox to the Swedish lock group ASSA ABLOY. Timelox manufactures and markets electronic lock systems, including smart cards, for access control and is a leading supplier of hotel lock systems. The company is a spinoff from Industrivärden's subsidiary Besam, the world's larg- est supplier of door automation. For 1999 Timelox has estimated sales of SEK 80 M with 45 employees. The deal creates new opportunities for Timelox to further develop as a stand- alone company within the ASSA ABLOY Group, a global supplier of lock and secu- rity products. Stockholm, Sweden, November 8, 1999 AB INDUSTRIVÄRDEN (publ.) For further information, please contact: Carl-Olof By, Executive Vice President and CFO, Industrivärden, tel. +46-8-666 64 00 Göran Jansson, President and CEO, ASSA ABLOY, tel. +46-8-506 485 00 Jan Wabreus, President, Timelox, tel. +46-418-512 31 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/08/19991108BIT00210/bit0001.doc http://www.bit.se/bitonline/1999/11/08/19991108BIT00210/bit0002.pdf