Interim Report, Januay 1-September 30, 2003

Interim Report January 1 - September 30, 2003 * Industrivärden's net asset value was SEK 29,117 M on October 29, an increase of SEK 4,702 M since the start of the year. Net asset value on September 30 was SEK 26,956 M (22,265). * Net asset value per share was SEK 151 at October 29, an increase of SEK 25 per share since the start of the year. Including reinvested dividend the increase was SEK 31 per share. Net asset value per share at September 30 was SEK 140 per share (115)*. Average annual growth in net asset value over the last ten-year period, including reinvested dividends, was 11%. * The total return for Industrivärden's stock from January 1 through October 29 was 32%, or two percentage points higher than the Total Return Index. During the last ten-year period the average annual total return was three percentage points higher than the Total Return Index. For further information, please contact: Anders Nyrén, President and CEO, +46-8-666 64 00 Carl-Olof By, Executive Vice President and CFO, +46-8-666 64 00 Sverker Sivall, IR, +46-8-666 64 19 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/10/31/20031031BIT00110/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/10/31/20031031BIT00110/wkr0002.pdf The full report