Annual General Meeting of Intrum Justitia AB

Annual General Meeting of Intrum Justitia AB Intrum Justitia AB's Annual General Meeting was held on May 5, 2004 in Stockholm with around 60 people in attendance. "The year 2003 was naturally distinguished in large part by what happened with our English subsidiary," said Intrum Justitia President and CEO Jan Roxendal in his address. "In many respects, it was a year of change, but I am convinced that the measures we have taken make Intrum Justitia a better, stronger and more open company." Jan Roxendal's address is available on the company's website, www.intrum.com Dividend The Annual General Meeting approved the Board of Directors' proposal not to pay a dividend to the shareholders for the year 2003. Election of Board of Directors The Annual General Meeting elected the Board of Directors in accordance with the Nomination Committee's proposal. As a result, Intrum Justitia AB's Board of Directors consists of Björn Fröling (reelected), Gerard De Geer (new), Reinhold Geijer (reelected), Bo Göransson (reelected), Bo Ingemarson (reelected), Maria Lilja (reelected), Dennis Punches (reelected), Jim Richards (new) and Christian Salamon (reelected), all for the period ending at the conclusion of the next Annual General Meeting. Jim Richards, age 51, is President and CEO of Attention, LLC, a subsidiary of West Corporation (Nasdaq: WSTC). Attention, LLC is an Accounts Receivable Management company founded by Richards. Richards is a member of the Executive Committee of West Corporation and a Committee member of Healthcare Services Program of ACA International. He attended Temple University in Philadephia, Pennsylvania, USA. Gerard De Geer, age 54, has been Director of Operations & Business Control at Industri Kapital since 2001. De Geer is also Chairman of Citylink AB and Board Member of Nobia AB, Consolis Oy Ab, Lindex AB, Elektrokoppar Holding AB, MacGREGOR International AB and Continental Bakeries BV. He was Vice President at A.T. Kearney in Stockholm for eight years and has spent 12 years in general management positions at companies such as Ovako, SKF Steel, Lesjöfors and Cameron Iron Works, Texas, USA. De Geer holds an MBA from Harvard Business School and a MSc in Economics and Business Administration from the Stockholm School of Economics. Directly following the Annual General Meeting, the Board of Directors held its statutory meeting during which Bo Ingemarson was elected Chairman and Björn Fröling was elected as the new Deputy Chairman. Compensation for Board of Directors The Annual General Meeting approved the Nomination Committee's proposal to pay the Board of Directors a fee of SEK 1,650,000, to be divided among the Directors in accordance with the Board's determination, in addition to SEK 225,000 to be used for committee work over and above normal board work. Election of Auditors The Annual General Meeting decided in accordance with the Nomination Committee's proposal to dismiss the current auditor, the accounting firm Öhrlings PricewaterhouseCoopers, and instead elect the accounting firm KPMG Bohlins AB as auditor of the company, with authorized public accountant Carl Lindgren proposed as chief auditor, until the conclusion of the Annual General Meeting in 2008. Nomination Committee The Annual General Meeting decided: that the Chairman of the Board shall convene the five largest shareholders of the company at the end of the third quarter of the year. The five largest shareholders then have the right to each appoint one member of the Nomination Committee. The Nomination Committee shall have the right to decide that the Chairman of the Board shall be part of the Committee. If any of the five largest shareholders declines its right to appoint a member of the Committee, the shareholder next in size shall be given the opportunity to appoint a member of the Committee. If several of the shareholders decline their right to appoint members of the Committee, no more than the eight largest shareholders need to be contacted. The Committee should be chaired by a representative of one of the shareholders. The Chairman of the Board shall, as part of the Committee's work, present to the Committee any matters regarding the Board of Directors' work, the need for special competence, etc., which may be of importance to the Nomination Committee's work. Individual shareholders shall have the opportunity to present proposals on members of the Board to the Nomination Committee for further evaluation; that information regarding the composition of the Nomination Committee shall be made public in the company's interim report for the third quarter; and that the Nomination Committee shall have the right to charge the company for the cost of recruitment consultants if it is deemed necessary in order to obtain an adequate selection of candidates for the Board of Directors. Proposal to reduce the company's share premium reserve The Annual General Meeting also decided to approve the Board of Directors' proposal to reduce the company's share premium reserve by SEK 500,000,000.00 to SEK 872,824,805.00. An amount corresponding to the reduction will be transferred to a reserve to be used in accordance with the decision of future Annual General Meetings. The decision is conditional on the approval of the reduction by the district court. For further information, please contact: Anders Antonsson, Director of Communications Tel: +46 (0)8 546 102 06, mobile: +46 (0)70 336 7818 E-mail: a.antonsson@se.intrum.com Intrum Justitia is Europe's leading credit management services group. The group has revenues of SEK 2.9 billion and has about 2,900 employees in 21 European countries. Intrum Justitia's objective is to be a leading provider of CMS in Europe through excellence in local client care, ledger administration and debt collection and by measurably improving clients' cash flow and long-term profitability. The group offers efficient high quality management of commercial and consumer receivables in all phases in the CMS process. Intrum Justitia has a growth strategy and aims to take active part in consolidating its industry. Intrum Justitia is listed on Stockholmsbörsen, the Stockholm Exchange, ticker IJ. For more information, please visit www.intrum.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/06/20040505BIT21450/wkr0002.pdf PDF-version