Year-End Report 2008

Highlights during the fourth quarter
The ownership position in Atlas Copco was strengthened through investments totaling SEK 505 m.
On December 31, 2008 the net cash position amounted to SEK 9.4 bn. and the average maturity of the debt portfolio was 12.6 years.
The Board of Directors propose a dividend to shareholders of SEK 4.00 per share (4.75).

Financial information
The net asset value amounted to SEK 115,340 m. (SEK 150 per share) on December 31, 2008, compared to SEK 155,204 m. (SEK 203 per share) at year-end 2007, corresponding to a change, including dividends paid, of -23 percent for the year. Total return for the Stockholm Stock Exchange (SIXRX) was -39 percent in 2008.
The consolidated net result for 2008, including change in value, was SEK -36,736 m. (SEK -47.99 per share), compared with SEK -367 m. (SEK -0.48 per share) for 2007.
Core Investments had an impact of SEK -31,546 m. on income in 2008 (-4,535). Scania had the most positive impact, SEK 3,311 m. and SEB had the largest negative impact, SEK -13,863 m.
Operating Investments had an impact of SEK -710 m. on income in 2008 (-879).
Private Equity Investments had an impact of SEK -3,463 m. on income in 2008 (5,953).
The total return on the Investor share was -18 percent in 2008 (-10), of which -8 was in the fourth quarter (-11). The annual total return has averaged 12 percent over the past 20-year period.