Administrative court of appeal issues ruling in tax cases

Investment AB Kinnevik (“Kinnevik”) announced today that the Administrative Court of Appeal has issued a ruling on a number of tax disputes against the company. Of the two main disputes, The Administrative Court of Appeal ruled in Kinnevik’s favour in one and against Kinnevik in the other. The net effect of the ruling is that the Group’s earnings in the second quarter of 2005 will be charged with SEK 116 million in tax expenses. Kinnevik won the dispute regarding the sale of Korsnäs Kraft in 1993, but lost the dispute regarding the taxation of an option in Millicom issued to Modern Times Group MTG AB. Kinnevik is considering submitting a request to the Supreme Administrative Court for leave to appeal. For further information, please visit www.kinnevik.se or contact: Vigo Carlund, President & CEO +46 (0) 8 562 000 00 Henrik Persson, Investor Relations +46 (0) 8 562 000 87