Annual General Meeting

ANNUAL GENERAL MEETING AT KLIPPAN Election of board At KLIPPAN's annual general meeting, Jan Bernander, Bertil Bernadotte, Mariana Burenstam Linder, Björn Gillberg, Tommy Kullberg, Stefan Lersten and Kjell Svensson were re-elected as ordinary members of the board. Lars-Åke Helgesson was elected as new ordinary member of the board. Lars-Åke Helgesson, born 1941, is the ex CEO of STORA. He is chairman of the board of Ballingslöv International AB, Generic Systems AB, StyrelseAkademien i Sverige, Svenska Hus AB and Translink AB and deputy chairman of British-Swedish Chamber of Commerce. Helgesson is a member of the board of LKAB, Crane AB and Axel Christiernsson AB and a member of IVA/Ingenjörs- och Vetenskapsakademien. He has been a member of KLIPPAN's nomination committee since 2001. Gunnar Bergstrand was re-elected as deputy member. Olof Grundberg was elected as new deputy member. Olof Grundberg, born 1945, leaves his post as deputy MD and marketing/sales manager at KLIPPAN AB. Grundberg was previously the MD of Riaupaper in Indonesia, MD and group CEO for Trebruk and chairman of the board of Rottneros AB. Before this, Grundberg had a number of leading positions with the then MoDo group. The labour market organizations have appointed Ulf Pettersson and Tuve Svensson as ordinary members and Anders Karlsson and Johan Pettersson as deputy members. Nomination committee Jan Bernander and Göran Sundström were re-elected as members of the nomination committee. Robert Stenram was elected as new member. Robert Stenram, born 1941, London, is an advisor to the board of FöreningsSparbanken in Stockholm, chairman of the board of SNS, London and deputy chairman of Kommuninvest i Sverige AB. He is a member of the board of Sweden-Japan Foundation, Stockholm and of Anglo-Swedish Society in London. Stenram is the former manager of Swedbank in Tokyo and has held a number of leading positions both in Sweden and abroad within FöreningsSparbanken, Skandinaviska Enskilda Banken and Svenska Handelsbanken. Election of auditors The authorized public accountants Gert Frej and Berit Ehrenpohl, of Frejs Revisionsbyrå AB were re-elected as auditors for the period until the annual general meeting for 2008 has been held. The authorized public accountants Gunnar Forslund and Stefan Nevby, of Frejs Revisionsbyrå AB were re-elected as deputy auditors for the same period. MD's speech at the meeting In his speech, the MD touched particularly on the radical measures being taken to carry out the reform programme which will lead to the company's turn-around. The speech in its entirety is appended to this press release. KLIPPAN AB [REMOVED GRAPHICS] Ragnar Quarnström Managing director For further information, please contact the MD Ragnar Quarnström, tel +46 (0)435 291 01, mobile +46 (0)70 600 3221. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/07/20040507BIT00340/wkr0001.doc Hela bolagsstämman http://www.waymaker.net/bitonline/2004/05/07/20040507BIT00340/wkr0002.pdf Hela bolagsstämman