Interim report January - September 2004

Lundbergs is reported from a cash flow and net asset value perspective on pages 2-5 (see accounting principles, page 3) and in accordance with the Annual Accounts Act (AAA) on pages 7-11. Since the cash flow and net asset value perspective provides a more accurate impression of Lundbergs’ development, this perspective is reported first in this interim report in terms of both the introductory bullets and other aspects of the report.

· On September 30, 2004, net asset value after deferred tax amounted to SEK 19.0 billion (SEK 306 per share), compared with SEK 18.0 billion (SEK 290 per share) at December 31, 2003. The corresponding values on November 19, 2004 were SEK 20.4 billion (SEK 329 per share). · Net sales amounted to SEK 2,603 m. (2,095). Profit after taxes amounted to SEK 1,648 m. (759), corresponding to SEK 26.57 (12.23) per share. Report in accordance with AAA · Net sales amounted to SEK 14,112 m. (14,196). Profit after taxes amounted to SEK 838 m. (770), corresponding to SEK 13.51 (12.40) per share.