YEAR-END REPORT 2004

FULL YEAR

- Net sales amounted to 4,543 MSEK (4,308). - Net earnings amounted to 167 MSEK (172). - Earnings per share amounted to 6.84 SEK (7.04). - Order intake increased by 7 percent and currency adjusted by 10 percent. - All regions and product areas reported increased order intake and sales. - The Board of Directors proposes a dividend increase of 0.50 SEK to 4.00 SEK. (Removed graphics) FOURTH QUARTER - Net sales increased by 21 percent for the quarter. - EBIT rose by 24 percent. - Product area MCS’s sales increased by 24 percent and the operating margin was 9.5 percent. - Extensive production changes within HumiCool. (Removed graphics) For further information, please contact: Lennart Evrell, Chief Executive Officer, Telephone +46 8 626 63 03, lennart.evrell@munters.se Bernt Ingman, Chief Financial Officer, Telephone +46 8 626 63 06, bernt.ingman@munters.se