Changes in the management of New Wave Group's subsidiary in Spain because of economical irregularities

Changes in the management of New Wave Group's subsidiary in Spain because of economical irregularities New Wave Group AB's subsidiary in Spain, Onesto New Wave S.A., has dismissed its managing director, Karin Garriga Hedenquist, because of economical irregularities. There is a risk that the irregularities will influence the result of the company negatively by 2,5 - 5 million SEK. This risk assessment is only preliminary, since the investigation is not yet finished. Until a new managing director of the company has been recruited, Mario Bianchi, managing director of New Wave Group's Italian subsidiary, will be the temporary managing director of the company. Borås, 18 May 2001 New Wave Group AB (publ) Contacts: Torsten Jansson CEO Phone: +46 708 998050, +46 33 225855 Göran Härstedt Deputy CEO Phone: +46 708 998017, +46 33 225863 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/18/20010518BIT00510/bit0001.doc http://www.bit.se/bitonline/2001/05/18/20010518BIT00510/bit0001.pdf