Fusion between Texet AB and Matching Textil AB

Fusion between Texet AB and Matching Textil AB New Wave Group AB has decided to fuse two of the subsidiaries in the Profile business area, Matching Textil AB and Texet AB. Texet AB will then distribute James Harvest, Printer, MacOne and Jingham, all brands for distribution to the Profile business area. MacOne and Jingham will by this get very good possibilities for international expansion as Texet presence distribution takes place in 17 countries. Information about the economical effects will be given in August/September. The costs are calculated to reduce with 5-7 Mkr per year. This economy effect is expected to have effect after 12 months. This economy measure is a part of the synergy which New Wave earlier showed in connection with the acquisition of Texet. For further information, please contact; Torsten Jansson CEO Tpn: 0708-99 80 50, 033-22 58 55 or Jörgen Bender CFO Tpn: 0708-99 80 55, 033-22 58 54. Borås May 31, 2000 New Wave Group AB (publ) The board ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/31/20000531BIT00150/bit0001.doc http://www.bit.se/bitonline/2000/05/31/20000531BIT00150/bit0002.pdf