New Wave Group AB (publ) sells its shares in the Russian subsidiary CJSC «New Wave Group»

Wave Group has sold its shares (representing 51% of the capital and votes) in the Russian subsidiary CJSC «New Wave Group" ("NW Russia ") to the minority shareholders in the company. In connection herewith, New Wave Group has also made a capital injection to NW Russia through depreciation of loans. The transfer and depreciation of loans are not expected to have any impact on the group’s earnings during Q4-2009, because the losses have been taken and the reservations been made continuously. In connection with the transfer, a distribution agreement has been signed with NW Russia, which gives NW Russia the exclusive rights to sell promo wear under the trademarks New Wave, Clique, and Texas Bull in Russia until the end of 2014, subject to certain minimum purchase volumes are met. Gothenburg 22 December 2009 New Wave Group AB (publ) Torsten Jansson CEO For more information, please contact: Torsten Jansson, CEO, tel: +46 (0)31 712 89 01, E-mail: torsten.jansson@nwg.se Lars Jönsson, CFO, tel: +46 (0)31 712 89 12, E-mail: lars.jonsson@nwg.se