Year End Report for New Wave Group AB (publ) JANUARY – DECEMBER 2009

The period 1 October – 31 December 2009 – Sales amounted to MSEK 1,082, which was 12 % lower than the previous year (MSEK 1,227). – Result after tax improved by MSEK 58.9 and amounted to MSEK 61.3 (2.4). – Result per share amounted to SEK 0.90 (-0.01). – Cash flow from operating activities improved by MSEK 376 to MSEK 430 (54). – Equity ratio amounted to 41.0 (34.1) %. – Net debt to equity ratio amounted to 96.3 (140.5) %. The period 1 January – 31 December 2009 – Sales amounted to MSEK 4,087, which was 11 % lower than the previous year (MSEK 4,604). – Result after tax amounted to MSEK 87.8 (147.9). – Result per share amounted to SEK 1.29 (2.18). – Restructuring costs have affected the result after tax by MSEK 56.4. – Cash flow from operating activities improved by MSEK 1,074 to MSEK 806 (-268). DIVIDEND The Board of Directors has decided to suggest to the annual shareholders meeting a dividend of SEK 0.25 (0.18) per share totalling MSEK 16.6. VIEWS ON 2010 The market has stabilized and we see indications that the U.S. market is slowly recovering, but the uncertainty is still high. For 2010 we expect an increase in profit and a slightly higher turnover than the 2009 outcome. CEO Comments 2009 has come to an end – one of the toughest and most difficult years so far, both for New Wave, our staff and myself as CEO – where we particularly had a week market for promo. To start at the end – the fourth quarter – I am relatively pleased with the result, even if we are going to perform considerably better in the future. As for stock reduction and cash flow, I am really proud of what we have accomplished. As I have always said, we can redirect our cash flow considerably if we end up in a tight situation, which we now have proven with great force. The fourth quarter, work wise, was the first “normal” quarter in a long time. Now we can focus our time on the right things again i.e. running the company towards development. Looking at the full year I am of course really disappointed in the fact that our income decreased, but 2009 was an especially difficult year. However, I am very pleased with our cash flow, stock reduction and the fact that we are entering a new year with a stronger balance sheet. I am very optimistic for the future. Not because I believe there will be a major turnaround in the global financial situation or a better market, but because we have a business concept that stands up, fantastic employees, fantastic brands and once again a stronger balance sheet! Very soon we can focus on growth again!! My co-workers and I look forward to that day!!! Torsten Jansson Comments The outcome was as anticipated an improvement compared to previous months, but slightly weaker than our expectations. However, we can now say that we see signs that the market is stabilizing and indications that the U.S. market is recovering. Out of all our brands it is Craft, Projob, Orrefors, Kosta Boda and Sagaform that are best withstanding a decrease in sales during the recession. If we look at the development in our two sales channels, promo is still showing low activity while retail is showing signs of growth. The gross profit margin is affected by the recession but is still in line with previous year. The cost-cutting measures taken have had effect and we see a reduction in costs that will have a positive effect on this quarter’s result. Our efforts to reduce capital and improve cash flow during the quarter have had a positive outcome. We reduced our stock by MSEK 224 to MSEK 1,625. Cash flow amounted to MSEK 430 which was a clear improvement over last year’s MSEK 54. Thanks to the improved cash flow we have reduced our net debt by MSEK 431 to MSEK 1,741 and our net debt to equity ratio to 96.3 (140.5) %. OCTOBER – DECEMBER Sales Sales amounted to MSEK 1,082 (1,227), which was 12 % lower than previous year. Exchange rates had a negative effect on sales by MSEK 8. Sales decreased by 13 % in the Promo Business Area and by 13 % in Sports & Leisure, while Gifts & Home Interior had a slightly lower decrease by 5 %. The promo market has continuously been weak in most markets, but primarily in Southern Europe. Sports & Leisure is somewhat fragmented with Craft continuing to increase their sales and Cutter & Buck decreasing due to the continued weak American market. However, Cutter & Buck sales improved somewhat during the later part of the last quarter and the company observed stability and a slight market improvement. The Gifts & Home Interior decrease is attributable to lower sales on the export market. Turnover decreased by 5 % in the Nordic countries. The largest market, Sweden, decreased by 2 %. The mid Europe turnover was 8 % lower than last year and the decrease is by and large the same in all countries. Southern Europe decreased by 19 % and it is mainly due to the weak Italian market. The North American turnover decreased by 26 %, of which about 10 % is negative currency effect. Gross profit The gross profit margin amounted to 46.2 (46.0) %. Other income and other costs Other income increased by MSEK 1.2 to MSEK 21.9 (20.7). The income includes capital gain of MSEK 13.9 in connection with sales of glass collections, archives and real estate. During the period the Group has received an additional MSEK 6.0 in insurance compensation in connection with last year’s fire. Other operating income is primarily attributable to operating exchange gain and should be set against the result row “Other expenses” in which, primarily, the operation’s currency exchange losses are reported. Costs and depreciations The cost saving actions initiated during the year has produced good results. External costs decreased by MSEK 62.9 and amounted to MSEK -234.8 (-297.7) and personnel costs amounted to MSEK -170.9, which is MSEK 27.1 less than previous year (MSEK -198.0). The action plan is now completed. Exchange rates have positively affected costs by MSEK 5. Depreciations amounted to MSEK -16.0 (-18.5). The operating margin amounted to 8.9 (5.0) %. The improvement is mainly due to lowered costs. Finance net and taxes Net financial items amounted to MSEK -6.5 (-28.4). The decrease is attributable to lower interest rate levels and lower debt. It is the Group’s policy to have a short interest rate guarantee resulting in quick effects on the Group’s net interest as the short term interest changes. Tax expenses in absolute numbers amounted to MSEK 28.8 (30.8) and the tax rate to 32.0 %. The period has been negatively affected by MSEK 6 due to a change in deferred taxes. Result Result after tax improved by MSEK 58.9 to MSEK 61.3 (2.4) and the result per share amounted to SEK 0.90 (-0.01). SUMMARY 2009 The general financial situation has had a profound influence on Group sales during the year, primarily affecting the promo sales channel negatively. The downward trend from the end of the previous year continued until the third quarter. Thereafter, we have slowly detected a slight recovery, but still from low levels. Promo sales have been negatively affected in almost all countries. Retail sales have fared better and the sales channel has a lower sales decrease. The weak American market has mainly affected retail, while sales in the Nordic countries and Europe have fared better. Out of the Group’s brands, Craft has had a strong sales development during the year. Also Sagaform and ProJob have braved the recession well during the year. As the market declined during last year’s fourth quarter, savings plans were drawn up for the Group’s subsidiaries. Major restructuring work was carried out in Orrefors Kosta Boda, which affected the first quarter’s result negatively by MSEK 70.1. In addition to general cost savings measures, Cutter & Buck have also restructured their division for direct sales to customers and incurred a cost of MSEK 7.1 in consequence of this action. Remaining companies have also implemented cost savings measures and in total the Group has decreased its number of employees by 359, of which 258 worked in production. Excluding currency and restructuring costs, the Group has decreased costs by about MSEK 300 during the year. The planned actions have now been completed and the positive effects of these cost savings measures are mainly seen during the last half of the year. An explicit goal and priority during the year has been to reduce debt by improving the capital tied up and therefore also cash flow. The Group’s subsidiaries have taken measures to implement these objectives during the year. The measures taken were made early on, but did not have an effect until the end of the calendar year. This is mainly due to the current situation with comparatively long lead times that the Group has with regard to the purchase of goods. The result of this work has been successful and the Group has during the calendar year decreased net debt by MSEK 836 and over a fifteen-month period by MSEK 1,049. The debt equity ratio has decreased to 96.3 (140.5) %. The improved cash flow and reduced net debt equity ratio has improved solidity by 6.9 percent units to 41.0 (34.1) %. JANUARY – DECEMBER Sales Sales amounted to MSEK 4,087 (4,604) during the period, which was 11 % lower than previous year. Exchange rates had a positive effect on sales by MSEK 270. Sales decreased in all business areas, Promo 15 %, Sports & Leisure 8 %, and Gifts & Home Interior 5 %. The promo market has been weak in almost all markets. Sports & Leisure has had a fragmented development with Craft doing well and gaining market shares, while remaining brands have experienced a decrease which is mainly attributable to the current financial situation. The decrease within Gifts & Home Interior is mainly due to lower Orrefors Kosta Boda export sales. Sagaform had a somewhat better development than the business area as a whole. Turnover decreased by 13 % in the Nordic countries, mainly in Sweden and Finland. Sales were somewhat better in mid Europe with a decrease of 7 %, where mainly Germany and Great Britain had a better development than the region as a whole. Sales decreased by 11 % in Southern Europe, which is mainly related to a weak promo market in all countries. Sales decreased by 14 % in North America, which is attributable to a weak American market. Positive currency effect occurred mainly in Euro countries and the U.S. Gross profit The gross profit margin amounted to 46.5 (48.5) %. The decrease is related to the weakened economy, mainly within the promo sales channel and in particular on the American market. Gross profit was also affected by restructuring costs imposed in Orrefors Kosta Boda, which affected the profit during the first quarter by MSEK 25. Other income and other costs Other income increased by MSEK 12.4 to MSEK 68.9 (56.5). The increase is attributable to the sale of Orrefors Kosta Boda art glass collections, archives and properties, which has given a total capital gain of MSEK 33.6. The Group has also received an insurance reimbursement of MSEK 6.0 in connection with last year’s fire. Remaining other income is mainly related to the operation’s currency gains and should be set against the result row “Other expenses” in which, primarily, the operation’s currency exchange losses are reported. Other costs increased by MSEK 7.2 to MSEK -27.6 (-20.4). The result of these two items represents a net profit of MSEK 1.7. Costs and depreciations During the year the Group has implemented some cost savings actions in the subsidiaries which decreased external costs by MSEK 156.5 and amounted to MSEK -949.1 (1,105,6). Restructuring costs of MSEK 7.1 was charged to external costs in connection with changes in Cutter & Buck’s division for direct sales to end customers. During the year the Group has decreased the number of employees by 359, of which a majority worked in production at Orrefors Kosta Boda. The effect of the Orrefors Kosta Boda restructure, which resulted in a staff decrease of 154 employees, was reported during the first quarter. This means that the company made a provision for restructuring in the form of a one-time cost for a total of MSEK 70.1 in the financial statements for the first quarter of 2009. Of these, MSEK 45.1 is reported as personnel costs and MSEK 25.0 as gross profit as they are attributable to deteriorating production performance. Personnel costs have increased by MSEK 20.5 to MSEK -751.5 (-731.0), of which MSEK 45.1 are related to aforementioned restructuring. Reducing the number of employees has mainly had a positive effect on the result during the second half of the year because of the dismissal times varying lengths. The exchange rates have affected costs negatively by MSEK 115. Excluding restructuring costs and currency fluctuations, costs have decreased by about MSEK 300 during the year. Depreciation amounted to MSEK -70.6 (-64.2). Operating margin was 4.2 (8.0) %. The decrease is due to restructuring costs and lower volumes. Finance net and taxes Net financial items amounted to MSEK -46.2 (-136.0). The decrease is attributable to lower interest rate levels and debt decrease by MSEK 836 during the year. It is the Group’s policy to have a short interest rate guarantee resulting in quick effects on the Group’s net interest as the short term interest changes. The tax rate amounted to 30.4 (36.5) %. Result Result after tax amounted to MSEK 87.8 (147.9) and the result per share amounted to SEK 1.29 (2.18). During the first quarter the result has been affected by restructuring costs of a total of MSEK 77.2 before tax. At a tax rate of 26.9 % for concerned companies, the net impact of the restructuring costs is MSEK -56.4. REPORTING OF BUSINESS AREAS New Wave Group divides its activities into three business areas; Promo, Sports & Leisure and Gifts & Home Interior. Each brand has been grouped into the business area it is considered to belong to (see appendix for breakdown of brands per business area). The Group monitors the business area and brand sales and profit (EBITDA). The business segments are based on the Group’s operational management. Promo During the period October-December sales decreased by 13 % to MSEK 533 (614) and the result (EBITDA) decreased by MSEK 22.7 to 60.9 (83.6). The decrease is caused by the general financial situation and has affected all markets. For the period January-December sales decreased by 15 % to MSEK 1,876 (2,216) and the result (EBITDA) decreased by MSEK 148.4 to MSEK 168.5 (316.9). Turnover and result were lower in the Nordic countries, particularly in Sweden and Finland. The results for Europe also indicated a decrease, but have been compensated by a positive currency effect. The decrease is due to the general financial situation. Sports & Leisure Sales for the period October-December decreased by 13 % to MSEK 344 (395) and the result (EBITDA) increased by MSEK 29.4 to MSEK 31.9 (2.5). Craft sales are still increasing compared to last year, mainly in the retail sales channel. The weak American market has had a negative effect on Cutter & Buck sales. However, the market has recovered somewhat during the quarter. The profit increase is related to improved gross margins, mainly on the American market. Sales for the period January-December decreased by 8 % and amounted to MSEK 1,574 (1,714). The result (EBITDA) decreased by MSEK 38.2 to MSEK 122.1 (160.3). Turnover and sales for Craft have had a continued positive trend. Cutter & Buck was negatively affected by the weak American market. Cutter & Buck U.S. was also affected by restructuring costs of MSEK 7.1 due to changes in the division for direct sales to end customers. The result decrease is mainly related to lower sales. Gifts & Home Interior Sales decreased by 5 % to MSEK 206 (217) during the period October-December and the result (EBITDA) increased by MSEK 25.8 to MSEK 19.8 (-6.0). The sales decrease is mainly related to the Orrefors Kosta Boda export market. Sagaform sales are at the same level as last year, but the result is better due to cost savings. The period result includes capital gain of MSEK 13.9 in connection with sales of glass collections, archives and real estate, and a MSEK 6 insurance compensation related to last year’s fire. Sales decreased by 5 % to MSEK 637 (674) during the period January-December and the result (EBITDA) decreased by MSEK 3.4 to MSEK -47.6 (-44.2). The sales decrease is mainly related to the Orrefors Kosta Boda export market and the result decrease to the company’s restructuring costs of MSEK 70.1 which were accounted for during the first quarter. Sagaform sales are at the same level as last year, while the result is somewhat better. GEOGRAPHICAL ALLOCATION A table showing sales in the regions Nordic Countries, Mid Europe, South Europe, North America and Other Regions is displayed on page 15. Sales in the Nordic region decreased by 5 % during October-December. Sweden developed better and decreased by 2 %, while Finland had a weaker development. All Mid European countries were affected negatively, except Great Britain where sales increased. South Europe had a weak development and decreased by 19 %. Sales in the area are mainly promo sales and a decrease has occurred on all markets. Sales in North America decreased by 26 %. The exchange rate development had a negative effect and sales in local currency in the region dropped by 16 %. Sales on other markets decreased by 9 %, mainly in Russia and China. Sales in the Nordic region decreased by 13 % January-December, which is mainly attributable to Sweden and Finland. The Mid European promo market has been weak during the year and most of the countries in the region have been affected negatively. The exception is Great Britain where sales increased. Sales in Southern Europe decreased by 11 %. The decrease is mainly related to a weak promo market in all countries. North America decreased its sales by 14 %. The exchange rate development had a positive effect and sales in local currency in the region decreased by 26 %. Sales in other markets were somewhat lower than last year. CAPITAL TIED UP During the year the Group has prioritized reducing its working capital. The work has mainly focused on the stock situation, but also to improve other operating credits. The goal was to reach a stock level of about MSEK 1,750 which was achieved by a good margin. The measures taken at the beginning of the year has produced good results and capital tied-up in goods has dropped dramatically during the period. Total stock level amounted to MSEK 1,624 (2,200). 2009 2008 Raw materials 65.4 80.3 Work in progress 31.0 40.1 Goods in transit 55.1 79.1 Goods for resale in warehouse 1 473.3 2 000.8 Total 1 624.8 2 200.3 Efforts to reduce capital tied up in stock have also led to many obsolete articles being sold, which means that the amount of obsolescence has decreased. Obsolescence as of December 31, 2009 amounted to MSEK 74 (109) and is about 5 % (about 5 %) of the stock value. The stock turnover rate January–December was 1.1 (1.2). The decline is due to the fact that the efforts were not effective until the end of the year. The stock turnover for the last quarter shows a clear improvement. Accounts receivable decreased by MSEK 101 to MSEK 735 (836). Overall, efforts to reduce capital tied up in stock gave a very good result and the work will continue into next year. The efforts will still be focused on logistics and product lines. INTANGIBLE ASSETS AND IMPAIRMENT TESTING The breakdown of intangible assets between segments has been based on the circumstances as of acquisition date for each company/brand and assigned to the business area it is considered to belong to. New Wave Group monitors cash-generating units at segment level. Goodwill is based on local currency and in the consolidated financial statements give rise to currency conversion effects. The value of goodwill is tested annually to ensure that the value does not deviate negatively from book value, but can be tested more often if there are indications that the value has decreased. Impairment of the business areas containing goodwill and brands is based on calculating the value in use. This value is based on cash flow projections over the next five years and a terminal session. Business area cash flows are affected by commercial factors, including market growth, competitiveness, cost trends, levels of investment and working capital. When discounted, assessment of financial factors such as interest rates, borrowing costs, market risk, beta values and tax rates is added. Assumptions made in the trial are the Board’s best assessments at the time, of the economic conditions expected to prevail over its useful life. 2009 was a difficult year which led to the recovery shifting by approximately 1 year compared with our assessment at the previous turn of the year. Even though market conditions have stabilized and the economic situation looks somewhat brighter, a forecast for future periods is difficult to estimate. The first five years 2010-2014 are based upon the Board’s established internal forecasts for the next period and an average growth rate of 3 % has been used for the terminal period. Within the forecast period (2010-2014) the first two years (2010-2011) are expected to have a weaker development and then a gradual improvement during the remaining years. Sensitivity analyses have been made across all business lines. In calculating the present value of expected future cash flows a weighted average cost of capital (WACC) of 12 % before tax is used. Discounted cash flows are compared with book value per cash flow generating unit/business. The 2009 review showed that there is no impairment. Below are some brief comments for each business area. Promo Business Area The calculation includes the business area cash flow based on internal forecasts. It includes an increase in sales which is slightly higher than inflation and the capital tied up during the end of the internal projection period (2010-2014) is expected to return to the levels of 2003-2004. Margins are expected to be about the same level as previous years. Sports & Leisure Business Area The calculation includes the business area cash flow based on internal forecasts. Regarding Cutter & Buck, which is very important to the business area, actions have been taken to contribute to the profitability improvements. The effects of these measures are included in the estimated margin and earnings improvements forecasted. The measures also include that sales and capital tied up in stock are expected to return to 2002-2004 levels. Gifts & Home Interior Business Area The calculation includes the business area cash flow based on internal forecasts. Regarding Orrefors Kosta Boda, which is very important to the business area, measures to improve efficiency and profitability have been taken during 2009. The effects of these measures are included in the estimated margin and earnings improvements forecasted, including a much improved stock situation. The measurements include that sales and the capital tied up in stock at the end of the forecast period are expected to return to 2005 levels. INVESTMENTS, FINANCING AND LIQUIDITY Consolidated cash flow from operations improved during the period October-December by MSEK 376 and amounted to MSEK 430 (54). The improvement is primarily a result of lower stock levels and decreased operating receivables. The Group’s cash-effecting net investments amounted to MSEK 18 (-6), where the disposal of tangible fixed assets had a positive effect by MSEK 21. Consolidated cash flow from operations improved during January-December by MSEK 1,074 and amounted to MSEK 806 (-268). The improvement is mainly related to efforts to reduce inventory levels. The Group’s cash net investments were MSEK -23 (-65), where the sale of tangible fixed assets included MSEK 41. Net debt fell during October-December by MSEK 431 and amounted to MSEK 1,741. The corresponding period last year had a decrease by MSEK 164 to MSEK 2,576. Net debt fell during January-December by MSEK 836 and amounted to MEK 1,741. Currency changes have reduced the debt by MSEK 70 since year-end. Corresponding period last year had an increase by MSEK 219. Net debt relative to equity decreased to 96.3 (140.5) %. The equity ratio improved by 6.9 percent units and amounted to 41.0 (34.1) %, which is a result of reduced net debt. The Group had MSEK 2,875 in credit lines as of December 31, 2009 and the credit agreement extends through April 2011. The interest rate is based on the respective base rate of the currency and fixed margin. The Group’s policy is to have a short duration, which means that changes in the short interest is quickly reflected in the Group’s net interest income. New Wave Group’s financing agreement includes a commitment (covenant) on the equity ratio and the total credit limits of MSEK 2,875 as of December 31, 2009 to be gradually depreciated down to MSEK 2,475 as of 30 April, 2011. PERSONNEL AND ORGANIZATION In connection with the cost savings measures taken in the Group, the number of employees was decreased by 359, and by December 31, 2009 amounted to 2,203 (2,562), of which 48 % were women and 52 % were men. Out of the total number of employees, 553 (811) work in production. The production contained within the New Wave Group is attributable to Orrefors Kosta Boda, Seger, Dahetra, Toppoint and Cutter & Buck (embroidery). SUBSCRIPTION OPTIONS IN NEW WAVE GROUP AB (PUBL.) New Wave Group has four outstanding subscription option programs. A new program for senior executives was introduced in June 2009. The program runs until June 2012 and the exercise price is SEK 26.10. The option subscription premium was SEK 0.21 per option. Two option programs were launched in July 2008, one for senior executives and one for the Board of Directors. The senior executives program consists of 1,800,000 options and expires in June 2011. The exercise price is SEK 64.05. The option subscription premium was SEK 1.11 per option. The Board of Directors program consists of 200,000 options and expires in June 2013. The exercise price is SEK 85.40. The option subscription premium was SEK 0.88 per option. The previous program was launched in July 2007 and consists of 1,653,250 options and expires in June 2010. The exercise price is SEK 102.50. The option subscription premium was SEK 7 per option. 2,000,000 options were originally issued, of which 346,750 have later been cancelled. Acquired premiums for all programs above have been based on market value. RELATED-PARTY TRANSACTION There are lease agreement contracts with associated companies. The parent company has purchased consulting services from a Board Member. The CEO has rented a property for private use. All transactions have occurred in accordance with market conditions. VIEWS ON 2010 The market has stabilized and we see indications that the American market is slowly recovering, but uncertainty remains high. For 2010 we expect an increase in profit and a slightly higher turnover than the 2009 outcome. THE PARENT COMPANY Sales amounted to MSEK 139 (133). Result after financial items amounted to MSEK 209.0 (274.6). Net borrowing amounted to MSEK 1,687 (2,536), of which MSEK 1,407 (2,054) refer to financing of subsidiaries. Net investments amounted to MSEK 329 (-124). Total assets amounted to MSEK 3,505 (4,213) and equity to MSEK 1,230 (1,070). RISKS AND RISK CONTROL Having international operations, New Wave Group is continuously exposed to different kinds of financial risks. These risks are currency, borrowings and interest rate risks, as well as liquidity and credit risks. In order to minimize the affect these risks may have on the result, the Group has drawn up a financial policy. For a more detailed description of how the Group handles risks, please refer to the Annual Report 2008; www.nwg.se. It is the Group’s policy to a have short interest rate guarantee resulting in quick effects on the Group’s net interest as the short-term interest changes. The Group’s accounted exposures are in all material aspects unchanged. The current market conditions and financial crisis have however created an uncertainty, which means that the financial risks on the market have increased. ACCOUNTING PRINCICPLES This report has been prepared according to IAS 34 Interim Report and the Annual Report Law. Report regarding Total result has been prepared according to IAS 1 ® and is applied for the first time September 30, 2009. The comparative year have been recalculated. The interim report for the parent company has been prepared according to Annual Report Law as well as the Swedish Financial Accounting Standards Council’s standards RFR 2:2 – Accounting for legal entity. Applied accounting principles are in accordance with the Annual Report for 2008. ANNUAL SHARHOLDERS MEETING The annual shareholders meeting will take place on the 18th May 13.00 at Kosta Boda Art hotel in Kosta. The annual report is expected to be available 4th May at the head office in Gothenburg. DIVIDEND The aim is to distribute 30 % of the Group’s net profit over a business cucle. The Board has decided to propose to the annual shareholders meeting a dividend of SEK 0.25 (0.18) per share, which is equal to MSEK 16.6. The proposal corresponds to 19 % of net profit. CALENDAR • April 22, 2010 Interim Report for Q1 • May 18, 2010 Annual Shareholders Meeting 2010 • August 12, 2010 Interim Report for Q2 • November 12, 2010 Interim Report for Q3 The Board and the CEO assure that the Interim Report gives a true and fair view of the company and the Group’s operations, position and result and describes the material risks and uncertainties that the company and the Group face. Gothenburg February 11, 2010 New Wave Group AB (publ.) Anders Dahlvig Kinna Bellander Göran Härstedt (Chairman of the Board) (Member of the Board) (Member of the Board) Helle Kruse Nielsen Mats Årjes Torsten Jansson (Member of the Board) (Member of the Board) (CEO) FOR MORE INFORMATION, PLEASE CONTACT: CEO Torsten Jansson Phone: +46 (0)31 712 89 01 E-mail: torsten.jansson@nwg.se CFO Lars Jönsson Phone: +46 (0)31 712 89 12 E-mail: lars.jonsson@nwg.se The information in this report is that which New Wave Group is required to disclose under the Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. It was released for publication at 7 am (CET) on February 11, 2010.