Extraordinary meeting elects new board members

NOTE AB (publ.), one of Sweden’s leading contract manufacturers, held an extraordinary general meeting yesterday, March 15, 2004. The meeting elected new board members in accordance with the proposal of the principal owners, and also adopted other proposals put before it regarding changes in the company’s articles of association, etc.

The newly elected board members are Börje Andersson, Chairman of the Board at Human Care AB and former CEO at Hexagon, and Katarina Mellström, Vice President, Service Business Area Advise, Ericsson Radio Systems AB. Kjell-Åke Andersson and Mats Hultin had previously announced their intentions to step down from the board of directors in conjunction with the extraordinary general meeting. The extraordinary general meeting also adopted proposed changes in the articles of association, including changes to make it possible to hold general meetings in Norrtälje or Stockholm, and to lower the par value of the company’s share from 10 kronor to 50 öre via a 20:1 stock split. This will increase the number of NOTE AB shares from 399,000 to 7,980,000. The number of shares after the split will total 8,460,000 once the outstanding stock options have been fully exercised. If you have any questions concerning this press release, please contact: Sten Dybeck, NOTE Chairman of the Board; telephone 0708-55 18 00