Mats Fischier to become Chairman, new CEO appointed

Mats Fischier to become Chairman, new CEO appointed The Board of Perbio Science AB ("Perbio" or the Company) decided today to elect CEO Mats Fischier to be Chairman of the Board and to appoint Leland G. Foster, the President of the Cell Culture Division and a member of the Corporate Management, as CEO to replace him. At the same date Claes Wenthzel will be appointed Vice President of Perbio Science AB. Sven Hagströmer remains on the Board. The change will take effect on November 1st 2002 and is conditional upon receipt of the required approval from the Swedish Companies Register to appoint a non EU-resident as managing director of a Swedish Company. Leland G Foster is a US citizen. The change is driven by the fact that 80% of Perbio's activities and employees are based in USA. A US-based CEO is a key component of Perbio's growth strategy, improving its ability to capitalize on the opportunities in the world's largest market for the Company's products. The promotion of Mats Fischier to Chairman will enable him to concentrate on long-term strategic issues for the Company. Perbio will retain its Swedish domicile and listing and the Group Headquarters remain in Sweden. Claes Wenthzel, Perbio's Chief Financial Officer, will be responsible for investor relations. Leland will move to Perbio's Boston facility and will establish the Operational Headquarter with a small staff to support operations. He will temporarily manage the Cell Culture Division until a new Divisional President is appointed. "The change is a logical step in the development of Perbio. Leland is well prepared for the succession and the appointment of Mats as Chairman will ensure that the Company will continue to operate in line with its well established strategies that have been so successful to date" says Sven Hagströmer, resigning Chairman of the Perbio Board. "I have had six very satisfying and interesting years with Perbio, both as a Division within Perstorp AB and as a listed company. Over this period we have established Perbio as a leading player in its industry with a strong track record of sales and profit growth as well as stock market performance. However, I am not prepared to move to the US to continue to run the Company and now is the appropriate time to hand over to Leland. He is the perfect candidate for the job and has demonstrated his qualifications through the outstanding success he has had with the Cell Culture Division, Perbio's largest division. I am looking forward to working with him in his new position and together we will continue to grow the Company and build upon our successful development in each of our markets" says Mats Fischier. "After 13 years as President of the Cell Culture Division I am very thrilled to be given the opportunity to lead Perbio as CEO. Under my leadership the Cell Culture Division has increased sales more than eight- fold from USD 7.8 million to USD 93.0 million, the number of employees from 110 to 700 and the countries in which we operate from the US alone, to now include the UK, New Zealand, China, Australia, Canada and Belgium. With this experience I will focus all my efforts to maintain the strong momentum in all of Perbio's divisions. I am looking forward to the challenge of continuing Perbio's track-record of increasing shareholder value which I take very seriously," says Perbio's new CEO Leland G. Foster. An information meeting with an opportunity to ask questions will be held today between 09.00 - 11.30 (CET) in Stockholm at World Trade Center, Klarabergsviadukten 70 (room Washington). Introduction of Leland Foster will take place at 09.30 and 10.30. Further information CEO Mats Fischier tel. +46 42 26 90 91 or +46 70 595 18 21 CFO Claes Wenthzel tel. +46 42 26 90 92 or +46 70 862 01 22 Leland G. Foster tel. +1 435 757 6432 Sven Hagströmer tel. +46 70 728 81 92 Perbio Science AB (O List) is a Swedish biotech company whose customers are found within research institutions, pharmaceutical companies and diagnostics manufacturers. The majority of the company's operations take place in the USA. Perbio Science develops products within the areas of Bioresearch, Cell Culture and Medical Devices. The group has 1,155 employees with offices in Sweden, USA and a number of other countries. The head office is in Helsingborg. More information regarding Perbio Science can be found at www.perbio.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/09/26/20020926BIT00030/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/26/20020926BIT00030/wkr0002.pdf