Proventus and Bonnier make an offer for Alma Media’s Broadcasting division

Proventus has the ambition to actively take part in the restructuring of the Nordic TV market and has therefore previously acquired shares in TV4 and Alma Media. Proventus and the media group Bonnier jointly make an offer for Alma Media’s Broadcasting division, which comprises inter alia the Finnish TV channel MTV3, a majority holding in the Finnish radio station Radio Nova and 23.4 percent of the shares in Swedish TV4 AB. Alma Media has previously convened an extraordinary shareholders’ meeting on January 31, 2005 in order to decide on the divestment of the group’s Broadcasting division. According to the proposal of the Board of Directors, which was made official today, the shareholders are recommended to accept the offer from Proventus and Bonnier. – Proventus wants to be a driving force in the development of the Nordic TV market, which faces fundamental changes. An acquisition of Alma Media’s broadcasting business gives us a strong platform to influence the future structure, says Daniel Sachs, CEO of Proventus. A Nordic ambition is necessary in order to build a high quality TV business with long term competitiveness, concludes Daniel Sachs. Proventus’ and Bonnier’s offer for Alma Medias Broadcasting division is contingent upon a positive decision of the shareholders’ meeting on January 31, 2005 and that a newly established company, connected to Alma Media, acquires Proventus’ and Bonnier’s shares in Alma Media. This newly established company will also issue a corresponding offer to the other shareholders of Alma Media with the aim to create a new listed company with focus on Alma Media’s existing business beyond the broadcasting segment. Proventus’ and Bonnier’s offer for Alma Medias Broadcasting division is also conditional upon approval of the relevant competition authorities and on the condition that the Finnish TV and radio concessions can be maintained. The offer is made by a Finnish limited liability company being established which will be owned 50 percent each by Proventus and Bonnier. Founded in 1980, Proventus is a private investment company based in Sweden with equity in excess of 300 million euro and a successful track record in transforming ailing companies including the restructuring of Kosta Boda, the formation of the Gota bank group and the turn around of the Aritmos group including Tretorn and Puma. Proventus is the principal shareholder in Swedish toy company BRIO AB and Finnish furniture company Artek. For further information please contact: Daniel Sachs, CEO Proventus, telephone +46-8-723 31 00