Pihlavan Ikkuna, which is Finland's third largest window manufacturer, mainly focuses on manufacture, sale and installation of wooden and aluminium windows as well as balcony doors for residential units. The company's products and services are mainly marketed to housing companies and private homeowners. While the Finnish market has grown by less than 5% per year, Pihlavan Ikkuna's sales, which have benefited among others things from a strong repairs, conversions and extensions market, have grown by approximately 20% per year. In 2004 Pihlavan Ikkuna's sales totalled EUR 35.5 million and pre-tax profit (EBT) amounted to EUR 6.2 million. The EBITA marginal in the same period was 18%. The company has approximately 170 employees and its head office and production are located in Ruovesi north of Tampere.

- "I have had the privilege to get to know both Pihlavan Ikkuna and Timo Vannas," says Sven-Gunnar Schough, CEO of Elitfönster. "I have been able to see that Pihlavan Ikkuna is one of the most effective window producers in the Nordic region and I am convinced that the company will fit well into the Elitfönster Group both in terms of products and strategically."

In addition to the acquisition of Pihlavan Ikkuna giving the Elitfönster Group a platform for additional expansion in the Finnish window market, there are synergy effects on the purchasing side. After the acquisition, the Elitfönster Group is expected to have approximately 1,200 employees and annual sales in excess of SEK 1.5 billion. Ratos owns 95% of the Elitfönster Group with senior management owning the remaining 5%. The acquisition is subject to approval from the Finnish Competition Authority.

For additional information, please contact:

Arne Karlsson, CEO of Ratos, +46 8 700 17 00

Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 8 700 17 49

Sven-Gunnar Schough, CEO Elitfönster, +46 383 76 34 00

Kommande informationstillfällen från Ratos:

Delårsrapport januari-mars 2005             12 maj 2005

Delårsrapport januari-juni 2005               24 augusti 2005

Delårsrapport januari-september 2005     11 november 2005