The investment in Tornet is based on the assessment that the Swedish property market will undergo major structural changes in the years ahead. Tornet's well-run and well-diversified property portfolio offers good opportunities for an active owner to participate in the anticipated restructuring.

"We primarily invest in unlisted companies. But, says Ratos CEO Arne Karlsson, the situation that has now arisen in Tornet- where we will be a principal owner of a listed company - is a type of investment that we have previously identified as feasible for us."

The acquisition of Tornet marks Ratos's 25th investment since the private equity strategy was launched almost five years ago. Overall, Ratos has invested more than SEK 8 billion within private equity during this period.

"Ratos's normal holding period is three to seven years. Achieving the values we anticipate for Tornet will involve a holding period for today's investment at the longer end of this span," says Arne Karlsson.

For further information, please contact

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

Anna-Karin Celsing, Head of Corporate Communications, Ratos, +46 8 700 17 49, +46 70 399 62 39

Financial calendar from Ratos:

Year-end Report 2003  24 February 2004

Annual General Meeting  1 April 2004

Interim Report January-March 2004  12 May 2004

Interim Report January-June 2004  25 August 2004

Interim Report January-September 2004  12 November 2004