Wedins’ rights issue is oversubscribed

Wedins’ rights issue has attracted great interest and has been oversubscribed. As a result, FöreningsSparbanken’s issue guarantee does not have to be utilized. The oversubscription also means that those who have subscribed without preferential rights have not been allotted any shares and only a limited allotment has been made on the basis of subsidiary preferential rights. The rights issue provides the company with proceeds of approximately SEK 151 million before deducting issue expenses.

In the rights issue, 99.2 percent of the available shares were subscribed on the basis of primary preferential rights. In addition, 124.2 percent of the available shares were subscribed with subsidiary preferential rights and without preferential rights. Share allotments have been made in accordance with the principles of the rights issue decision. The rights issue increases the number of shares from 1,000,000 class A shares and 243,030,268 class B shares to 3,000,000 class A shares and 729,090,804 class B shares, corresponding to a share capital of SEK 73,209,080.40. The new shares are scheduled to begin trading on Stockholmsbörsen’s O-list from February 24, 2005. “It is very gratifying to see such great interest and confidence in Wedins’ strategy and ongoing change process,” says Roland Nilsson, President of Wedins. “The additional capital will allow us to speed up the transformation of the store structure and improve our customer offering.” Summary of preliminary timetable for the rights issue February 18, 2005 Settlement notes sent to those who subscribed on the basis of subsidiary preferential rights. February 22, 2005 Last day of trading in paid subscribed shares (“BTA”). February 23, 2005 Payment according to settlement notes for shares subscribed with subsidiary preferential rights. February 24, 2005 First day of trading in new shares. March 1, 2005 Delivery of new shares subscribed on the basis of primary preferential rights to shareholders’ accounts. Preferential right: Each outstanding share entitles its holder to subscribe for two Reverse split Wedins’ Annual General Meeting on January 18, 2005, approved a reverse share split (1:100). Further information on the reverse split is provided in a separate press release. Wedins Skor & Accessoarer AB (publ) Board of Directors For further information, please contact: Roland Nilsson, President of Wedins, telephone +46 8 508 99 200 or +46 70 580 81 85.