RNB closes office in Mölnlycke and relocates operation to Stockholm

RNB RETAIL AND BRANDS has decided to close the office in Mölnlycke and relocate operations to Stockholm. The move is scheduled to begin successively on June 1, 2007, after which new tenants will takeover as of September 1, 2007. A total of some 135 positions in Mölnlycke are affected by the move.

The move is expected to result in nonrecurring expenses of about SEK 25 M, which will be charged in the 2006/2007 fiscal year. After operations are combined in the same premises, the coordination gains between RNB and JC will amount to at least SEK 120 M annually as of the 2007/2008 fiscal year, compared with the previously announced SEK 80 M.

For further information, contact:
Mikael Solberg, President and CEO, RNB RETAIL AND BRANDS
+46 (0)8-670 95 95, +46 (0)708-18 44 40, e-mail: mikael.solberg@rnb.se

Göran Blomberg, CFO, RNB RETAIL AND BRANDS
+46 (0)8-670 95 99, +46 (0)733-97 95 99, e-mail: goran.blomberg@rnb.se