RNB RETAIL AND BRANDS expands its distribution platform and takes over large parts of the ladieswear and menswear departments at Steen & Ström in Oslo

Steen & Ström is Oslo’s leading fashion department store that is currently undergoing the same process of modernization and transformation as NK did in the early 1990s. Ahead of the relaunch in October 2005, Portwear Retail, a business area of RNB RETAIL AND BRANDS, is taking over large parts of the ladieswear and menswear departments.

“We have successfully worked through Portwear Retail’s concept and launched the partner model in Sweden,” says Roger Kylberg, Portwear Retail AB’s President. “The Portwear Retail partner model allows us to take this huge step and show that our way of working is a platform that is not attached to any specific store or geographical location.” The total area involved is approximately 2,100 m2, split between fifteen different departments with a store and brand structure similar to that of NK in Stockholm. “Our establishment at Steen & Ström entails major opportunities for us and our suppliers,” continues Roger Kylberg. ”At the same time, it serves as proof of our business model’s strength and an indicator for Portwear Retail’s future expansion.” Portwear Retail AB will occupy the premises in the summer of 2005. The ladieswear department will open in August and the menswear department in September 2005. The official inauguration of the “new” Steen & Ström will take place in October 2005. For more information, please contact: Mikael Solberg, President and CEO, RNB RETAIL AND BRANDS Tel: +46 8-670 95 95, +46 708-18 44 40, e-mail: mikael.solberg@rnb.se Roger Kylberg, President, Portwear Retail AB Tel: +46 8-670 95 90, +46 733-97 95 00, e-mail: roger.kylberg@rnb.se