SAS Group prepares for IPO of Rezidor SAS Hospitality

SAS Group today announces its intention to prepare for a listing of its hotels business, Rezidor SAS Hospitality ("Rezidor SAS"), through an initial public offering (the "IPO") on the Stockholm Stock Exchange. The listing of Rezidor's shares is expected to take place within the next twelve months, subject to market conditions. While Rezidor SAS has continued to perform well, SAS Group's intention to list the company is in line with its previously stated strategy to focus on its core airline activities. The listing will allow the SAS Group to exit from its hotel business, continuing the process initiated last year when Carlson Hotels Worldwide acquired a 25% stake from the SAS Group. Carlson Hotels Worldwide has declared its interest to remain a significant shareholder. The IPO would provide Rezidor SAS with increased flexibility and favourably position the company for the next phase in its development. Rezidor SAS is one of the fastest growing hospitality companies in the world and currently has 279 hotels, encompassing over 56,000 rooms, in operation and under development in 50 countries. UBS Investment Bank has been appointed as global co-ordinator. For further information Hans Ollongren, SVP Corporate Communication & Public Affairs, +46 70 997 1950 Sture Stølen, VP Head of Investor Relations, +46 70 997 1451 --------------------------------------------