The SAS Group acquires minority shares in Widerøe's Flyveselskap ASA

The SAS Group acquires minority shares in Widerøe's Flyveselskap ASA The SAS Group has following a request from Widerøe's three biggest minority shareholders, Torghatten Trafikkselskap AS, Sogn og Fjordane Fylkeskommune and Nordlandsbanken ASA, entered into to an agreement acquiring their shares in Widerøe. The shares, which are involved in the agreement, correspond to approximately 33,1% of the shares in Widerøe. The price amount to 1.100 NOK/share or in total approximately 131,2 MNOK for all acquired shares. The SAS Group today owns 63,3% of the shares in Widerøe and together with the acquired shares the SAS Group's total stake will increase to approximately 96,4%. SAS will prepare an offer to the other minority owners, representing approximately 3,6% of the shares in Widerøe, to sell their shares to SAS for the same price as agreed with the major minority holders. The offer will be submitted during May with the last signing day in June 2002. - The SAS Group is proud for Widerøe's development the last few years. We believe that this agreement will be favorable for both Widerøe's minority shareholders as well as for the SAS Group, says Gunnar Reitan, Executive Vice President & CFO in the SAS Group. For further information Gunnar Reitan, Executive Vice President & CFO, +46 8-797 1266 Benny Zakrisson, Vice President Corporate Advisory, +46 8-797 4397 About Widerøe * Widerøe was founded in 1934 and has approximately 1 200 employees. * The head office is situated in Bodø. * The SAS Group owns 63,3% of Widerøe since 1998. * The company has about 300 daily flights to 39 destinations and transports approximately 1 million passengers per year. * Widerøe has a fleet of 27 aircraft. * Widerøe's income before taxes in 2001 was 69 MNOK. * Widerøe's CFROI was 16% in 2001, the SAS Group's main financial metric. SAS GROUP INVESTOR RELATIONS ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/08/01/20030801BIT00900/wkr0001.doc http://www.waymaker.net/bitonline/2003/08/01/20030801BIT00900/wkr0002.pdf