Sven Ohlsson leaves as Scancem President on October 20, 1998

Sven Ohlsson leaves as Scancem President on October 20, 1998 Sven Borelius also intends to leave Scancem's board I can fully understand that Skanska wants to avoid fines for having, without permission from the European Commission, in 1997 increased its shareholding in Scancem from 33,3 percent to 48 percent of the voting right and that Skanska wants to carry through its divestment of the Scancem shares as soon as possible. However, I consider it wrong when Skanska proposes an agreement with the European Commission which can go against the interests of other Scancem shareholders and does this above the head of the Scancem board, against the perception of Scancem's management and without utilizing the know-how of the management. I share the view expressed by Scancem's management that the solution by Skanska means an unnecessary concession which is detrimental to Scancem both strategically and from a point of view of profitability. As I see it, Skanska is in a situation of challengeability, acts unethically and rides roughshod over the smaller shareholders. Sven Borelius Former President and CEO of Euroc ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/10/13/19981013BIT00120/bit0001.doc http://www.bit.se/bitonline/1998/10/13/19981013BIT00120/bit0002.pdf