AGM of Scandic Hotels AB held earlier today, 26 April 1999

AGM of Scandic Hotels AB held earlier today, 26 April 1999 Board of Directors At today's Annual General Meeting of shareholders, it was decided to re-elect the following board members: Urban Jansson, Ulf Bergenudd, Monica Caneman, Göran Carstedt, Svend Holst-Nielsen and Ilkka Suominen, and to re-elect Hans Karlsson and Stefan Älgne as auditors and Owe Eurenius and Roland Nilsson as deputy auditors. Arne Karlsson, President of Förvaltnings AB Ratos (publ) was elected as a new board member. The board also includes Roland Nilsson, President & CEO of Scandic Hotels AB, and Mildred Forsberg, employee representative. Former board member Fredrik Sandelin has taken up the position of Executive Vice President and CFO of Scandic Hotels AB and accordingly, did not apply for re-election. Dividend and split The Annual General Meeting of shareholders approved the board's proposal that a dividend of SEK 4.50, corresponding to 46 per cent of the Group's profits after tax, be paid to shareholders. The record day was set as 29 April 1999. It is estimated that the payment of dividends will be made through the Swedish Securities Register Centre (VPC) on 6 May 1999. The Annual General Meeting of shareholders also decided to approve a 3 for 1 share split. This means that the par value will be changed from SEK 6 per share to SEK 2 per share with three new shares replacing one old share. It is estimated that the share split will take effect on 3 May 1999. Scandic Hotels AB is the largest hotel operator in the Nordic region, with 126 hotels in 10 countries. Scandic's strategy is to be a dedicated hotel operator. Its business mission is "to offer many people the highest value for money when staying in its hotels, during work and leisure". For further information, please contact: Roland Nilsson, President & CEO, @ +46 (0)8 517 352 00 Fredrik Sandelin, Executive Vice President and CFO, @ +46 (0)8 517 351 21 Gunnar Brandberg, Vice President, Marketing & Investor Relations, @+46 (0)8 517 352 12 or +46 (0)70 728 84 50 [REMOVED GRAPHICS] Scandic Hotels AB (publ) Box 6197, SE-102 33 Stockholm, Sweden. Tel: +46 (0)8 517 350 00, Fax: +46 (0)8 517 352 80 E-mail: info@scandic-hotels.com, Internet: www.scandic-hotels.com Org. no.: 556299-1009 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/26/19990426BIT00380/bit0001.doc http://www.bit.se/bitonline/1999/04/26/19990426BIT00380/bit0002.pdf