Options programme for senior executives within Scandic Hotels.

Options programme for senior executives within Scandic Hotels. Scandic Hotels' board of directors have, today, decided to introduce an options programme for 14 senior executives in Scandic Hotels. The offer comprises 637.500 options and has been subscribed for in its entirety. The options are a cash settlement and will, thus, be charged to Scandic Hotels' profit. The options have a two-year duration and a redemption price of SEK 115:50, which corresponds to 123% of today's share price quotation. For further information, please contact: Arne Karlsson, Chairman Scandic Hotels, +46-8-700 17 00 Fredrik Sandelin, Executive Vice President & CFO Scandic Hotels, +46-8-51735121 Scandic Hotels AB is the leading hotel operator in the Nordic region, with 136 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". Scandic Hotels AB (publ) Box 6197, S-102 33 Stockholm, Sweden. Tel: +46 8 517 350 00, Fax: +46 8 517 352 80 E-mail:info@scandic-hotels.com, Homepage: www.scandic-hotels.com Company no.: 556299-1009 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/08/20000608BIT01060/bit0001.doc http://www.bit.se/bitonline/2000/06/08/20000608BIT01060/bit0002.pdf