Proposal dividend and share split

Proposal dividend and share split Scandic's dividend policy is that at least 30 per cent of the company's profit after tax shall be distributed to shareholders. The Board of Directors will propose to the Annual General Meeting of shareholders that a dividend of SEK 4.50 (2.50) per share be paid to shareholders in respect of the 1998 financial year. The total dividend corresponds to approximately 46 per cent of the profit after tax. The Board also proposes a 3 for 1 share split. For further information, please contact: Roland Nilsson, President & CEO, @ +46 (0)8 517 352 00 Fredrik Sandelin, Executive Vice President & CFO, @ +46 (0)8 517 351 21 Scandic Hotels is the largest hotel operator in the Nordic region, with 124 hotels in 9 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, 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/1999/02/12/19990212BIT00610/bit0001.doc http://www.bit.se/bitonline/1999/02/12/19990212BIT00610/bit0002.pdf