Scandic Hotels have signed an agreement concerning a new hotel in Holland

Scandic Hotels have signed an agreement concerning a new hotel in Holland Scandic Hotels AB have signed a management agreement concerning the operation of a new hotel in IJmuiden, Holland. The hotel, which is estimated to be finished by the turn of the year 1999/2000, will be operated by Scandic under the Holiday Inn brand. IJmuiden is situated approx. 25 km from Amsterdam and 20 km from Schiphol airport in an area of heavy expansion both in industry, commerce and tourist trade. The hotel, which will have 146 rooms, conference and banqueting facilities for up to 1000 participants, has a very attractive location close to the water with a view over the North Sea. Scandic will operate the hotel on behalf of the property owner, based on a management agreement, and will not, thus, be involved in any investment in the operations. For further information, please contact: Roland Nilsson, President & CEO, @ +46 (0)8 517 352 00 Leif T Carlsson, President, Scandic Hotels Europe AB, @ +46 (0)8 517 352 03 Gunnar Brandberg, Vice President, Marketing & Investor Relations, @ +46 (0)8 517 352 12 or +46 (0)70 728 84 50. 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 www.scandic-hotels.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/19/19990219BIT00350/bit0001.doc http://www.bit.se/bitonline/1999/02/19/19990219BIT00350/bit0002.pdf