Scandic Hotels appoints new Executive Vice President and CFO

Scandic Hotels appoints new Executive Vice President and CFO Fredrik Sandelin has assumed his responsibilities as the new Executive Vice President and CFO of Scandic Hotels AB. Fredrik Sandelin succeeds Kerstin Lindberg Göransson, who is leaving Scandic to take up a similar position in the newly-formed company, Telia IT-Service AB. Fredrik Sandelin formerly held the position of Finance Director of Förvaltnings AB Ratos, and in that capacity was also a member of Scandic's Board of Directors. As such Fredrik Sandelin has had a valuable insight into Scandic and the company's business operations, managerial concept and strategies. "Following Kerstin Lindberg Göransson's decision to move on, I am very pleased to report that Fredrik Sandelin has agreed to replace her in our organization," says Roland Nilsson, President & CEO of Scandic. "Fredrik has a sound knowledge of Scandic, and his considerable competence in the field of financial matters will be a valuable asset in the company's current growth phase. Meanwhile, I would like to thank Kerstin Lindberg Göransson for a highly successful co-operation and for all her professional achievements at Scandic during the company's recent developments, and naturally, to wish her every success in what is clearly an exciting new sector." For further information, please contact: Roland Nilsson, @ +46 (0)8 610 52 00 Fredrik Sandelin, @ +46 (0)8 610 51 21 Kerstin Lindberg Göransson, @ +46 (0)8 610 51 04. Scandic Hotels AB is the largest hotel company in the Nordic region, with 122 hotels in 9 countries. Scandic's strategy is to be a dedicated hotel operator. The company's 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 Tel: +46 (0)8 610 50 00, Fax: +46 (0)8 610 52 80 E-mail: info@scandic-hotels.com, Internet: www.scandic-hotels.com Org. no.: 556299-1009