Interim Report January – March 2004

• Sales were 3,002 MSEK (3,006)
• In local currencies, sales were up 5%
• Operating income excluding gain from settlement with UST and certain one time costs amounted to 535 MSEK (516)
• Net profit for the period amounted to 1,091 MSEK (337), including gain from settlement with UST
• EPS increased to 3.32 SEK (0.99), of which settlement with UST accounts for 2.50 SEK

For further information, please contact:

Sven Hindrikes, Acting President and Chief Executive Officer
Office +46 8 658 02 82, Mobile +46 70 567 41 76

Lars Dahlgren, Acting Chief Financial Officer
Office +46 8 658 04 41, Mobile +46 70 958 04 41

Bo Aulin, Senior Vice President, Secretary and General Counsel
Office +46 8 658 03 64, Mobile +46 70 558 03 64

Emmett Harrison, Vice President, Investor Relations
Office +46 8 658 01 73, Mobile +46 70 938 01 73

Lin McKinnie, Vice President, Investor Relations (US)
Office +1 804 302 1912, Mobile +1 804 868 8127