OPCON APPOINTS NEW CEO AND INTENSIFIES THE DEVELOPMENT OF ENVIRONMENTALLY FRIENDLY POWER FOR THE CAR INDUSTRY

Mr. Rolf Hasselström has been appointed CEO of Opcon from Jan. 1, 2005. He replaces Mr. Sven G. Oskarsson who retires as CEO after ten years. Presently Mr. Hasselström is responsible for the business area Mechanics with the companies Svenska Rotor Maskiner, Lysholm Technologies, Autorotor and Laminova as well as Opcon Inc. The former CEO Mr. Sven G. Oskarsson will remain on the Board of Directors. Mr. Svein Valheim has been appointed Vice President as from December 1, 2004. He is responsible for the business area Electromechanics where production of ignition systems and electromechanical devices are. During the first quarter 2005 Opcon starts production of ignition systems for combustion engines in China. The reason is to increase the competitiveness by reducing the production costs and to establish business on the Asian market. The Opcon company develops modern technique in the field of ignition systems for engines, air systems for fuel cells engines, electromagnetic devices, superchargers for combustion engines, industrial air and cooling systems, intercoolers and oil coolers. Opcon’s products and systems contribute to increasing the energy efficiency and radically decreasing the environmental impact within the car industry as well as the manufacturing industry. Opcon is market leader of air systems for fuel cell engines to the car industry . Opcon takes part in several projects together with the world’s leading car producers for development of the new intelligent fuel cell technique of the future which means that the carbon dioxide from cars totally can be reduced. For further information please contact the Chairman of the Board, Mr Hans Golteus, phone: +46 8 505 65 210.