The intention is to distribute all the shares in Gunnebo Industrier free of charge to Gunnebo’s shareholders. This would enable Gunnebo to concentrate its business on security with focus on profitable growth.

<?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” />

A separate listing for Gunnebo Industrier would improve its growth potential. Both Gunnebo and Gunnebo Industrier would have a strong financial position after the flotation of Gunnebo Industrier.

The intention is to float the company and have it separately listed on the stock market. The shares in Gunnebo Industrier will be distributed free of charge to Gunnebo’s shareholders on the basis of Sweden’s Lex Asea legislation. The Board considers that the earliest date for such a flotation would be in the middle of 2005, and that a decision will be made at the 2005 AGM.

The flotation of Gunnebo Industrier would enable Gunnebo to focus its business entirely on profitably growth in its four security divisions, namely Gunnebo Physical Security, Gunnebo Integrated Security, Gunnebo Perimeter Security and Gunnebo Asia Pacific.

Gunnebo Industrier accounts for around 15 percent of the Gunnebo Group’s business. For Gunnebo Industrier, the stock market listing would provide favourable conditions for further growth in its core business areas, namely Lifting, Blocks, Non Skid and Fastening.

The streamlining would also improve Gunnebo Industrier’s ability to play an active role in the restructuring of its industry.