eng

Disclosure of substantial shareholding

5/17/2004 6:40 PM

Industriförvaltnings AB Kinnevik ("Kinnevik) with subsidiaries, today announced that it has sold 600,000 B-shares in AcandoFrontec AB (pub) (org nr 556272-5092). Subsequently, Kinnevik with subsidiaries owns 5.335.580 B-shares in AcandoFrontec AB, which represents 9.6 per cent economic interest and 6.7 per cent voting interest. Kinnevik's fully diluted holding, including all outstanding option schemes, is 8.9 per cent economic interest and 6.4 per cent voting interest.

For further information, please visit www.kinnevik.se or contact:

Vigo Carlund, CEO, Industriförvaltnings AB Kinnevik
tel: +46 8 5620 0000

Henrik Persson, Investor & Press Relations
tel: +44 77 47 822 406

Industriförvaltnings AB Kinnevik was established in 1936 as an investment holding company. The Company's objective is to increase shareholder value, primarily through net asset value growth. The business consists of operating companies such as farming company MSLA and cartonboard and paper producer Korsnäs AB, and a portfolio of long-term investments in a select number of listed companies such as Tele2 AB, Modern Times Group MTG AB, Millicom International Cellular S.A., Metro International S.A., Transcom WorldWide S.A. and Invik & Co. AB. Kinnevik plays an active role on the Boards of its subsidiaries and associated companies.

Kinnevik's A' and B' shares are traded on the Stockholmsbörsen A-list'.