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2000-09-28

Perstorp Intressenter AB’s offer for Perstorp will not be completed

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  • Perstorp’s flooring businesses’ earnings considerably weaker than expected
  • Perstorp Intressenter AB’s offer for Perstorp will not be completed
  • The parties’ intention is to review the possibilities for a new offer

Perstorp’s flooring businesses’ earnings considerably weaker
As a result of difficulties within Perstorp’s laminate flooring businesses, Perstorp AB is expected to show lower earnings than expected. The uncertainty regarding the future development in earnings in these businesses has increased The chemicals business continues to develop in line with expectations.

Perstorp Intressenter AB’s offer for Perstorp will not be completed
The negative development within Perstorp’s laminate flooring businesses means that the basis on which Perstorp Intressenter AB’s offer to the shareholders and holders of convertible debentures in Perstorp was made has been significantly changed. The offer will therefore not be completed, as all the conditions for the offer can not be fulfilled.

The parties’ intention is to review the possibilities for a new offer
Perstorp, together with Industri Kapital, intends to seek constructive solutions in respect of a potential new offer given the revised outlook. The parties’ intention is to present the outcome of such discussions as soon as possible.

“Perstorp’s Board is committed to discussing with Industri Kapital the possibility for an alternative offer that would, in an appropriate way, consider the interests of Perstorp’s shareholders as well as Industri Kapital,” says Urban Jansson, Chairman of the Board of Perstorp AB.

“The material change in the conditions for Perstorp is unfortunate. We will now, together with Perstorp, carefully consider alternatives for finding a satisfactory solution,” says Harald Mix, Deputy CEO of Industri Kapital.

As a result of the current situation, Perstorp has requested a suspension in the trading of Perstorp shares until the beginning of next week.

Perstorp, 28 September 2000
Perstorp AB Board of Directors Stockholm, 28 September 2000
Perstorp Intressenter AB
Board of Directors

Not to be distributed in or into the United States, Canada, Australia or Japan

For further information, please contact:

Urban Jansson, Chairman of the Board Perstorp AB, +46 435 38 606

Åke Fredriksson, CEO Perstorp AB, +46 435 38 545

Harald Mix, Deputy CEO Industri Kapital, +46 8 678 95 00

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