Interim Report January-June 2008

Important events during the second quarter

• 3 Scandinavia (Sweden and Denmark combined) reached EBITDA breakeven on a monthly basis in June.
• An agreement was entered to invest in Lindorff, a leading debt collection company in the Nordic region. Ownership, fully diluted, will be about 57 percent. Investor's total investment, in equity and debt-related instruments, will be approximately EUR 360 m.
• Additional shares were purchased in SEB and Electrolux for SEK 125 m. and SEK 44 m., respectively.
• The sale of the Scania shares is expected to be finalized during the third quarter.

Financial information

• The net asset value amounted to SEK 138,885 m. (SEK 182 per share) on June 30, 2008, compared with SEK 155,204 m. (SEK 203 per share) at year-end 2007, corresponding to a change, including dividend paid, of -8 percent in the first half of 2008.
• The consolidated net result for the first half of the year, including change in value, was SEK -12,450 m. (SEK -16.26 per share), compared with SEK 26,690 m. (SEK 34.84 per share) for the same period of 2007.
• Core Investments had an impact of SEK -10,595 m. on income for the period (20,148). Scania had the most positive impact with SEK 3,202 m. and SEB had the largest negative impact with SEK -6,514 m.
• Operating Investments had an effect of SEK -7 m. on income for the period (101).
• The total return on Investor shares was -10 percent in the first half of the year (9), of which -2 was in the second quarter (7). The annual total return has averaged 13 percent over the past 20-year period.