Interim Report January-September 2006

Important events in the third quarter

• Investor's net asset value increased by SEK 9 bn. during the third quarter.
• LogicaCMG (U.K.) made a public offer to acquire the total shares outstanding in WM-data. Investor accepted the offer. On October 10, LogicaCMG declared the offer unconditional.
• MAN (Germany) made a public bid for the total shares outstanding in Scania. The offer was rejected by Investor.

Financial information

• The net asset value amounted to SEK 149,176 m. (SEK 195 per share) on September 30, 2006, as against SEK 134,180 m. (SEK 175 per share) at year-end 2005.
• Consolidated net income (including unrealized changes in value) totaled SEK 17,909 m. (SEK 23.34 per share) in the period, compared with SEK 31,561 m. in the corresponding period of 2005 (SEK 41.12 per share).
• Core Investments had an impact of SEK 19,662 m. on net income in the period (28,292). SEB, AstraZeneca and Scania had the greatest impact with SEK 4,767 m., SEK 4,056 m. and SEK 3,999 m., respectively. Ericsson had an impact of SEK -1,186 m.
• Private Equity Investments had an effect of SEK -256 m. on net income in the first nine months of 2006 (4,432).