Interim Report January-September 2008

Important events during the third quarter

• The sale of the Scania shares to Volkswagen was finalized and total proceeds of SEK 16.8 bn. were received.
• The acquisition of Lindorff was completed, whereby SEK 3.5 bn. was invested (EUR 374 m.).
• Ownership positions were strengthened in Atlas Copco, SEB, Electrolux and Husqvarna through investments totaling SEK 601 m.
• The net cash position amounted to SEK 10.8 bn. on September 30, 2008.

Financial information

• The net asset value amounted to SEK 130,228 m. (SEK 170 per share) on September 30, 2008, compared with SEK 155,204 m. (SEK 203 per share) at year-end 2007, corresponding to a change, including dividend paid, of -14 percent for the nine-month period. Total return for the Stockholm Stock exchange (SIXRX) was -27 percent during the same period.
• The consolidated net result for the nine-month period, including change in value, was SEK -21,249 m. (SEK -27.76 per share), compared with SEK 18,864 m. (SEK 24.64 per share) for the same period of 2007.
• Core Investments had an impact of SEK -18,025 m. on income for the period (14,060). Scania had the most positive impact, SEK 3,295 m. and ABB had the largest negative impact, SEK -8,518 m.
• Operating Investments had an effect of SEK -173 m. on income for the period (-432).
• Private Equity Investments had an impact of SEK -2,416 m. on income during the period (5,560).
• The total return on Investor shares was -10 percent in the first nine months of 2008 (2), of which 0 was in the third quarter (-7). The annual total return averaged 13 percent over the past 20-year period.