Net Asset Value Report January - March 2004

Net Asset Value Report January - March 2004

Investor's net asset value on March 31, 2004 amounted to
SEK 91,584 m. (SEK 119 per share), compared with SEK
83,063 m. (SEK 108 per share) on December 31, 2003.

The net asset value increased by SEK 8,521 m. (-4,000),
or 10 percent (-6), during the first three months of the
year. The change in net asset value includes
consolidated income after tax totaling SEK 6,636 m.
(113), corresponding to SEK 8.65 per share (0.15). The
net asset value was also affected by the dividend
payment totaling SEK -1,726 m. (0).

The value of Investor's total assets on March 31, 2004
was SEK 107,734 m. (76,189). Net debt amounted to SEK
16,150 m. on March 31 (17,420), corresponding to 15
percent of total assets (23).

The value of Investor's Core Holdings increased by SEK
9,782 m. during the first three months of the year (-
3,984). Ericsson, ABB and SEB accounted for most of the
increase: SEK 6,611 m., SEK 1,674 m. and SEK 622 m.,
respectively.

Investor sold shares in AstraZeneca for SEK 7,320 m. in
February and recorded a capital gain of SEK 6,148 m. on
the sale.

The value of New Investments increased by SEK 515 m.
during the period (-52). Investments in the first
quarter totaled SEK 490 m. (326) and shares were sold
for SEK 845 m. (474) within the New Investments
business.

The total return on Investor shares was 12 percent in
the first three months of 2004 (-6). The total return
was 69 percent during the past 12-month period (-56).

                         3/31 2004  12/31 2003   3/31 2003

 Assets, SEK m.            107 734     103 656      76 189
 Net debt, SEK m.          -16 150     -20 593     -17 420
 Net asset value, SEK m.    91 584      83 063      58 769
 Net asset value per           119         108          77
 share, SEK
                                                          
 Development during the     January-March 2004    January-
 quarter                                        March 2003
 Change in net asset                     8 521      -4 000
 value, SEK m.
 Change in net asset                        10          -6
 value, percent
 Change in net asset                        11          -5
 value per share, SEK
                                                          
 Investor has chosen to release this net asset value
 report to provide financial information to the market as
 quickly as possible. Due to current accounting
 regulations, Investor's associated companies are to be
 reported in accordance with the equity method in the
 consolidated income statement and balance sheet. As a
 consequence, Investor must wait for the interim reports
 of associated companies before it can prepare its own
 formal interim report (see "Accounting Principles" for
 further information). The formal interim report will be
 released May 28, 2004.

The net asset value report can also be accessed on the
Internet at www.investorab.com

For more information:

Lars Wedenborn, Chief Financial Officer:
+46 8 614 2141, +46 735-24 21 41
lars.wedenborn@investorab.com

Fredrik Lindgren, Vice President, Corporate Communications:
+46 8 614 2031, +46 735-24 20 31
fredrik.lindgren@investorab.com

Investor Relations Group, +46 8 614 2800
ir@investorab.com

www.investorab.com

Investor AB (publ), 556013-8298
Visiting address: Arsenalsgatan 8C
SE-103 32 Stockholm, Sweden
Phone: + 46 8 614 20 00
Fax: + 46 8 614 21 50
info@investorab.com