Novare Human Capital continues to expand

Novare, a wholly owned subsidiary of Investor AB, is continuing to broaden and expand its range of services in the human resources (HR) area. Among new initiatives, Novare is starting an office in Hong Kong, with four employees, to offer executive search and HR services in China.

Fredrik Hillelson has been responsible for establishing and building Novare's operations since 2001. Effective January 1, 2006, he will start to work full-time with Novare and will therefore leave his position as Head of Human Resources at Investor. As President and CEO of Novare, Fredrik Hillelson will focus on Novare's activities and the company's continuing expansion. Novare currently consists of five companies and has 30 employees. In 2005, the company expects to report good profitability.

Discussions are under way to give Novare personnel the opportunity to become partners in the company as part of Novare's efforts to tie key personnel to the company. A broader ownership base will also facilitate the expansion of Novare's client base. However, Investor will remain the largest owner of Novare. Further information about potential changes to Novare's ownership will be provided at a later date.

"In a short time, Fredrik Hillelson has successfully established Novare in the Swedish market for HR services. Now that he will completely focus on Novare, the company will be well positioned for successful expansion of its operations going forward," comments Börje Ekholm, President and CEO of Investor AB.

"I have a burning interest in Novare, which is why I think it's just great that Investor is giving an entrepreneur like me the opportunity to focus all my time and energy on developing the company," comments Fredrik Hillelson.

For further information:
Fredrik Hillelson, CEO, Novare Human Capital AB: +46 735 20 00 62
Fredrik Lindgren, Vice President, Corporate Communications: +46 8 614 20 31, +46 735 24 20 31

About Novare Human Capital:
Novare, a subsidiary of Investor AB, is a group of companies offering services and counseling in the Human Resources (HR) area. Today, Novare offers executive search, recruitment, interim executive management, and competence development services through wholly owned or associated companies. For further information, visit www.novare.se