Bong implements organizational changes and appoints Vice President

With immediate effect, a number of organizational changes are implemented in the Bong organisation to create a better platform for improved productivity and profitability.

The present operative structure based on divisions is dismantled and a number of geographic profit centres will report directly to corporate.

The current "Northern Division" is divided into one Scandinavian and one Finland/Baltic unit. The current Division "Special" is dismantled and the Nybro factory completely integrated as a production unit in "Scandinavia" (Sweden, Norway and Denmark). Within profit centre Scandinavia significant cost savings are expected to be generated by rationalisations.

Division "Central" is split into three profit centres, Germany, Belgium and Poland, while UK/Ireland ("Division West") remains one unit.

In connection with the organizational changes the current Sales and Marketing Director, Anders Davidsson, is appointed Vice President with continued responsibility for Sales & Marketing and direct responsibility for the French and Dutch markets. Anders Davidsson was employed into the Bong Group in March 2002 and came then from a consultancy position within McKinsey, Sweden.

As Managing Directors for the profit centres and members of the Corporate Management Group remain/are appointed Sigurd Nilsen (Scandinavia), Kari Lähteenmäki (Finland/Balticum), Janusz Molenda (Poland), Mikael Nielsen (Germany), Yves Lantonnois (Belgium) and Sue Hale (UK/Ireland).

Kristianstad, Sweden, 2003-01-09

Lennart Pihl

CEO and MD

Bong is one of Europe’s leading envelope companies. The Group has an annual turnover of around 2.2 billion kronor, has about 1,600 employees and a manufacturing capacity of some 15 billion envelopes a year at its production units in Sweden, Denmark, Norway, Finland, Estonia, Poland, Germany, Belgium, England and Ireland. Over the past few years, Bong has carried out a number of acquisitions of companies in the envelope industry and has thus taken an active part in the current process of structural transformation in the industry in Europe. The Group sees attractive opportunities for further expansion and development. Bong is a publicly listed company and its shares are listed on the Stockholm stock exchange "O" list.

For further information, please contact Lennart Pihl, CEO and MD, telephone 044 – 20 70 50, mobile 0705 94 68 66, email lennart.pihl@bongljungdahl.se.

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