Subscription warrants purchased by senior executives in Bong Ljungdahl

Kristianstad, 4 July 2005

In June, senior executives in Bong Ljungdahl bought warrants granting the right to subscribe for a total of 250,000 shares in the company. As of 30 June 2005 all five members of the group executive board had purchased the maximum allotment of warrants, corresponding to 50,000 underlying shares per person. Furthermore, an additional 50,000 subscription warrants were reserved for possible future members of the group executive board.
In short, the warrant programme approved by the annual shareholder meeting of Bong Ljungdahl AB (publ) on 10 May 2005 calls for a directed issue of debt instruments in three series (A-C) containing a total of 300,000 warrants, each of which allows the holder to subscribe for 1 new share in the company. The debt instruments carry no interest. The warrants may be exercised for subscription to shares in Bong Ljungdahl AB during the periods 1 July 2007to 30 June 2008 (series A), 1 July 2008 to 30 June 2009 (series B) and 1 July 2008 to 30 June 2010 (series C). The exercise prices will be SEK 53 (series A), SEK 63 (series B) and SEK 73 (series C).

Together with previously issued convertibles, the full exercise of the incentive scheme will have a combined dilution effect of approximately 4.7%.

For additional information contact:
Mikael Ekdahl, Board Chairman, mobile +46 (0)709-777 203 (mek@msa.se)
Anders Davidsson, Managing Director and CEO, telephone +46 (0)44-20 70 00,
Mobile +46 (0)705-45 70 80

Bong is one of Europe’s leading envelope companies. The Group has an annual turnover of approximately SEK 1.8 billion, some 1,300 employees and an annual manufacturing capacity of around 15 billion envelopes at its facilities in Sweden, Denmark, Norway, Finland, Poland, Germany, Belgium, Great Britain and Ireland.
Bong has a very strong market position, particularly in Northern Europe, and has its own sales organisations in eleven European countries. The Group sees attractive opportunities for further expansion and development. Bong is a publicly listed company and its shares are quoted on the O list of the Stockholm Stock Exchange.

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