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Press Release


Sydsvenska Kemi’s offer for Perstorp unconditional

Press Releases

All conditions regarding Sydsvenska Kemi AB’s offer of 22 March 2001 to the shareholders in and holders of convertible debentures issued by Perstorp AB have now been fulfilled. Sydsvenska Kemi has therefore declared the offer unconditional and will complete the acquisition of Perstorp. Today, Sydsvenska Kemi also completed the previously announced acquisition of Neste Oxo from the Industri Kapital 2000 Fund.

“We are very pleased that we have succeeded in acquiring Perstorp, and can now proceed with our intention to create a world leading Nordic chemicals group,” says Harald Mix, CEO of Sydsvenska Kemi. “We look forward to developing the potential of the strong Perstorp brand and market position by combining the business with Neste Oxo. This will be an exciting challenge, where our plan is to list the new chemicals group on the stock exchange within three to five years.”

By the end of the acceptance period on June 6, shareholders representing 8,511,451 A-shares and 61,305,128 B-shares in Perstorp had accepted the offer, together equalling 97.5% of the share capital and 98.6% of the votes of all shares in Perstorp. Holders of convertible debentures representing nominally SEK 223,678,320 have accepted the offer regarding convertible debentures, equivalent to 99.6% of the previously outstanding nominal amount.

Settlement will commence on 25 June 2001, when also the listing of the debentures issued by Sydsvenska Kemi will take place at the Stockholm Exchange (Stockholmsbörsen)– SOX.

The acceptance period of the offer is extended until 5.00 pm (CET) on 4 July 2001 in order to give the remaining shareholders the possibility to accept the offer. Settlement with respect to these shareholders is expected to commence on 13 July 2001. Sydsvenska Kemi intends to initiate compulsory acquisition of the remaining shares in Perstorp within short. The timing of the de-listing of the Perstorp shares from the Stockholm Exchange and SEAQ International in London is expected to be announced after consultation with the respective market place.

Stockholm 18 June 2001
Sydsvenska Kemi AB
Board of Directors

For further information:

Harald Mix, CEO of Sydsvenska Kemi, phone: +46 8 678 95 00

Not for release in or into the United States, Canada, Australia or Japan.

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