Industri Kapital sells its entire holding in Oriflame

The Industri Kapital 1997 Fund has, on 15 August 2006,  sold its remaining holding of   2,523,121 Swedish Depositary Receipts (“SDRs”) in Oriflame Cosmetics S.A  to a limited number of Swedish and international institutional investors. The sale corresponds to 4,5 per cent of the total number of shares and votes in Oriflame. The SDRs were sold at the price of SEK 242 per SDR.

In October 1999, Industri Kapital, together with the founding family, took the company private from the London Stock Exchange. Since then Oriflame has carried out a significant change process which focused on continued geographic expansion and operational excellence.

Oriflame was listed on the Stockholm Exchange in March 2004 at the listing price of SEK 190 per SDR. At the time of listing, the Industri Kapital 1997 Fund retained a 16 per cent stake in Oriflame, which has subsequently been reduced since then.

“It has been exciting to work with Oriflame, its management and the other owners over this period, building a leading global direct sales cosmetics company. Oriflame has been a good investment for us and we believe the company has a solid platform for future development”, says Kim Wahl, Partner at Industri Kapital.

Industri Kapital 1997 Limited
acting as attorney or general partner to the investors in the Industri Kapital 1997 Fund
3rd Floor, Charles Bisson House,
30-32 New Street, St. Helier,
Jersey JE2 3RA Channel Islands

For further information, please contact:

Kim Wahl, Partner, Industri Kapital, + 47 23 11 46 50

This announcement is not for distribution directly or indirectly in or into the United States, Australia, Canada or Japan. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire SDRs/ordinary shares in Oriflame Cosmetics S.A. in the United States, Australia, Canada or Japan or any jurisdiction in which such an offer or solicitation is unlawful. The SDRs/ordinary shares in Oriflame Cosmetics S.A. referred to in this announcement have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of securities will be made in the United Kingdom, the United States, Sweden or elsewhere.