Dividend of SEK 40 per share

At Holmen's Annual General Meeting held on Tuesday, the company's shareholders resolved in favour of paying a dividend of SEK 40 per share (SEK 10 ordinary dividend and SEK 30 extra dividend).

Lilian Fossum, Ulf Lundahl and Magnus Hall were elected to the Board. Fredrik Lundberg, Carl Kempe, Hans Larsson, Göran Lundin, Arne Mårtensson and Bengt Pettersson were re-elected.

At the statutory meeting of the Board, Fredrik Lundberg was re-elected chairman and Carl Kempe deputy chairman.

Lilian Fossum has an M.A. (Econ.) and is human resources director at AB Electrolux. Ulf Lundahl has an M.A. (Econ.) and is executive vice president of L E Lundberg-företagen. Magnus Hall has an MSc. (Industrial Engineering) and takes up the position as Holmen's President and CEO on 1 April 2004.

The Meeting decided to authorise the Board to make decisions during the period until the next Annual General Meeting to buy the company's shares on the stock exchange. Up to ten per cent of the total number of shares in the company may be acquired. The Board was also mandated to make decisions to use shares bought back as payment for acquisition or to finance such an acquisition.

The AGM voted in favour of setting up a nominations committee, to which Fredrik Lundberg, Carl Kempe and Arne Mårtensson were elected.

KPMG Bohlins AB was re-elected auditor for the period 2004-2007 by the AGM.

The address to shareholders by Göran Lundin, President and CEO, is available on Holmen's website www.holmen.com