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Holmen is investing MSEK 85 in an interest in Vattenfall's hydroelectric power assets with effect from 1 December 2005. The acquisition corresponds to a normal year's production of some 26 GWh and increases Holmen's share of the power produced by the Tuggen power station on the river Ume south of Lycksele to almost 22 %.

After the transaction, Holmen will own hydroelectric power assets equivalent to a normal year's production of 1,116 GWh.

At the same time Holmen is selling power grid assets to Vattenfall. The sale adds some MSEK 60 to the operating profit, which will be taken into Holmen Kraft's result for the fourth quarter.

Both of these transactions have been carried out by Holmen Kraft, and they represent one stage in the cooperation between Holmen and Vattenfall in the energy sector.

For further information, please contact:

Åke Eklöf, President Holmen Kraft, tel. +46 660 755 01, or +46 70 574 49 44
Alf Lindfors, Head of Vattenfall Nordic Generation, tel. +46 8 739 55 70

The Holmen Group

Holmen is a forest industry group that manufactures printing paper, paperboard and sawn timber and runs forestry and energy production operations. The company’s extensive forest holdings and its high proportion of energy production are strategically important resources for its future growth.

Holmen AB

Tel: 08-666 21 00

E-post: info@holmen.com

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