December 22, 2005
Acquisition of Sydsvenska Kemi by PAI partners complete

100% of the Sydsvenska Kemi AB shares previously controlled by Industri Kapital have been sold to a Swedish holding company controlled by PAI partners. Settlement day for repayment of Debentures will be on January 23, 2006.

The Swedish private equity fund Industri Kapital’s sale of Sydsvenska Kemi to PAI partners which was announced on October 19, 2005 has been closed today, following receipt of necessary regulatory approvals.

100% of the Sydsvenska Kemi AB shares previously controlled by Industri Kapital have been sold to a Swedish holding company controlled by PAI partners, the French private equity firm. Following inter alia that change of control of Sydsvenska Kemi has occurred, the terms and conditions for the above mentioned loan are no longer complied with.

With reference to the Terms and Conditions for the Debentures, please be advised that the Bank Loan (as defined in the Terms and Conditions for the Subordinated Loan) provided by Svenska Handelsbanken has been fully settled and that there are no other commitments or claims outstanding under the Bank Loan. The agent/arranger, E. Öhman J:or Fondkommission AB, has today declared the loan due for payment.

Sydsvenska Kemi AB has provided security for the rightful payment of the Debentures.

Last day for trading in the Debentures will be Wednesday, January 11, 2006 and the record date for payment will be Monday January 16, 2006. Settlement day for repayment will be on January 23, 2006, at a price of 54.36% of the nominal value.

The agent/arranger will notify the noteholders accordingly.