NOTE provides financial information

NOTE is making provisions for anticipated impairment losses in the order of SEK 65-75 m, which will be charged to profits in the second quarter of this year. However, the group's operating activities are showing stable profits.

Following a review of the Group's inventories, accounts receivable and capitalised costs, we have made the assessment that we must make a provision for impairment of some of these items at the Norrtelje and Borås factories. The revaluation is due, among other things, to the fact that underlying agreements with customers are not considered sufficiently binding.

"It is difficult to have to make this provision, but it has always been my philosophy that if there is a risk of loss, it should be identified and eliminated as soon as it is discovered," says newly appointed CEO Kjell-Åke Andersson.

"I would also like to say," says Kjell-Åke, "that it feels good that this is now behind us and at the same time to be able to state that the group's current operations generate a positive cash flow and show a stable profit."

For further information, please contact:
Kjell-Åke Andersson, CEO, NOTE AB, +46 46 286 92 10 or +46 708 60 81 23
Gunilla Olsson, CFO, NOTE AB, +46 (0)176 - 799 05 or +46 (0)709 - 50 80 71
Annica Johansson, Group Controller, NOTE AB, 0176 - 799 07 or 0708 - 45 50 54

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