Press releases

Nordstjernan increases holding in Ekornes to 10.2 percent

5/23/2008

Nordstjernan AB (“Nordstjernan”) has acquired additional shares in Ekornes ASA (“Ekornes”). Following the acquisition, Nordstjernan’s combined holding in Ekornes amounts to 3,743,376 shares, corresponding to 10.2 percent of the shares and voting rights.

Ekornes is one of the three largest furniture manufacturers in the Nordic region and a world leader in the market for recliners, which are sold under the well-known Stressless brand. Ekornes also sells sofas and mattresses. During 2007, the company reported sales of NOK 2.6 billion and operating profit after depreciation/amortization (EBIT) of NOK 465 million. Ekornes is based in Ålesund, Norway. For further information, visit www.ekornes.com.

“Ekornes is Nordstjernan’s first investment in Norway. The company is one of the more successful companies in the furniture industry and has a strong brand. Just like Nordstjernan, Ekornes is a family business. We are looking forward to further developing the company together with its management, Board of Directors and the other shareholders. Last week, Nora F. Larssen, a senior Nordstjernan executive, was elected to the Board of Directors of Ekornes,” says Tomas Billing, President of Nordstjernan.



Tomas Billing
President
Nordstjernan AB

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