On December 1st 1999 a press release was sent out in which it was informed that Mrs. Kirsten Idebøen was considered for the CEO position of PanSOL, which was to be established on January 1st 2000. According to plans, PanSOL was to be established as the holding company for the national operations in Sweden, Norway, Denmark and Finland January 1st 2000. This reorganisation has not yet been executed.
SOL AB has decided not to hire Mrs. Idebøen as managing director of SOL AB and CEO for PanSOL when the new structure is established at a later date.
During this period the owners Schibsted, Telia and Telenor will engage themselves more closely in the process of establishing the PanSOL group and the preparations for the IPO of the company. The work will be led by the Chairman of the Board of SOL AB, Mr. Sverre Munck.
Oslo, March 2nd 2000
Mette D. Storvestre
Investor Relations Manager