Proposed distribution of profits

The Annual General Meeting has at its disposal profits totalling SEK 48,141,265,644.

The proposed distribution is equivalent to a dividend of SEK 52.39 per share. The dividend is scheduled for payment on 4 May 2008.

Statement by the Board of Directors pursuant to the
Swedish Companies Act, Chapter 18, Section 4:

Based on the company’s and Group’s strong financial position, favourable earnings and strong cash position, the Board of Directors is of the opinion that the proposed distribution of profits will not lead to any material limitation of the company’s or Group’s ability to make any necessary investments or to meet their obligations in the short and long term. Nor does the proposed dividend have any material impact on the company’s key ratios.

In view of the above, the Board finds the proposed distribution of profits, totalling SEK 6,900,000,000, to be carefully considered and justified. Further, the Board finds that proposed distribution of profits adheres to the principles of the adopted dividend policy (see Financial targets and performance).

The Board of Directors and President’s affirmation
upon signing the Annual Accounts for 2008

The undersigned certify that the consolidated accounts and the Annual Report have been prepared in accordance with International Financial Reporting Standards (IFRS), as adopted for use in the European Union, and generally accepted accounting principles respectively, and give a true and fair view of the financial positions and results of the Group and the company, and that the Administration Report of the Group and the company give a fair review of the development of the operations, financial positions and results of the Group and the company and describe substantial risks and uncertainties that the Group companies face.

Stockholm, 17 March 2009

Lars Westerberg – Chairman of the Board

Viktoria Aastrup – Director

Carl-Gustaf Angelin – Director

Eli Arnstad – Director

Johnny Bernhardsson – Director

Christer Bådholm – Director

Ronny Ekwall – Director

Lone Fønss Schrøder – Director

Hans-Olov Olsson – Vice Chairman of the Board

Tuija Soanjärvi – Director

Anders Sundström – Director

Lars G. Josefsson – President and Chief Executive Officer