Interim Report on the Operations of AB Custos for the Period January 1 - March 31, 2002 (with link)


STOCKHOLM, Sweden, April 19, 2002 (PRIMEZONE) -- Custon:


 -- Total return on Custos shares for the report period was
    16.8 percent.

 -- 98.7 percent degree of acceptance in Custos' redemption program.

Total Return

Total return on Custos shares for the report period was 16.8 percent.

Return, January 1, 2002 - March 31, 2002


                                      %
 Total return on Custos shares(1)  16.8

 Cost of shareholders' equity(2)    1.7
 SIX Portfolio Return Index        -1.4
 SIX Return Index                  -2.7

 1 Return taking into account share price appreciation and, where
   appropriate, dividend paid and share redemption.
 2 Measured as the average 12-month Swedish Treasury bill rate plus
   a risk premium of 3 percent during the three-month period.

Net Asset Value

Total net asset value on March 31, 2002 was MSEK 1,788 (Dec. 31, 2001: 3,046), which was equivalent to SEK 218 (Dec. 31, 2001: 224) per share. Value per share is based on 8,210,600 Custos shares.

Net asset value on March 31, 2002 is calculated on the assumption that the 5,362,742 Custos shares registered for redemption in Custos' offer have been redeemed (see "Redemption of Custos shares with payment in cash" below). The same applies to the synthetically repurchased shares (as provided by a mandate from the Annual General Meeting on April 5, 2001).

On March 31, 2002, Custos' discount to net asset value was 11 percent. This was higher than at year-end 2001, when the discount amounted to 10 percent.


                                              Jan. 1, 2002-
 Change in net asset value, MSEK              Mar. 31, 2002
 Net asset value, January 11                         3, 046     
 
 Dividends                            11                    
 Administrative expenses              -6                        
 Other income and expenses             1                        
 Income/loss from fixed-asset          0                        
 receivables
 Financial income and expenses        20                        
 Taxes                                -1                 25     
 
 Change in value of securities
 portfolio
 Bilia                                55                    
 Christian Salvesen                   24                    
 Perbio Science                       18                    
 C. Tybring-Gjedde                    17                    
 Sydsvenska Kemi                      15                    
 SCA                                   7                    
 Esselte                               5                    
 Pergo                               -18                    
 Other holdings                       38                161 
 Change in net asset value                              186 
 before dividend etc.
 Payment for redemption share(2)                     -1,418 
 Change in value from synthetic                           0 
 buy-backs of Custos' own shares
 (swap agreement (3) which arose
 during 2002
 Transfer of market value of                              1 
 synthetic share buy-backs on
 December 31, 2001 (swap
 agreement (3)
 Preliminary redemption amount of                        -1 
 synthetic share buy-backs on
 March 31, 2002 (swap agreement
 3)(3)
 Other items                                            -26 
 Net asset value at end of period                     1,788 

 (1) The Custos shares that were included in the synthetic buy-back
     program on December 31, 2001, as provided by a mandate from
     the Annual General Meeting on April 5, 2001 (swap agreement 3),
     are assumed to have been redeemed at the market value prevailing
     on December 31, 2001 (MSEK 1).
 (2) Redemption payment and the dividend belonging to it
     (see "Redemption of Custos shares with payment in cash").
 (3) The Custos shares that were included in the synthetic buy-back
     program on March 31, 2002, as provided by a mandate from the
     Annual General Meeting on April 5, 2001 (swap agreement 3), are
     assumed to have been redeemed at the market value prevailing on
     March 31, 2002 (MSEK 1).

Information schedule


 -- Press release from the Annual General Meeting....Later today
 -- Interim Report, January 1 - June 30         July 17, 2002
 -- Interim Report, January 1 - September 30    October 17, 2002

Only reports attributable to the full-year accounts will be distributed to the shareholders. Other reports will be available at the Company's office and will be sent to shareholders that request them. All reports are also available on the Company's web site, www.custos.se.

This Interim Report has not been subject to special examination by the Company's auditors.

This Interim Report is published in Swedish and English. In the event of any difference between the English version and the Swedish original, the Swedish version shall govern.

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The following files are available for download:


 www.waymaker.net/bitonline/2002/04/19/20020419BIT00400/wkr0001.doc
 The Full Report

 www.waymaker.net/bitonline/2002/04/19/20020419BIT00400/wkr0002.pdf
 The Full Report


            

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