CDON Group to recognise SEK 15 million of one-off costs

CDON Group to recognise SEK 15 million of one-off costs

CDON Group AB (publ.) (‘CDON Group' or ‘the Group'), the leading
e-commerce group in the Nordic region, today announced that it will
recognise one-off costs of approximately SEK 15 million in its results
for the third quarter and nine months ended 30 September 2011. These
costs reflect a restatement of Norwegian customs duties and VAT over the
past three years, which had historically been inaccurately reported by
Nelly.com and Gymgrossisten.com. The recognition will not affect the
Group's underlying business, profitability or revenue growth.

Approximately SEK 13 million of this amount is attributable to Nelly.com
and SEK 2 million to Gymgrossisten.com.

The error resulting in an understatement of duty costs originated from
an incorrect setting of the parameters that determined Norwegian customs
duty declaration routines in 2007. This inaccurate setting had been made
during the implementation of a new ERP-system and was discovered during
a recent internal review of the Group's exports processes, following the
demerger from the former parent company MTG.

The one-off costs will be reported as a separate line item above the
gross profit line in CDON Group's consolidated income statement, and as
an adjustment of interest bearing short term liabilities on the Group's
consolidated balance sheet.

These one-off costs will not have any impact on the Group's future
earning capabilities.

CDON Group will announce its financial results for the third quarter and
nine months ended 30 September on 17 October.

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For further information please visit cdongroup.com or contact:

Mikael Olander, President and Chief Executive Officer
Tel:                          +46 (0) 10 703 20 00

Investor and analyst enquiries:
Martin Edblad, Chief Financial Officer         
Tel:                          +46 (0) 700 80 75 03
Email:                     ir@cdongroup.com            

Press enquiries:
Fredrik Bengtsson, Head of Communications              
Tel:                          +46 (0) 700 80 75 04
Email:                     press@cdongroup.com