NOTE's restructuring continues

NOTE's restructuring continues

NOTE is continuing its restructuring and focus on Nearsourcing consistently. One
part of these efforts is to transfer labour-intensive production and sourcing
services to cost-efficient countries. Measures have now been taken to downsize
employee headcount in Sweden by a further total of approximately 100 employees.

“So far this year we've been vigorously implementing NOTE's re-alignment with
the consistent aim of realizing our new Nearsourcing strategy,” commented Arne
Forslund, NOTE AB's CEO and President, “we began modifying our organizational
resources back in the spring, mainly in Sweden, as we created the right
conditions to transfer labour-intensive production and sourcing services to our
units whose cost base benefits our customers and ourselves.”

“As part of NOTE's ongoing re-alignment and rationalization process, in the
first half-year we issued redundancy notices to 200 staff, or just over 25% of
the employee headcount in Sweden. We are now taking the next step, which we
think will downsize our staffing in Sweden by another 100 or so. This current
intended staff downsizing is mainly a consequence of our long-term strategy, and
the fact that during the autumn, we will be introducing a new, more efficient
organizational structure for our future. These measures will cut our costs,
while also reducing business risks and our cyclicality. We will have a far
better cost base at year-end than we did at the start of the year.”

“Moreover, the manufacturing market outlook has deteriorated. Thus year-to-date
sales to existing customers are somewhat lower than planned. But with our
goal-oriented focus on Nearsourcing, we're creating the right of prospects of
sales growth. Despite weaker market conditions for existing customers, we've
noted a positive trend-break since the summer, significantly increasing our
sales to new customers and new markets. This is very positive for our long-term
sales performance.”

“Based on our strong position in the market, our ambition is to keep starting up
new Nearsourcing centres on new geographical markets,” concluded Mr. Forslund.


For more information, please contact:
Arne Forslund, CEO and President, tel. +46 (0)8 568 99007, +46 (0)70 547 7477
Henrik Nygren, CFO, tel. +46 (0)8 568 99003, +46 (0)70 977 0686

About NOTE 
“Our business concept is to produce electronics from design to after-sales,
close to our customers.” NOTE is one of the Nordic region's leading service
providers in production and logistics relating to electronics-based products.
NOTE has a presence in Sweden, Norway, Finland, the UK, Estonia, Lithuania,
Poland and China. In 2007, net sales were MSEK 1,744; the group has
approximately 1,200 employees. For more information, go to www.note.eu