Electrolux has completed the acquisition of Olympic Group

Electrolux has completed the acquisition of Olympic Group

Electrolux has completed the Mandatory Tender Offer that was launched in
conjunction with the acquisition of Egypt's leading appliance
manufacturer, Olympic Group, and now owns 98.33% of the company's
shares.

Electrolux has successfully completed the Mandatory Tender Offer that
was launched in connection with the agreement to acquire Paradise
Capital's 52% majority stake in Olympic Group Financial Investment
Company S.A.E (Olympic Group).

Olympic Group will be consolidated in the Electrolux Group as of
September 2011, and Electrolux intends to delist Olympic Group's shares
from the Egyptian Exchange no later than in the first quarter in 2012.

Electrolux intends to offer remaining minority shareholders a continued
opportunity to sell their shares in Olympic Group over the next twelve
months.

At the beginning of July 2011, Electrolux announced the signing of an
agreement to acquire the appliance manufacturer, Olympic Group. Olympic
Group has 7,300 employees and manufactures washing machines,
refrigerators, cookers and water heaters. Olympic Group, excluding the
two associated companies Namaa and B-Tech which are not part of the core
business and will be divested, had sales of about EGP 2.3 billion (SEK
2.5 billion) in 2010, and a recurring operating profit of about EGP 265
million (SEK 280 million). This corresponds to a margin of 11% and a net
profit of about EGP 190 million (SEK 200 million). Olympic Group is a
leading manufacturer of appliances in the Middle East, with a volume
market share in Egypt of about 30%. Electrolux and Olympic Group have
developed a successful commercial partnership in the region over a
period of almost 30 years, which today covers technology, component
supplies, distribution and brand licensing.

The exchange rate used for translation from EGP to SEK is as of June 30,
2011.

For further information, contact Electrolux Press Hotline, +46 8 657
65 07.

Electrolux discloses the information provided herein pursuant to the
Securities Market Act and/or the Financial Instruments Trading Act.