LUNDBERGS SELLS ITS CARDO SHAREHOLDING

L E Lundbergföretagen has reached an agreement with ASSA ABLOY concerning the divestment of Lundbergs' entire holding of 11,150,000 shares in Cardo, corresponding to 41.3% of both the share capital and the voting rights in Cardo.

The agreed price of SEK 420 per share is equal to a total sales consideration of SEK 4.7 billion. The sale will generate a capital gain of approximately SEK 2.5 billion for Lundbergs. The agreement between Lundbergs and ASSA ABLOY is subject to approval for the transaction from the relevant competition authorities. Takeover and receipt of the proceeds for the shares will occur when the requisite approvals have been obtained, which is expected to take place during the first quarter of 2011.

The agreement includes a clause whereby Lundbergs is entitled to receive compensation in the event of an increased offer for, or a further sale of, Cardo by ASSA ABLOY.

Lundbergs has been the principal shareholder of Cardo since 1998. The shares were acquired primarily during the period 1997 to 1999 and the average holding period has been approximately 12 years. The total return on the Cardo share during the holding period has been slightly more than 15% annually. During the same period, the average total return on the NASDAQ/OMX Stockholm Exchange has been just above 8%.

"Lundbergs has exercised active ownership of Cardo since 1998 and I have been Chairman of the Board since then. Cardo has developed favorably and we have achieved a healthy return on our investment.

We support ASSA ABLOY's bid for Cardo and have arrived at the assessment that our agreement with ASSA ABLOY will contribute to an industrially sound and correct transaction," says Fredrik Lundberg, President and Chief Executive Officer of Lundbergs.

Stockholm, December 13, 2010

L E LUNDBERGFÖRETAGEN AB

Any questions pursuant to this press release will be answered by Fredrik Lundberg, who can be reached via Lundbergs' Information Manager, Roger Ekström, at +46-(0)709-21 65 06.

This is the type of information that L E Lundbergföretagen AB (publ) is obligated to disclose in accordance with the Swedish Securities Market Act (SFS 2007:528) and/or the Financial Instruments Trading Act (SFS1991:980). The information was submitted for publication on December 13, 2010, at 08:20 a.m. CET.

This press release has been published in Swedish and English. In the event of any deviation between the two language versions, the Swedish-language version will prevail.