MEKO

M&A Activity • May 7, 2009

Press release May 7th 2009

Unique collaboration between Mekonomen and Svenska Bil

Mekonomen and Svenska Bil have signed a letter of intent regarding a collaboration initially comprising at least 6 establishments. The establishments are intended to be a part of the new concepts Mekonomen Mega and Mekonomen Medium, with stores and workshops next to each other, offering excellent availability and service.

The collaboration will be structured as a joint company with Svenska Bil as the majority owner.

The objective is that the collaboration will commence during the spring in order to be completed by year end 2009.

• This is a new step in the development of the car industry, all in line with the EU block exemption. We see great potential in the development of our business within these concepts, says Lars-Gunnar Jönsson, CEO Svenska Bil.
• The collaboration with Svenska Bil enables possibilities for a faster expansion of our new concepts Mekonomen Mega and Mekonomen Medium, situated in outstanding locations, to be able to meet the increased demand we see from our customers. Our ambition is to make the Carlife simpler and this is a significant and important step. Based on our leading positions in our respective areas, this collaboration between Mekonomen and Svenska Bil will facilitate an even stronger offering to our customers, says Håkan Lundstedt, President and CEO Mekonomen.

For further information contact:

Håkan Lundstedt, President and CEO Mekonomen AB, +46 (0)8 464 00 17 Lars-Gunnar Jönsson, President Svenska Bil Norden AB, +46 (0)8 505 690 00 Gunilla Spongh, CFO Mekonomen AB, +46 (0)8 464 00 80