ASSA ABLOY

Regulatory Filings • Jan 15, 2009

January 15, 2009 no 01/09

Restructuring program expanded

The review of the Group's production structure in high-cost countries that was announced in 2008 has now been completed, and has been expanded to include around forty restructuring projects which will affect all the Group's divisions. The expanded program involves further closures of 15 production units and a move to final assembly work in the remaining units in high-cost countries. In addition, it has been decided to carry out a consolidation of administrative support functions.

It is estimated that the expanded program will cost SEK 1,180 M (including the SEK 247 M that was set against earnings in the third quarter), compared with the SEK 800 M that was announced earlier. This figure also includes both the relocation of the production plant at Barkan on the West Bank and the effect of the weakened krona since the program was settled in August 2008.

The program is expected to be expensed in its entirety in 2008 and has a payback time of 2 to 3 years. A total of 1,800 employees will be affected by the measures, compared with the 1,200 announced earlier.

The fourth quarter will also be burdened with one-off costs totaling about SEK 80 M relating to the provision of supplementary lock protection in the Swedish operation.

For more information, please contact:

Johan Molin, President and CEO, tel no: +46 8 506 485 42 Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506 485 72

ASSA ABLOY may be required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 08:30 CET on 15 January.