16OG Akbank 5.000% A

RNS Number:7820I
Perstorp AB
10 April 2000



Perstorp AB's Board recommends
acceptance of offer from Industri Kapital

In a press release today Industri Kapital announced a public offer through
Perstorp Intressenter AB to acquire all the shares and convertible debentures of
Perstorp AB.

The offer is a cash offer. SEK 140 is being offered for each Perstorp Series A
share and SEK 125 for each Series B share, including dividend in both cases. SEK
125, plus accrued interest to the date of tender, is being offered for each
convertible debenture certificate.

The offer represents a premium of 56 percent for the Series A share and 49
percent for the Series B share, compared with the average final price during the
90 most recent trading days. Compared with the average final price during the 30
most recent trading days, the offer represents premiums of 39 and 33 percent
respectively. Compared with the final prices for the respective classes of
shares on April 4, 2000, the offer represents premiums of 32 and 17 percent,
respectively.

The offer is contingent on conditions set forth in the press release referred to
above, which will be presented in their entirety in a prospectus that is
scheduled to be distributed to Perstorp's shareholders in the beginning of May.

Recommendation of the Board of Directors of Perstorp AB

Perstorp's Board of Directors has evaluated the offer from Perstorp Intressenter
AB and has voted unanimously to recommend that the holders of
Perstorp shares and convertible debentures accept the offer on the stated terms
and conditions and during the stated subscription period. The Board's action is
based on current market conditions and available information.

In connection with its evaluation and vote, the Board has taken a number of
factors into consideration:

-   The offer represents an attractive opportunity for Perstorp and its         
  employees to participate actively in the creation of a leading chemical       
company based in the Nordic Region, and to continue the development of        
Pergo's flooring business.

-   In the opinion of the Board, the increase in value that Perstorp can        
  create in the foreseeable future is smaller than that represented by the      
offer, due to the limited supply of capital in the Company's current          
structure.

The Board's recommendation is supported by a fairness opinion submitted by
Perstorp's financial adviser, Morgan Stanley Dean Witter.

Perstorp's chairman, Urban Jansson, comments on the offer:

- Perstorp's operations in chemicals and flooring must grow substantially in the
future if the Company is to be able to hold its own in its markets and create
increased value for its shareholders. The capital market's conservative
valuation of Perstorp as a small-cap company has made it difficult for the Group
to make the large acquisitions of companies that are necessary for Perstorp's
growth. The offer also represents a significant premium relative to the market
price of the Company's shares prior to the beginning of speculation pertaining
to a possible bid for Perstorp.

Perstorp's president and CEO, Ake Fredriksson, comments on the offer:

-    I believe that the continuing growth that Industri Kapital wants to      
achieve is in line with the strategy we have adopted, and positive for the    
Company and our employees. It has long been obvious to Perstorp's Board of    
Directors and Management that it is possible to achieve benefits of           
coordination by combining Perstorp's, Neste's and Dyno's chemical             
operations. There are also favorable opportunities, within the framework      
of Industri Kapital's activities, to strengthen Pergo's development,          
jointly with existing companies and through continuing acquisitions in        
related fields.

Perstorp Intressenter AB is owned by Industri Kapital's IK2000
private equity fund, (97 percent), and a number of Series A shareholders who are
members of the Wendt family, (3 percent).

Wilhelm Wendt, member of the Board of Directors, did not take part in the
Board's decision regarding the offer with reference to his ownership in Perstorp
Intressenter AB.

A takeover by Industri Kapital is conditional on receipt of the necessary
approvals from competition authorities, among other factors. Industri Kapital
has pledged that it will undertake the reasonable measures that the competition
authorities may require for approval of the acquisition of Perstorp AB.

New date for Annual General Meeting

Perstorp's Board of Directors has voted to give notice of an Annual
General Meeting to be held in Perstorp at 4:00 p.m. Thursday, May 25, 2000.

April 10, 2000
Perstorp AB


For additional Information, please call:

Urban Jansson, Chairman, Perstorp AB. Tel.: +46-70-590 80 90
Ake Fredriksson, Chief Executive Officer, Perstorp AB. Tel.: +46-435 386 06

Please also refer to Industri Kapital's press release on the following Internet
websites: www.industrikapital.com and www.perstorp.com


END

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