Scandinavian Equity Partners Ltd. (SEP) has today reached an agreement with Incentive AB to acquire the shares in TAC for a price of MSEK 420.

TAC develops, manufactures and markets products and services for building automation. This includes computerised control and management systems for Heating, Ventilation and Air Conditioning ("HVAC") as well as systems and software used for monitoring buildings and energy management. TAC is specialised in open integrated systems which makes it possible to integrate the different technical systems in a building e.g. HVAC, security, lighting and fire alarms. With an integrated system monitoring, controlling and optimising is made more efficient and flexible.

Headquarters is located in Malmö and production facilities in Västerhaninge. TAC has subsidiaries in the Northern European countries, Great Britain, Germany, Poland and Singapore and has approximately 770 employees. In 1997, TAC had a turnover of MSEK 775 and an operating profit of MSEK 34.

TAC operates through its three Business Units:

1. Systems develops, markets and installs complete control and information systems, specialising in integrated solutions in which different systems in a building are linked in a network.

2. After Sales offers building owners highly skilled service and maintenance technical services.

3. Partners sells primarily hardware and software tools in important geographical markets where TAC does not have an organisation of its own. This co-operation with strong local partners has been developed in order to ensure a rapid and efficient international expansion of the group.

"TAC is an impressive company with a very strong brand name, state-of-the-art products and a unique position in the Nordic market within Building Automation. We are therefore very happy to be able to invest in TAC and to participate in the further development of the company - market as well as product wise", says Mr. Gösta Bystedt, Chairman of SEP.

SEP is an investment company, which invests in medium sized Northern European companies with a considerable potential for development. SEP is owned by Investor AB, AEA Investors Inc. and S-E Banken with almost SEK 3 billion in committed capital at its disposal. SEP has already invested in the following companies: Brukens AB, Sabroe Refrigeration A/S, Orrefors Kosta Boda AB (Royal Scandinavia A/S), Perlos Oy, Duni AB, Flexlink AB and Struers A/S (Radiometer Scientific Product Group). EQT Partners AB is acting as the exclusive investment advisor to SEP.

February 16th 1998

Gösta Bystedt
Chairman of the board of Scandinavian Equity Partners Ltd.