EQT acquires the Plantasjen Group

EQT acquires the Plantasjen Group

EQT Northern Europe ("EQT") has successfully finalised the negotiations
to acquire the Plantasjen Group, the leading Nordic garden super-store
chain. The Company's management team will invest alongside EQT.

Plantasjen, based in Norway, with 18 outlets in Norway and 9 in Sweden,
is the "category killer" in the Nordic region within the garden centre
market, with a unique concept, the largest stores, broadest assortment
and the lowest prices in the gardening industry. Plantasjen operates in
a relatively stable industry ultimately driven by leisure trend. The
Company has demonstrated an impressive sales growth of +25% on average
per year since 1993, and is planning to double the number of outlets and
roll out into the rest of the Nordic region in the coming five years. As
part of this expansion strategy, Plantasjen recently acquired the
leading gardening retail chain in Sweden, Växus. Total sales in 2001 are
expected to reach approximately NOK 850 M. Its superior concept and
leading market position in Sweden and Norway will form the basis for the
growth strategy going forward.

Mr. Tore Thorstensen, Managing Director of the Plantasjen Group, states
in connection with reaching the agreement: "With the support of EQT, we
believe that we can further develop the unique Plantasjen concept and
drive the roll-out in the Nordic region. Plantasjen is currently in a
very exciting phase of its development, and we are enthusiastic towards
working with EQT in aggressively growing and developing the Company. As
a leading private equity player, EQT will be instrumental in supporting
us in the process towards a future potential listing of Plantasjen."

Mr. Claes Dahlbäck, Chairman of the Investment Committee of EQT, adds
"Plantasjen, with its impressive track-record of profitable growth and
its unique concept, fits well in EQT's strategy to invest in high-
quality companies with significant growth and development potential. The
Company is built on a clear vision, and we look forward to working with
the management team to realise the growth potential the Company has. EQT
intends to support and invest in the Company to enable a rapid rollout
in the rest of the Nordic region, and to strengthen Plantsjen's position
as a leading gardening retail chain in Northern Europe."

The agreement is subject to normal regulatory approvals.

EQT is a group of private equity funds with equity commitments exceeding
EUR 3 Bn and is sponsored by Investor AB, the publicly listed holding
company of the Wallenberg foundations. Since its inception in 1994, EQT
has successfully concluded investments in 25 companies and made 6 exits.
EQT Partners, acting as investment advisor to all EQT funds, has offices
in Stockholm, Copenhagen, Helsinki and Munich. EQT realises its business
concept by acquiring and developing high-quality medium sized companies
in Northern Europe. EQT serves as an active owner and works in close co-
operation with the management of the companies it acquires, to develop
and implement value-enhancing strategies.

For further information, please contact:

Mr. Claes Dahlbäck, Chairman of the Investment +31-20-577 66 57
Committee, EQT Northern Europe:
Mr. Tore Thorstensen, Managing Director, The +47-913 18 160
Plantasjen Group
Mr. Juhani Mikola, Partner, EQT Partners: +358-9-69 62 47 12
Mr. Christian Sinding, Director, EQT Partners: +49-89-25 54 99 16

www.plantasjen.no www.eqt.no




------------------------------------------------------------
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2001/09/18/20010918BIT00440/bit0001.doc
http://www.waymaker.net/bitonline/2001/09/18/20010918BIT00440/bit0002.pdf