Hakon Invest today finalized the acquisition of 50 percent of the shares in the fast-growing home electronics chain Kjell & Co Elektronik AB (Kjell & Company) in accordance with the agreement signed and made public on May 24, 2006. In total, Hakon Invest's investment in Kjell & Company amounts to SEK 100 million. The acquisition of 50 percent of the shares in Kjell & Company had been subject to customary terms and conditions and the approval by the authorities concerned. All of the terms and conditions have now been fulfilled.

"I'm delighted that we have forged a link with Kjell & Company. It is a company that fits us like a hand in glove. Kjell & Company is a successful home electronics chain with a well-developed and distinct concept, and we believe that the company has great prospects in the years ahead," says Claes-Göran Sylvén, President and Chief Executive Officer of Hakon Invest. Kjell & Company, a leading retailer of home electronics accessories in Sweden, owns and operates 16 stores in Sweden. The most recent store was opened on June 16 in Farsta and is the company's fourth establishment in the Stockholm region. During the 2006 calendar year, it is estimated that Kjell & Company will report sales of approximately SEK 260 million combined with healthy profitability. In the future, Kjell & Company will increase the expansion rate for the opening of new stores and its ambition is that the number of stores in Sweden will increase to about 40 in five years' time. Its planned expansion will be achieved while maintaining healthy profitability and will mainly be financed using existing funds. In addition to its stores, mail order and electronic trading are important sales channels for Kjell & Company. Read more about Kjell & Company's product range on the www.kjell.com website.

The acquisition analysis for Kjell & Company will be presented in Hakon Invest's interim report for the third quarter of 2006.

For more information, contact:

President
Claes-Göran Sylvén
tel. +46-8-553 399 64

Senior Investment Manager
Stein Petter Ski
tel. +46-8-553 399 44

Head of Investor Relations
Pernilla Linger
tel. +46-8-553 399 55

Hakon Invest, which is listed on the Stockholm Stock Exchange (Stockholmsbörsen) O-list, conducts active and long-term investment operations in retail-oriented companies in the Nordic region. Hakon Invest owns 40% of ICA AB, the Nordic region's leading retail company with focus on food. In addition, Hakon Invest owns 100% of the shares in Forma Publishing Group, which is one of Sweden's largest publishers. Further information about Hakon Invest is available at www.hakoninvest.se.