ASSA ABLOY Group.

ASSA ABLOY Group announces several new appointments to its executive team effective January 1, 2004. Goran Jansson takes up a new position as deputy CEO of the ASSA ABLOY Group. Jansson, who joined the group as CFO in 1997, has been instrumental in developing the company's strategy. Having successfully launched the new business segment, Global Technologies, in 2003, he will now put further efforts in group common issues, including the coordination of common technology development processes under the "Leverage and Growth" program alongside with his CFO function.

Thanasis Molokotos has been appointed head of ASSA ABLOY Americas. Molokotos has been with ASSA ABLOY since 1996, most recently as head of the Architectural Hardware Group, which represents 40% of ASSA ABLOY Americas. The group developed very impressively under Molokotos's leadership and several of the companies in this sub-group count among the best in ASSA ABLOY.

Joe Grillo takes over as responsible for Global Technologies. Grillo, who joined the group in 2001, most recently served as president and CEO of the Identification Technology Group, a world leader in proximity card technology. Under his leadership the ITG grew substantially in size and performance from its US base, recently through a number of acquisitions in Europe.

Ake Sund has been promoted to executive vice president of ASSA ABLOY. Sund has been with the group since its formation in 1994 and will maintain his responsibility of market and business development with special emphasis on global brands and retail development.

In other news, ASSA ABLOY has received regulatory approval to acquire Nemef BV in the Netherlands and Corbin Srl in Italy from Black & Decker, as in line with the agreement signed in March 2003. The acquisition is expected to be completed in early January and will strengthen the group's position in both countries and includes the well-known brand names Nemef and Corbin. Nemef produces and sells a full range of locks including cylinders. Corbin manufactures cylinders and sells padlocks and locks.

ASSA ABLOY AB (publ), Box 70340, SE 107 23, Stockholm, Sweden (46 8 506 485 00) www.assaabloy.com.