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Curt Nycander retires from V&S; directed development of Absolut Vodka Worldwide; Goran Lundquist named director of International Brands.

STOCKHOLM--(BUSINESS WIRE)--Jan. 10, 1995--V&S Vin & Sprit AB, the Swedish Wine and Spirits Corporation today announced that effected Feb. 1 Curt Nycander, executive vice president of V&S, is to retire after 17 years with the company.

Nycander joined V&S in 1977 and has directed the remarkable development of Absolut Vodka worldwide.

Commenting on the retirement Egon Jacobsson, president of V&S, said, "We wish Curt a long and happy retirement. Through the single minded focus of Curt and his team, Absolut Vodka has become one of the world's great brands, an icon. We shall truly miss him. However, I am delighted that we will continue to draw upon his services as an advisor."

Nycander said, "I decided long ago to hand over responsibility for Absolut Vodka once I turned 60. This also coincides with the new phase of development for Absolut -- not least because of the successful cooperation with Seagram. So it feels right for me to hand over the baton now."

Effective Feb. 1, Goran Lundquist is appointed director of International Brands, the business unit of V&S responsible for Absolut Vodka worldwide. Based in Stockholm, he will report to Jacobsson.

Lundquist, age 53, has considerable international business and brand management experience. Most recently, he was director of Business Development for Allders International, based in London. Previously he was managing director, Lipton Tea in Sweden and before this managing director, SAS Trading.

Commenting on his new role, Lundquist said, "It is a challenge to work with one of the most successful Swedish brands on the international market. My goal is to continue to focus on the expansion of Absolut Vodka, especially on the European market."

Jacobsson said, "1994 was a milestone year in the development of the International Brands division and the successful establishment of our distribution agreement with Seagram. We are delighted to welcome an international executive of Goran's calibre to our team and through our close working relationship with Seagram look forward to the continued growth of Absolut Vodka."

Absolut Vodka is the world's leading premium vodka and the second largest selling vodka brand in total. It was launched as an export product and was introduced in the United States in 1979, and it now accounts for more than 60 percent of all vodka imported into the U.S. Absolut Vodka is sold more than 90 markets worldwide and sales in 1994 exceeded 5 million cases. Seagram was selected to market and distribute Absolut Vodka because of the compatibility between Seagram and V&S and their respective premium brands.

Vin & Sprit AB is the Swedish Wine and Spirits Corporation founded in 1917, to be responsible for imports, production, wholesale and exports of beverage alcohol in Sweden. From Jan. 1, 1995 as a consequence of Sweden's entry into the European Union, V&S has ceased to have a monopoly on imports, production and wholesale of beverage alcohol products in Sweden but remains an important player in the Swedish market.

NOTE TO EDITOR: Photograph of Mr. Nycander available.

CONTACT: David Wachsman

212/750-7770
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Date:Jan 10, 1995
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