Press release 31 March 2008
Ministry of Finance
Ministry of Enterprise, Energy and Communications

The Government Sells Vin & Sprit for SEK 55 billion

The Government of Sweden has agreed to sell V&S Vin & Sprit AB (V&S) to Pernod Ricard S.A. (Pernod Ricard), one of the world's leading wine and spirits companies. The total value of the transaction for V&S, owner of the Absolut vodka brand, is equivalent to SEK 55 billion in accordance with the agreement signed on Sunday March 30.

- Through a carefully executed sale process we have achieved a very good transaction for V&S and for the Swedish people. Pernod Ricard submitted an offer that on an overall assessment is the most attractive, including offering the highest purchase price of the four final bids. Pernod Ricard will be an excellent home for V&S. The board of V&S has expressed that they see significant industrial logic in the transaction, says Mats Odell, Minister for Local Government and Financial Markets.

Absolut vodka will be Pernod Ricard's number one brand. The buyer intends to keep V&S as a Swedish entity, based in Sweden, with continued responsibility for production and marketing in accordance with its established practice of decentralized management of key brands.

Pernod Ricard will acquire the whole company, excluding V&S's 10 per cent stake in Beam Global Spirits & Wine, Inc., the American spirits company. The State will dispose of the Beam stake in a transaction with its majority owner in the coming months.

The Council for sale of shares in companies with state ownership has submitted an opinion that supports the sale to Pernod Ricard.

Morgan Stanley acted as financial advisor to the Swedish State. Vinge and KPMG, respectively, were advisors in legal and audit matters.

Summary Facts About the Transaction:

• The consideration for 100 per cent of the shares in V&S will be paid in USD and EUR, of which USD 6,050 million and EUR 1,450 million
• In addition to the consideration for the shares, the buyer will assume the net debt and other liabilities and pay interest on the purchase price from 1 January 2008 until closing of the transaction
• The total value of the transaction, including the share purchase price, net debt, other liabilities and including interest, is equivalent to SEK 55 billion using the relevant average exchange rates for the past 30 days
• The sale of V&S's 10 per cent stake in Beam follows a predetermined agreement between the shareholders in Beam
• The Swedish State intends to use the proceeds for payments in foreign currencies
• The acquisition is fully financed with guaranteed funds from a group of international banks
• The transaction is estimated to close at the earliest during the first part of the summer 2008.

A joint press conference with Pernod Ricard´s chairman Patrick Ricard and managing director Pierre Pringuet regarding the sale of V&S will be held at Rosenbad, Bella Venezia at 9.30 am CET. A valid press identification is required in order to attend the press conference. The press conference will be webcasted on the government website, www.regeringen.se