Annual General Meeting of Hexagon

5 May 2004

At the Annual General Meeting of Hexagon AB (publ) today, it was resolved in accordance with the following.

Board of Directors and Auditor
The Directors Melker Schörling, Maths O Sundqvist, Hans Nergårdh, Ola Rollén and Carl-Henric Svanberg were all re-elected to the Board. In addition, Marianne Arosenius was elected Director of the Board through new-election. Arosenius, born 1962, is Master of Engineering at KTH and has an MBA from Harvard. During many years, Marianne Arosenius has had leading positions within different divisions of the ABB Group. She was Vice President at Allgon System AB until 2003 and before that Managing Director of Softronic AB. At the moment, Arosenius runs her own consultancy business and is board member of Bindomatic AB.

The AGM also confirmed that the Directors' fees for the year 2004 shall be SEK 975,000, to be allocated by the Board among the Directors elected by the AGM but not employed by the company. At the Statutory Meeting following the AGM, Melker Schörling was re-elected Chairman of the Board and Maths O Sundqvist was re-elected Vice Chairman of the Board.

The accounting firm Ernst & Young AB, with authorized public accountant Peter Lander as the representative authorized public accountant, was elected for a period of four years.

The AGM approved the proposal submitted by the Board of Directors, thereby confirming the dividend of SEK 4.60 per share. Further, the AGM resolved according to the proposal from the Board of Directors to distribute of Hexagon's total share holding of 1,404,823 shares Series B in the O-listed company VBG AB in proportion to the shareholders' ownership of shares in Hexagon. The proposal means that for every 13.16285 shares Series A and/or B in Hexagon, 1 share Series B will be obtained in VBG. Due to the distribution ratio, all shareholders will obtain fractions of shares in VBG. Such fractional shares will automatically be combined and sold on behalf of the shareholders, and the shareholders will obtain their part of the sales proceeds as cash payment.

Record day for the above dividends will be Monday 10 May 2004. Dividend settlements will be handled by VPC AB (the Swedish Securities Register Centre) and the estimated settlement day will be Thursday 13 May 2004. Any shareholder who by that time is entitled to dividend will obtain cash payment and VP notice showing the holding of shares in VBG.

Nomination-, Remuneration- and Auditing Committee
Melker Schörling and Maths O Sundqvist were re-elected members of the Nomination Committee regarding the Annual General Meeting 2005. At the Statutory Meeting follow-ing the AGM, Melker Schörling, Maths O Sundqvist and Ola Rollén were re-elected members of the Remuneration Committee and Hans Nergårdh and Maths O Sundqvist were re-elected members of the Auditing Committee for the time until the next Statutory Meeting.

Approval according to the Swedish Act on Directed Placement for Stock Market Companies etc. (SFS 1987:464) (the "LEO Law") of Tecla AB's sale of Metodsvets i Kungälv AB.

The AGM approved the sale of all of the shares in Metodsvets i Kungälv AB by Hexagon's wholly-owned subsidiary Tecla AB to Fiveowner AB pursuant to a Share Purchase Agreement dated November 19, 2003. At the time of the sale, Fiveowner AB was owned by employees of companies within the Hexagon Group. The purchase price amounted to SEK 3,600,000. Closing of the transaction occurred on January 2, 2004.

For further information, please contact:

Ola Rollén, President and CEO, Hexagon AB, Phone: +46 8 601 26 20
Håkan Halén, CFO, Hexagon AB, Phone +46 8 601 26 20

Hexagon is a multinational engineering technology group with the ambition to become number 1 or number 2 in its strategic businesses. The group's targets are to increase earnings per share after tax by at least 15 per cent p.a., and achieve a return on capital employed of more than 15 per cent over a business cycle.

Media Enquiries
PR Team
Hexagon AB
Email icon The Email ampersand icon