Acquisition of Bauwens completed

3/2/2000 8:14 AM EST

Bong's acquisition of the Wolf-Bauwens/Reinhart Schmidt Group was
completed as planned on March 1 st, when the parties signed the final
documents in Zug, Switzerland.

Bauwens is consequently a member of the Bong Group and will, as previously
announced, be consolidated with effect from January 1 st 2000. The
integration process is beginning immediately.

Following the acquisition the Group will be the leading envelope
manufacturer in Europe, with an annual turnover of some SKr 2.5 billion,
and some 1,800 employees.

The new Group's strong position of leadership on the North European market
will create valuable opportunities for further expansion and active
involvement in the process of structural change that has begun, and is
expected to continue within the European envelope industry.

In connection with the acquisition of Bauwens, Bong obtained an option to
acquire 39 % of EEC, a Belgian envelope manufacturer. Discussions are in
progress with other shareholders in EEC, who claimed, following the
announcement of the acquisition, to have pre-emptive rights to these
shares in EEC. This claim is now being investigated.

Kristianstad, March 2nd 2000

Bong Ljungdahl AB
Lennart Pihl

For further information, please contact Lennart Pihl, Managing Director
and Group Chief Executive, Bong Ljungdahl. Tel: +46 44 20 70 50; mobile:
+46 70 594 68 66