Positive result for Bong Ljungdahl's convertible programme

6/25/2002 11:53 AM EST

POSITIVE RESULT FOR BONG LJUNGDAHL'S
CONVERTIBLE PROGRAMME

The launch of a new convertible programme for employees of the Bong
Ljungdahl Group has now been completed. "The programme has been well
received," says Lennart Pihl, President and CEO, "which reflects strong
confidence in the company among our personnel, especially those at
managerial level."

77 per cent of the convertible loan stock was subscribed to, and 81
employees accepted the offer, with managerial personnel predominating.
Lennart Pihl, President and CEO, subscribed to convertibles
corresponding to 48,600 shares. 42 of the employees accepting the offer
are employed abroad. Bong Swedex AB, a subsidiary, subscribed to
convertibles having a nominal value of SKr 6.3 million, corresponding to
103,761 shares, with the purpose to provide future employees the
possibility to participate in the programme.

The proceeds of the issue of the loan stock amounted to some SKr 21
million. The loan stock may be converted by the employees into 346,194
shares at a conversion price of SKr 61 per share between May 20, 2004
and May 20, 2007 inclusive.

After completion, the issue will dilute the company's share capital by
2.6 per cent (after now completed new rights issue).

The reason for this incentive programme is the Board's assessment that
the long-term personal commitment of the employees that comes from their
being shareholders will stimulate greater interest in the business and
its result.

Bong is one of Europe's leading envelope companies. The Group has an
annual turnover of around 2.4 billion kronor, has about 1,700 employees
and a manufacturing capacity of some 15 billion envelopes a year at its
production units in Sweden, Denmark, Norway, Finland, Estonia, Poland,
Germany, Belgium, England and Ireland. Over the past few years, Bong has
carried out a number of acquisitions of companies in the envelope
industry and has thus taken an active part in the current process of
structural transformation in the industry in Europe. The Group sees
attractive opportunities for further expansion and development. Bong is
a publicly listed company and its shares are listed on the Stockholm
stock exchange "O" list.

Kristianstad, Sweden, June 25, 2002

Bong Ljungdahl AB
Lennart Pihl
President and CEO

For further information, please contact Lennart Pihl, CEO and MD,
telephone 044 - 20 70 50,
0705 94 68 66, email  .

Bong Ljungdahl's internet address is www.bongljungdahl.se