Deccan Value Advisors Fund L.P., A/D Value Fund L.P., Y/D Value Fund L.P., and Deccan Value Advisors Fund, Ltd., represented by Deccan Value Advisors L.P (“Deccan Value Advisors”), have on 22 December 2006 acquired an aggregate of 1 457 000 shares of class A and 3 000 000 shares of class B in IBS AB (publ) (the “Company”), representing 5.35 per cent of the Company’s share capital and 15.85 per cent of the number of votes in the Company, in accordance with the following:

• Deccan Value Advisors Fund L.P. (Federal Tax ID 56-2478603, c/o Deccan Value Advisors L.P., 15 Valley Drive, Greenwich, CT 06831, United States of America), 557 000 shares of class A and 1 134 300 shares of class B in the Company, representing 2.02 per cent of the Company’s share capital and 5.99 per cent of the number of votes in the Company.
• A/D Value Fund L.P. (Federal Tax ID 76-0803118, c/o Deccan Value Advisors L.P., 15 Valley Drive, Greenwich, CT 06831, United States of America), 275 800 shares of class A and 559 700 shares of class B in the Company, representing 1.00 per cent of the Company’s share capital and 2.96 per cent of the number of votes in the Company.
• Y/D Value Fund L.P. (Federal Tax ID 76-0803115, c/o Deccan Value Advisors L.P., 15 Valley Drive, Greenwich, CT 06831, United States of America), 273 700 shares of class A and 555 800 shares of class B, representing 0.99 per cent of the Company’s share capital and 2.94 per cent of the number of votes in the Company.
• Deccan Value Advisors Fund, Ltd. (Registration Number 8467, c/o M&C Corporate Services Limited, PO Box 309GT, Ugland House, South Church Street, George Town, Grand Cayman), 368 500 shares of class A and 750 200 shares of class B in the Company, representing 1.34 per cent of the Company’s share capital and 3.96 per cent of the number of votes in the Company.

As a result of the acquisition, holdings of the funds managed by Deccan Value Advisors in the Company have increased from 0 shares of class A and 927 000 shares of class B, representing 1.11 per cent of the Company’s share capital and 0.83 per cent of the number of votes in the Company, to 1 475 000 shares of class A and 3 927 000 shares of class B, representing 6.46 per cent of the Company’s share capital and 16.68 per cent of the number of votes in the Company, as follows:

• Deccan Value Advisors Fund L.P., 557 000 shares of class A and 1 483 000 shares of class B, representing 2.44 per cent of the Company’s share capital and 6.30 per cent of the number of votes in the Company (holdings prior to acquisition: 0 shares of class A, 348 700 shares of class B, representing 0.42 per cent of the Company’s share capital and 0.31 per cent of the number of votes in the Company).
• A/D Value Fund L.P., 275 800 shares of class A and 734 300...