Ericsson reduces its share in Intracom S.A.

12/30/1998 10:15 AM EST

ERICSSON REDUCES ITS SHARE IN INTRACOM S.A.


Ericsson has sold part of its shares in the Athens Stock Exchange listed
company Intracom S.A. According to an agreement, the present major
shareholders of Intracom S.A., Mr. S Kokkalis and C. Dimitriadis have
purchased 60 percent of Ericsson's previous holding in Intracom S.A.


Ericsson has now reduced its ownership in Intracom S.A from approximately 13
percent to 5 percent of the shares. Ericsson remains the third largest
shareholder in Intracom S.A.

Ericsson and Intracom S.A. will continue their cooperation, which is very
beneficial to both companies. Extended cooperation in Greece as well as in
international markets is envisaged by the two companies.

Shares have been sold for a total amount of approx. 860 MSEK, corresponding to
a net profit of slightly less than 700 MSEK.

Ericsson is the leading provider in the new telecoms world, with
communications solutions that combine telecom and datacom technologies with
the freedom of mobility for the user. With more than 100,000 employees in 140
countries, Ericsson simplifies communications for its customers - network
operators, service providers, enterprises and consumers - the world over.

Please visit Ericsson's Press Room at: http://www.ericsson.se/pressroom

FOR FURTHER INFORMATION, PLEASE CONTACT


Lennart Grabe, Senior Vice President, Mergers & Acquisitions
Phone: +46 8 719 4226 or +46 70 590 4182
E-mail:  

Pia Gideon, Manager External Relations
Phone: +46 8 719 2864 or +46 70 519 2864
E-mail: