Extraordinary shareholders meeting of Swedish Match approves share buyback mandate

10/27/2000 10:05 AM EST

Extraordinary shareholders meeting of Swedish Match approves share buyback
mandate

At an extraordinary shareholders meeting of Swedish Match today a decision
was made reduce the share capital by 41.640.504 SEK by canceling
17,350,210 repurchased shares, equivalent to 4.3 per cent of the number of
shares of Swedish Match.

It was further decided that the authorization, which was granted the Board
at the ordinary shareholders' meeting, to repurchase shares to the extent
that the company holds at any one time not more than 5 per cent of the
shares of the Company, be increased to a maximum of 10 percent of the
shares of the Company.

Swedish Match is an international group with its head office in Stockholm.
The company manufactures a broad range of products within the OTP (Other
Tobacco Products) category, with smokeless tobacco as its core business
along with cigars and pipe tobacco, as well as matches and lighters. The
products are sold in approximately 140 countries. Sales for the twelve
months period ending September 30, 2000 amounted to approximately 10,900
SEK. Swedish Match is listed on OM Stockholm Exchange (SWMA) and on NASDAQ
(SWMAY).

For further information, please contact:
Lennart Sundén, President & Chief Executive Officer office +46 8 658 01 75
Sven Hindrikes, Executive Vice President & office+46 8 658 02 82
Chief Financial Officer mobile +46 70 567 41 76
Bo Aulin, Senior Vice President Corporate Affairs, office +46 8 658 03 64
Secretary & General Counsel mobile +46 70 558 0364
Emmett Harrison, Vice President Investor Relations office +46 8 658 01 73
Mobile +46 709 38 01 73