Interim Report January - June 2003

7/23/2003 7:01 AM EST

Interim Report
January - June 2003


·Sales declined by 8% and reached 6,280 MSEK (6,850)

·Sales were up 1% in local currencies

·Snuff volumes up 5%

·Operating income declined to 1,069 MSEK (1,245) or by 14%

·Currency translation impact reduced operating income by 130 MSEK, or 10%

·EPS increased by 21% and was 2.52 SEK (2.09)

·Total shares outstanding as of June 30, 2003 was 331.2 million (348.3)

For further information, please contact:
Lennart Sundén, President and Chief Executive Officer office +46 8 658 01 75
Sven Hindrikes, Executive Vice President and Chief Financial Officer office +46 8 658 02 82
mobile +46 70 567 41 76
Bo Aulin, Senior Vice President, Secretary and General Counsel office +46 8 658 03 64
mobile +46 70 558 03 64
Emmett Harrison, Vice President, Investor Relations office +46 8 658 01 73
mobile +46 70 938 01 73
Lin McKinnie, Vice President, Investor Relations (US) office +1 804 302 1912
mobile +1 804 502 1912