Ericsson (Ericy)

[Eric]

ERICY & ERICD

>> Ericsson's Changes ADS Ratio To Stay In Nasdaq

Timo Poropudas
Nordic Wireless Watch
October 18, 2002

Ericsson will execute a 1-for-10-ratio change for its American Depositary Shares, effective Oct. 23. The change will be made in an effort to meet requirements for listing on the Nasdaq National Market. The telecom equipment giant's ADSs closed Thursday at 54 cents, the 59th-consecutive session they closed below the required one-dollar minimum price.

After the change, the ADSs will temporarily trade under the interim symbol of "ERICD" for a period of 20 days to assist in making investors aware of the ratio change. Thereafter, the symbol will revert to the original "ERICY" trading symbol.

Ericsson Exits French, German And Swiss Stock Exchanges

Ericsson will exit from three European stock exchanges where the trading volumes are minuscule. The Ericsson board has authorized Kurt Hellström, the company CEO, to execute de-listing of the Ericsson B-share from Euronext (Paris), the German Stock Exchanges (Düsseldorf, Frankfurt and Hamburg) and the Swiss Exchange.

"Today, more than 99 percent of trading in Ericsson is on the OM Stockholmsbörsen, Nasdaq and the London Stock Exchange. In France, Germany and Switzerland the trading volumes are insignificant and do not justify the costs associated with the listings," Ericsson press release states.

The de-listing process begins immediately, but the exit times are expected to differ for each exchange. <<

- Eric -