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(BSNS WIRE) Carl-Henric Svanberg New CEO and President of Ericsson Effective April 8, 2003

Business Editors/High-Tech Writers

STOCKHOLM, Sweden--(BUSINESS WIRE)--Feb. 6, 2003--Ericsson's
(NASDAQ:ERICY) Board of Directors has today appointed Carl-Henric
Svanberg new CEO and President of Ericsson.
He will take office at Ericsson's Annual General Meeting on April
8, 2003. Carl-Henric Svanberg is presently CEO for the international
lock group Assa Abloy. Ericsson's CEO and President Kurt Hellstrom
will stay with the company until year-end in order to secure a
successful hand over.
"Kurt Hellstrom has decided to make use of his possibility to
retire at the age of 60," says Michael Treschow, Ericsson's chairman
of the Board. "I am pleased to announce a very competent successor to
Kurt Hellstrom today."
Carl-Henric Svanberg has successfully led Assa Abloy into becoming
the world's leading lock maker. He has turned the company into a
highly efficient organization while distinguishing himself for his
excellent leadership skills.
"He will continue Kurt Hellstrom's successful work in controlling
Ericsson's costs, while keeping up our leading market position," says
Michael Treschow. "Carl-Henric Svanberg will keep the same focus as
Kurt Hellstrom, namely to make Ericsson return to profit, cut costs
and to strengthen our leading position."
"I have always perceived Ericsson as the world's strongest
company," says Carl-Henric Svanberg. "I will take over in hard but
exciting times. I am humbled by the task, but I have great confidence
in Ericsson and its employees."
"After 18 years with Ericsson, of which almost four were as
President, I am very confident in handing over to Carl-Henric
Svanberg," says Kurt Hellstrom, Ericsson's CEO and President. "The
telecom industry is going through tough times, but it is a
fundamentally strong industry with good growth potential."
In connection to today's announcement, Carl-Henric Svanberg
acquires Ericsson B-shares to a value of SEK 100 million at an average
closing price settled between the dates January 30 - February 7, 2003.
Industrivarden and Investor will supply an equal part of the shares in
this purchase.
Ericsson is shaping the future of Mobile and Broadband Internet
communications through its continuous technology leadership. Providing
innovative solutions in more than 140 countries, Ericsson is helping
to create the most powerful communication companies in the world.

--30--vp/ny*

CONTACT: Ericsson Inc.
Media:
Kathy Egan, [phone]
[e-mail]
Investors:
Glenn Sapadin, [phone]
[e-mail]

SOURCE: Ericsson Inc.

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