The Bank of New York Selected as Successor Depositary For AB Electrolux

Business Wire, April 22, 2004

Business Editors

NEW YORK--(BUSINESS WIRE)--April 22, 2004

The Bank of New York, a global leader in securities servicing, has been selected by AB Electrolux as successor depositary for its American depositary receipt (ADR) program. The company's ordinary shares are listed on the Stockholm Stock Exchange and the London Stock Exchange. The Electrolux ADRs trade on the NASDAQ Stock Exchange under the symbol "ELUX." Each Electrolux ADR represents two ordinary shares.

According to the company, Electrolux is one of the world's largest producers of appliances and equipment for kitchen, cleaning and outdoor use, such as refrigerators, cookers, vacuum cleaners, washing machines, chainsaws, lawn mowers, and garden tractors. Electrolux is also one of the largest producers in the world of similar equipment for professional users. Headquartered in Stockholm, Sweden, Electrolux has sales of SEK 124.1 billion.

The Bank of New York is the world's largest depositary for American and global depositary receipts, allowing non-U.S. companies to offer dollar-denominated securities to investors worldwide. The Bank currently issues depositary receipts for more than 1,165 sponsored programs representing 65 countries and accounts for 63% of all sponsored depositary receipt programs.

The Bank of New York Company, Inc. (NYSE: BK) plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.

This announcement is not an offer to sell or a solicitation of an offer to buy any securities. The offering is made only by means of the prospectus.