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Regulatory
Press release
5 May 2004, 19:34 CET

Continued buy-backs of own shares

Continued buy-backs of own shares Billerud's board of directors has today, with the support of of the Annual Shareholders Meeting´s authorisation to the Board, decided to continue buying back Billerud shares. This decision is part of the change to the company's capital structure in accordance with financial targets, i.e. that the net debt/equity ratio shall be between 0.6 and 0.9. The net debt/equity ratio after paying dividends mid May 2004 amounts to approx 0.55. Shares will be bought at the Stock Exchange at market prices at each moment. Billerud today owns 4 657 000 own shares. At today's Annual General Meeting of Billerud AB, it was decided to reduce the share capital by way of withdrawal of these shares. Up to the point in time when the reduction procedure is finalised, a maximum number of around 1.1 million own shares could be bought back. After the expected finalisation of the reduction procedure in September 2004, an additional maximum of around 1.8 million shares could be bought back, at today's share price, up to the AGM in 2005. Further information about Billerud AB can be found at www.billerud.com Stockholm 5 May 2004 Billerud AB (publ) Bert Östlund CEO For further information, please contact: Ingvar Petersson, Chairman of the Board, +46 70 595 7605 Bert Östlund, CEO, +46 8 553 335 00 or +46 70 518 2757 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/05/20040505BIT00810/wkr0001.doc http://www.waymaker.net/bitonline/2004/05/05/20040505BIT00810/wkr0002.pdf