Press Release 14 June 2006

• Ratos is acquiring 62.5% of the Norwegian wood burning stove and fireplace manufacturer Jøtul
• Ratos's investment amounts to approximately NOK 235m
• Jøtul's previous main owner, Accent Equity, will stay on with a 22.5% stake in the company
• Jøtul, which is Scandinavia's leading manufacturer of wood-burning stoves, reported pro forma EBITDA of NOK 90m in 2005 on sales of approximately NOK 775m

Established in 1853, Jøtul has shown strong growth during the past ten years, with average annual sales growth of 10%. The company's products are sold around the world, primarily through specialty stores, but in some markets also through the do-it-yourself trade. Jøtul's market share in Scandinavia is roughly 25%, while its global market share is just under 10%. The company has production plants in Norway, Denmark, the USA and France. In all, Jøtul has 740 employees in six countries.

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Press Release 8 may 2006
Jøtul North America Wood Stove earns Hearth product industry’s top Design Award. Jøtul C 350 wood stove and the Jøtul GI 550 DV gas insert are finalists.

GORHAM, Maine – “Hearth &Home Magazine” recently presented Jøtul North America with its Vesta Award for the Jøtul F 370 wood stove. The Jøtul F 370 wood stove was judged best among all entries in the Wood Stoves and Inserts category. The Vesta Awards were presented March 10, 2006, during the 2006 Hearth, Patio & Barbecue Expo held in Salt Lake City.

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Jøtul acquires the Danish stove and fireplace manufacturer SCAN

Jøtul AS has made an agreement to acquire the companies that manufacture and distribute stove and fireplace products under the trademarks SCAN, SCAN DSA, SCAN Andersen and KAWANI steel chimneys from the Danish Krog Iversen family. The acquisition will strengthen Jøtul’s position as one of the leading global players within its business.

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