STOCKHOLM, Sweden, Sept. 19, 2002 (PRIMEZONE) -- Due to poor audio quality at today's telephone conference, which took place following the management changes in Intrum Justitia, a summary of the telephone conference follows below.
Peter Sjunnesson's decision to leave his position as CEO is based upon personal reasons. The Board of Directors has appointed Bertil Persson, Chief Financial Office of Intrum Justitia, as Deputy CEO and acting CEO of the company. In addition, Bo Ingemarson, current Chairman of the Board, will assume the role of working Chairman under the transition period. The aim is to recruit a new CEO as soon as possible.
Bo Ingemarson confirmed that Intrum Justitia's growth strategy remains unchanged. Intrum Justitia's organic growth target of more than 10 percent per annum, as presented in the prospectus, stands. The forecast for the full-year 2002, that this target will be exceeded, remains unchanged. And so far this third quarter has developed according to plan.
Peter Sjunnesson explained that his decision is based upon personal reasons in combination with a very high workload during the past twelve months. He further stated that he leaves a company, which is well positioned strategically as well as financially, with a strong business platform and an experienced management team.
Bo Ingemarson pointed out that Intrum Justitia has a leading position and a strong and decentralized organization. He saw no reasons for the company to not be able to pursue its course in the short and medium term.
Interested parties are invited to participate in a new telephone conference tomorrow, Friday, September 20, at 1 p.m. C.E.T (Noon GMT). Please dial +44 (0) 20 8401 1043.
For additional information, please contact: Anders Antonsson, Investor Relations Tel: +46 8 546 10 206 Mobile: +46 703 36 78 18 E-mail: a.antonsson@se.intrum.com
Intrum Justitia Europe's leading Receivables Management Services Groups
The Group has revenues of over SEK 2.3 billion and has about 2,600 employees in 21 European countries. Intrum Justitia's objective is to be a leading provider of RMS in Europe through excellence in local client care, ledger administration and debt collection and by measurably improving clients' cash flow and long-term profitability. The Group offers efficient high quality management of commercial and consumer receivables in all phases in the RMS process. Intrum Justitia has a growth strategy and aims to take active part in consolidating its industry. Intrum Justitia is listed on Stockholmsborsen (the Stockholm Exchange), ticker IJ. For more information, please visit www.intrum.com.
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