STOCKHOLM, Sweden, Nov. 11, 2003 (PRIMEZONE) -- Intrum Justitia-- Provisions:
* Initial adjustment for accounting inaccuracies remains
at SEK 80 M, charged to Q2, 2003
* Additional provision of SEK 104 M charged to Q3, 2003,
to align operation to Group policy as regards to
unallocated payment
* Costs for review, new processes and routines amounts
to SEK 48 M, of which SEK 41 M has been charged to Q3
* Evidence of deliberate misstatement of results and balances --
further investigation as to legal remedies
* New processes for finance reporting and control functions
implemented during 2003
Press conference today at 10.00 a.m. CET at Operaterassen in Stockholm Intrum Justitia invites you to a press conference open for journalists and analysts today at 10.00 a.m. CET at Operaterassen in Stockholm, Sweden. CEO Jan Roxendal and Chairman Bo Ingemarson will present the Group's conclusions of the review, present the Q3 results and answer questions. The conference will be held in Swedish. To listen to the conference, please dial +46 8 500 500 91. Intrum Justitia's Chairman, CEO and other members of Intrum Justitia's management will be available for individual interviews after the press conference.
Tele conference today at 3.00 p.m. CET The conclusions from the review and Q3 results will be presented in a telephone conference held in English today at 3.00 p.m. CET. Please call in on phone number: +44 208 515 2319, or +1 800 814 4941. Intrum Justitia will be represented by CEO Jan Roxendal and CFO Bertil Persson. The conference will also be broadcast on the Internet. A replay of the telephone conference is available approximately one hour after the conference has ended. The replay will be accessible 48 hours after the conference. The replay number is +44 208 797 2499, code: 948806#.
Intrum Justitia, Europe's leading Credit Management Services Group, has substantially completed the review of its English subsidiary, following the announcement on July 28, 2003, that accounting inaccuracies had been discovered and that a full investigation was being launched with immediate effect. The objective, scope and summary of the review are presented in Appendix 1.
For complete financial information, please see the interim report published today.
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The full release is available for download:
http://www.waymaker.net/bitonline/2003/11/11/20031111BIT00140/wkr0001.doc
http://www.waymaker.net/bitonline/2003/11/11/20031111BIT00140/wkr0002.pdf