Interim Report on the Operations of AB Custos for the

STOCKHOLM, Sweden, July 11, 2003 (PRIMEZONE) -- Custos:

- Total return on Custos shares during the report period was 38.8 percent.

- After accepting the offer from Volvo, Custos' holding in Bilia will amount to 18.9 percent of the capital and votes.

- Merger between Acando and Frontec.

- After the close of the report period, Custos divested its entire holding in Christian Salvesen.

Total return

Total return on Custos shares taking into account share price appreciation and, where appropriate, dividend paid and redemption of shares was 38.8 percent during the report period.

Return, January 1, 2003 - June 30, 2003


                                    %
 Total return on Custos shares (1) 38.8
 Cost of shareholders' equity (2)   3.2
 SIX Portfolio Return Index        10.9
 SIX Return Index                  10.9

(1) Return taking into account share price appreciation and, where appropriate, dividend paid and redemption of shares.

(2) Measured as the 12-month Treasury bill rate on January 1 plus a risk premium of 3 percent, taking the time factor (=report period) into account.

In this Interim Report, total net asset value, net asset value per share etc. are calculated on the basis of the assumption that Custos' offer to redeem shares with payment in the form of SEK 200 per share redeemed has been completed. The redemption payment is assumed to have been distributed and the Custos shares corresponding to this to have been redeemed. The last day to register for the exercise of redemption rights was June 18, 2003. Disbursement of the redemption payment is expected on July 24, 2003.

In the Company's formal accounts, however, the redemption amount has not been distributed, since completion of the offer is conditional upon the requisite decisions made by an Extraordinary General Meeting of Custos on May 7, 2003 and by the Board of Directors, as authorized by the Extraordinary Meeting on May 7, 2003, being implemented and registered with the Swedish Patent and Registration Office ("PRV").

Information schedule


 Interim Report, January 1 - September 30,        October 13, 2003
 2003...
 Preliminary Report on Custos' 2003 operations     January 28, 2004
 Annual General Meeting                           May 27, 2004

Only the Annual Report is distributed to the shareholders. Other reports will be available at the Company's office and will be sent to shareholders who request them. All reports are also available on the Company's web site, www.custos.se.

In addition to its regular report schedule, Custos reports its net asset value at the end of each month on the fourth working day of the following month. The Company's net asset value on July 31, 2003 will not be reported, however. Instead, net asset value on July 10, 2003 is presented in this Interim Report.

Review Report for AKTIEBOLAGET CUSTOS (publ) (Swedish corporate ID number 556036-1668)

We have reviewed this Interim Report in compliance with the recommendation issued by the Swedish Institute of Authorized Public Accountants (FAR). A review is substantially more limited than an audit. Nothing has emerged that indicates that this Interim Report does not fulfill the requirements of the Securities Exchange and Clearing Operations Act and the Annual Accounts Act.

KPMG Bohlins AB, Per Bergman, Authorized Public Accountant

This Interim Report is published in Swedish and English. In the event of any difference between the English version and the Swedish original, the Swedish version shall govern.

AB Custos, P.O. Box 1738, SE-111 87 Stockholm, Sweden Phone +46 8 440 57 70, fax +46 8 440 57 80, web site www.custos.se

Interim Report on the Operations of AB Custos for the Period January 1 -- June 30, 2003

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