New Wave Group AB (publ) sells its shares in the Russian subsidiary CJSC «New Wave Group»

New Wave Group AB (publ) sells its shares in the Russian subsidiary CJSC «New
Wave Group» 

Wave Group has sold its shares (representing 51% of the capital and votes) in
the Russian subsidiary CJSC «New Wave Group" ("NW Russia ") to the minority
shareholders in the company. In connection herewith, New Wave Group has also
made a capital injection to NW Russia through depreciation of loans. The
transfer and depreciation of loans are not expected to have any impact on the
group's earnings during Q4-2009, because the losses have been taken and the
reservations been made continuously.

In connection with the transfer, a distribution agreement has been signed with
NW Russia, which gives NW Russia the exclusive rights to sell promo wear under
the trademarks New Wave, Clique, and Texas Bull in Russia until the end of 2014,
subject to certain minimum purchase volumes are met.

Gothenburg 22 December 2009
 
New Wave Group AB (publ)
Torsten Jansson
CEO
 
For more information, please contact:
Torsten Jansson, CEO, tel: +46 (0)31 712 89 01, E-mail: torsten.jansson@nwg.se
Lars Jönsson, CFO, tel: +46 (0)31 712 89 12, E-mail: lars.jonsson@nwg.se