Proposal regarding Board of Directors etc. of Cardo

Proposal regarding Board of Directors etc. of Cardo

In a press release on March 15 2011, ASSA ABLOY has confirmed that the
company completes its public offer to the shareholders of Cardo AB
(publ) (”Cardo” or the ”Company”) and that ASSA ABLOY following
settlement, which is expected to take place on or around March 18 2011,
will hold approximately 98.2 per cent of the total number of shares and
votes in Cardo. In a statement to the Board of Directors of Cardo on
March 15 2011, ASSA ABLOY has informed that the company, in light of the
aforementioned, proposes the following to Cardo's Annual General Meeting
on April 4 2011:

-  To elect the Chairman of the Board of Directors, Fredrik Lundberg, as
Chairman of 
   the Annual General Meeting
-  That the Board of Directors shall consist of five Directors, without
any Deputy Directors
-  To elect Johan Molin, Tomas Eliasson, Juan Vargues, Jacob Wahlberg
and Krister Eriksson
   as Directors
-  To elect Johan Molin as Chairman of the Board and Juan Vargues as
Vice Chairman of 
   the Board
-  That no fees shall be paid to the Directors
-  That the auditor's fee shall be paid as per invoice

Against this background, Cardo's Nomination Committee has informed the
Company that it does not intend to give any proposals to the Annual
General Meeting as previously communicated.

Malmö, Sweden, March 16 2011

The Board of Cardo AB (publ)

For further information, please contact:
Maria Bergving, Senior Vice President Communications & Investor
Relations,
tel +46 10 4747 405, +46 70 602 61 81
Thomas Niklasson, Head of Investor and Public Relations, tel +46 10 4747
459, +46 70 277 99 50