STOCKHOLM, Sweden, Aug. 22, 2002 (PRIMEZONE) -- Posten:
--Operating earnings for the six months ended June 30, 2002 were Skr 570 m (-253). The earnings improvement is attributable to the reversal of provisions previously made for future losses in the cashier network of Skr 916 m.
--The rollout of the new service network is proceeding according to plan. 55 of Posten's 91 local areas have implemented the new service network.
--The Swedish Parliament has increased subsidies for cashier service to Skr 400 m. The EU Commission found the government subsidies in compliance with EU regulations, facilitating the reversal of Skr 916 m in provisions.
--The alliance with La Poste/DPD is proceeding according to plan. La Poste has become a 50% partner in Posten's Polish subsidiary, Masterlink, which, in turn, has acquired the franchise rights to DPD (Direct Parcel Distribution) in Poland for the coming 15 years. Posten has also acquired the franchise rights to DPD in Estonia, Latvia and Lithuania for the coming five years.
Posten brings people together by delivering correspondence and merchandise promptly, reliably, securely, and cost-effectively. We create added value by combining traditional postal services with electronic Posten solutions, which can be integrated into our customers' businesses. Put simply, we are experts at everything between "From and To." Our primary market area encompasses the Nordic and Baltic regions.
With over 3,000 service outlets, we provide daily service to 4.1 million households and 500,000 businesses. Every day we handle close to 20 million pieces of mail. With sales of approximately SEK 24,5 billion and roughly 40,000 employees, the group is one of the largest in Sweden. The group's parent, Posten AB (publ), is wholly owned by the Swedish state. For more information, please visit our Web site at www.posten.se.
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