Letter of Intent to create Sweden's largest educational company

Letter of Intent to create Sweden's largest educational company

Bure Equity AB (publ) (“Bure”) and AcadeMedia AB (publ) (“Academedia”) have
signed a Letter of Intent for the merger of AcadeMedia and Bure-owned Anew
Learning AB (“Anew Learning”). The two companies are already part of the same
structure in that Bure controls 49.8% of the votes in AcadeMedia. The planned
merger will create Sweden's largest educational company.

“It is highly satisfying that we are now realising our strategy to create
Sweden's largest listed education company. The merger between Anew Learning and
AcadeMedia will provide excellent conditions to continue driving and stimulating
our pedagogical development while at the same time optimising both quality and
efficiency in operations, thereby creating value for our pupils, employees and
shareholders,” says Martin Henricson, CEO of Bure Equity.
“The new AcadeMedia will be an education company with operations covering the
entire span from preschool to high school and we are convinced that this is the
right time to take this step. We are in the midst of an exciting development
phase offering many opportunities for continued growth,” says Marcus Strömberg,
CEO of AcadeMedia.
Bure currently controls 49.8% of the votes and 38.3% of the share capital in
AcadeMedia. The transaction is planned to take place this autumn and will be
effected through AcadeMedia's acquisition of all shares in Anew Learning from
Bure. The purchase price is estimated at around SEK 818 1) million, of which SEK
225 million is intended to be paid in cash and SEK 6.31 million in newly issued
class B shares in AcadeMedia. AcadeMedia will also compensate Bure for Anew
Learning's net cash surplus and tax loss carryforwards. AcadeMedia intends to
finance the cash portion of the purchase price through bank loans.
Once the transaction is completed, Bure's Board of Directors will call an
extraordinary general meeting at which Bure's shareholders are proposed to
resolve on the distribution of the newly issued AcadeMedia shares together with
Bure's other AcadeMedia shares to their shareholders. This is expected to
considerably increase the liquidity of the AcadeMedia share and give the company
an attractive ownership base of more than 19,000 private investors and several
institutional investors.

The merged company will be called AcadeMedia AB (publ). Marcus Strömberg,
AcadeMedia's incumbent CEO, will be CEO of the merged company. Head office will
be placed in Stockholm. The brands currently found in AcadeMedia and Anew
Learning will remain within the company.

The planned merger will strengthen the pedagogical diversity and create good
scope for both revenue and cost synergies.

Holders of shares corresponding to 87.0% of the share capital and 91.6% of the
votes in AcadeMedia, as well as 42.9% of the share capital and vote in Bure,
support the planned merger and intend to vote in favour of the Board's proposal
at the upcoming extraordinary general meetings.  

“Both AcadeMedia and Anew Learning have longstanding experience in the
educational industry and these are two very successful and well managed
businesses that are now joining forces. We will preserve and foster the
strengths of both entities and look forward to the opportunity to build the new
AcadeMedia into something even stronger and better. It will be an exciting
company to both hold shares in and work for,” says Marcus Strömberg
The intention is for the non-binding Letter of Intent to lead to a definite
agreement for sale in September 2008, conditional on completion of due diligence
procedures and the ability to secure financing. Among other things, the actual
transaction is expected to be conditional on obtaining the necessary approvals
from the relevant authorities, the decision of AcadeMedia's extraordinary
general meeting in favour of a bonus issue and a decision by Bure's Board of
Directors to call an extraordinary general meeting to resolve on the
distribution of Bure's shares in AcadeMedia. The formal merger and extraordinary
general meetings in AcadeMedia and Bure are expected to take place in the fourth
quarter of 2008. 

Financial calendar
12 August 2008: AcadeMedia interim report January - June 2008
27 August 2008: Bure / Anew Learning interim report January - June 2008 

Financial adviser
Lenner & Partners is financial adviser and Cederquist is legal adviser to
AcadeMedia. Access Partners is financial adviser and Advokatfirman Vinge is
legal adviser to Bure.

About the companies
AcadeMedia is one of Sweden's leading private education companies and caters to
both the private and public sectors, with a focus on high school education,
qualified vocational training and adult education. The company's educational
programmes are based on modern pedagogical methods and technology, which
contributes to the learning, development and competitiveness of its customers
and pupils. AcadeMedia has operations at over 30 locations in Sweden, under well
established and respected brands such as NTI-skolan, NTI-gymnasiet, Mikael Elias
Teoretiska Gymnasium, Ljud & Bildskolan, Drottning Blankas Gymnasium, AcadeMedia
Eductus and AcadeMedia Learning Consulting. AcadeMedia is listed on the Small
Caps list of the Nordic Exchange Stockholm. www.academedia.se

Anew Learning is one of Sweden's leading operators of independent preschools,
compulsory schools and high schools, with roots extending back to the
independent school reform in 1992. For more than 15 years the company has built
up a solid infrastructure and invaluable knowledge about operating schools of
the highest quality. At present, Anew Learning has 52 schools with more than
13,000 pupils. Anew Learning conducts operations under strong and well known
brands, and is made up of Vittra, IT-Gymnasiet, Framtidsgymnasiet, Fenestra,
Didaktus and Rytmus. www.anewlearning.se

	                                      AcadeMedia		       Anew Learning
Income statement (SEK M)	           Full year 2007Q1 2008 Full year 2007 Q1 2008
Net sales	                                    489	142		841	260
Profit before depreciation and amortisation 	51	17		91	32
Profit after depreciation and amortisation	44	14		70	26
Net profit	                            27	8		51	20
Total assets	                           561	546		418	396
Equity	                                    254	262		175	196
Net loan debt (-) / receivable (+)	        -124	-122		70	71
Average number of employees	                  561	557		1,099	1,180


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1)  Based on the AcadeMedia share's last price paid of SEK 94.00 on 1 August
2008.



For more information contact:
Anders Nilsson, Chairman AcadeMedia, tel. +46 70-666 19 15
Marcus Strömberg, CEO AcadeMedia, tel. +46 70 - 440 40 64
Patrik Tigerschiöld, Chairman Bure Equity, tel. +46 70 - 777 71 90
Martin Henricsson, CEO Bure Equity and Chairman Anew Learning, tel. +46 70 - 995
08 73


__________________________________________________________________

The information contained herein is subject to the disclosure requirements of
Bure Equity AB under the Swedish Securities Market Act. This information has
been publicly communicated on 7 August, 2008, at 08.30 CET.
__________________________________________________________________

Bure Equity AB (publ), corp. ID No. 556454-8781
P O Box 5419, SE-402 29 Gothenburg
Phone +46 31 708 64 00, Fax +46 31 708 64 80
www.bure.se