Hakon Invest announces mandatory offer for Hemtex AB (publ)

As previously announced on April 24, 2009, Hakon Invest AB ("Hakon
Invest") has acquired 2,394,000 shares in Hemtex AB ("Hemtex"),
corresponding to 8.2 per cent of shares and votes in Hemtex and
thereafter owns 34.6 per cent of the shares and votes in Hemtex. As a
consequence hereof, Hakon Invest is announcing a cash offer (the"Offer") to the other shareholders in Hemtex in compliance with
Swedish rules for mandatory offers. Hemtex is listed on NASDAQ OMX
Stockholm ("NASDAQ OMX") in the segment Mid Cap.

*  Hakon Invest is offering SEK 23 cash per share together with an
  add-on premium of SEK 4 per share which will be payable if Hakon
  Invest in the Offer reaches a shareholding exceeding 50% of the
  shares and votes in Hemtex.

*  The cash consideration of SEK 23 per share offered represents a
  premium of 22.0 per cent on the volume-weighted average share price
  during the 30 business days before April 24 when Hakon Invest came
  into mandatory bid position. Compared with the volume-weighted
  average share price during the period January 1- April 23 2009 the
  consideration represents a bid premium of 34.9 per cent. Based on
  the closing price on 23 April, 2009, the last trading day before
  Hakon Invest came into mandatory bid position, the premium is 2.2
  per cent.

*  The cash consideration of SEK 27 per share (which includes the
  add-on premium) represents a premium of 43.3 per cent on the
  volume-weighted average share price during the 30 business days
  before April 24 when Hakon Invest came into mandatory bid position.
  Compared with the volume-weighted average share price during the
  period January 1- April 23, 2009, it represents a bid premium of
  58.3 percent. Based on the closing price on April 23, 2009, last
  trading day before Hakon Invest came into mandatory bid position,
  the premium is 20.0 per cent.

*  The Offer Document is expected to be published on May 26, 2009.
  The acceptance period is expected to be running during the period
  May 28-June 22, 2009. The settlement date is expected to be
  completed on or about June 29, 2009."Hakon Invest is a long-term and active owner in Hemtex. We have
  faith in Hemtex's potential to continue to grow in a positive
  direction with long-term improvements to sales and earnings. There
  are current measures on-going within Hemtex in order to improve
  profitability and customer offering. The weakened economic
  situation means that we do not expect any significant improvements
  in the short term", says Claes-Göran Sylvén, CEO of Hakon Invest."Hakon Invest has increased its ownership in Hemtex and thus
  exceeded the level of 30 per cent which means we have to make a bid
  for the remaining shares in Hemtex. In light of the recent share
  price development of Hemtex we believe that our offer is
  competitive. We want to increase our ownership in Hemtex, but
  whatever the outcome in this offer, we will remain as a  long-term
  and responsible owner in Hemtex", Claes-Göran Sylvén continues.

  For more information, contact:

  CEO
  Claes-Göran Sylvén
  tel +46-8-55 33 99 66

  SVP Investments & Portfolio Companies
  Stein Petter Ski
  tel +46-8-55 33 99 44

  IR Manager
  Pernilla Grennfelt
  tel +46-8-55 33 99 55

  Hakon Invest, which is listed on the Nasdaq OMX Stockholm, conducts
  active and long-term investment operations in retail-oriented
  companies in the Nordic region. Hakon Invest owns 40% of ICA AB,
  the Nordic region's leading retail company with a focus on food.
  The portfolio also includes shares in Forma Publishing Group, Kjell& Company, Hemma, Cervera, inkClub and Hemtex. Further information
  about Hakon Invest is available at www.hakoninvest.se.