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SAS Group prepares for IPO of Rezidor SAS Hospitality

June 22, 2006 15:30

SAS Group today announces its intention to prepare for a listing of its hotels business, Rezidor SAS Hospitality (“Rezidor SAS”), through an initial public offering (the “IPO”) on the Stockholm Stock Exchange. The listing of Rezidor’s shares is expected to take place within the next twelve months, subject to market conditions.

While Rezidor SAS has continued to perform well, SAS Group’s intention to list the company is in line with its previously stated strategy to focus on its core airline activities. The listing will allow the SAS Group to exit from its hotel business, continuing the process initiated last year when Carlson Hotels Worldwide acquired a 25% stake from the SAS Group. Carlson Hotels Worldwide has declared its interest to remain a significant shareholder. The IPO would provide Rezidor SAS with increased flexibility and favourably position the company for the next phase in its development.

Rezidor SAS is one of the fastest growing hospitality companies in the world and currently has 279 hotels, encompassing over 56,000 rooms, in operation and under development in 50 countries.

UBS Investment Bank has been appointed as global co-ordinator.

For further information
Hans Ollongren, SVP Corporate Communication & Public Affairs, +46 70 997 1950
Sture Stølen, VP Head of Investor Relations, +46 70 997 1451

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The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan. The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States or to conduct a public offering of Shares in the United States.

The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This document does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be registered in the United Kingdom in respect of the securities, and consequently the securities must not be sold or offered for sale in the United Kingdom, except to persons whose ordinary activities involve them in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of their business or whom it is reasonable to suppose will acquire, hold, manage or dispose of investments (as principal or agent) for the purposes of their business.

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