Axfood is the new name of the parent company of the grocery trade group, made up by Hemkop, D&D and SPAR Sweden and SPAR Finland. This was decided at Hemkop's annual general meeting today. The change of name is an important step in the creation of one of the largest listed Nordic grocery trade groups.

The group will enable both increased efficiency and better supply and service to consumers.

"With a mutual name, we will become more competitive and clear," said Mats Jansson, President and CEO of Axfood AB. "The name will work as an overall name and represent all different store concepts within the group - everything from high service concepts to low price. We stated this important requirement prior to the choice of a new name. Axfood will support and compliment our different chains. The name also creates flexibility for future structural changes and Nordic expansion."

The new name enables even better adaptation to different customer need and clear positioning of the different chains. Fundamental for all store profiles within Axfood is to offer quality in each respective segment. Quality at any price will therefore be the motto for Axfood in the future.

"Within the new group we are looking forward to work under the new name," said Hakan Matz, President of Hemkop AB.

A picture of Axfood's new logotype can be obtained from www.hemkop.se

Axfood AB will be one of the largest listed grocery trade groups in the Nordic region. The group runs wholesale and retail trades in a number of store profiles, such as Hemkop, SPAR, Vivo, Tempo, Willys och Billhalls.

Consolidated annual turnover is estimated at about SEK 30 billion. The number of full-time employees is about 7,000.

The group includes more than 1,000 stores in Sweden, of which 250 are wholly or partly owned, and independent dealers, that are tied to the group by agreements, run the others. The group also includes about 330 stores in Finland, of which 85 are wholly owned, and independent dealers run the others. The market share in Sweden is about 20 per cent, and about 10 per cent in Finland.

The group is listed on the OM Stockholm Stock Exchange's A list. With 47 per cent of the shares, Axel Johnson AB is the principal owner.

Axfood AB Box 26081 SE-100 41 Stockholm Telephone +46 8 700 66 30 Fax +46 8 700 66 42