Electrolux Indian Subsidiary Issues New Shares Mar 19, 2004

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As part of the ongoing changes within the Indian operation, appliance maker Electrolux Kelvinator Limited is inviting its shareholders to subscribe to new shares totaling approximately INR 2 billion (approx. U.S. $44 million).

AB Electrolux, the Sweden-based parent company, has stated its intention to subscribe proportionally and take up any unsubscribed part of the issue. AB Electrolux holds 76 percent of the shares in Electrolux Kelvinator Limited. The company is listed on Indian stock exchanges.

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