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Securitas enters co-operation with Caixa de Cataluña in Spain

17 March 1998 10:00

Securitas has signed a co-operation agreement with the second largest Catalonian savings bank, Caixa de Cataluña, which also includes the acquisition of Segurcat SA. After this co-operation agreement Securitas becomes the largest security company in Catalonia, with a total annual sales of approximately MSEK 310.
The co-operation contains three parts:

- Securitas will take care of all the bank`s security services over the coming five years. The agreement guarantees annual sales of at least MSEK 55 in Guarding, Alarm and Cash-in-Transit. The agreement also includes 3,000 alarm connections in a special monitoring centre.

- The main part of the security services to Caixa de Cataluña is today provided by an in-house security company of the Group of Caixa de Cataluña - Segurcat SA. This company with yearly sales of approximately MSEK 45 and profits before tax of 7 percent, is acquired by Securitas.

- Securitas and the Group Caixa de Cataluña will co-operate on development of new services that combines the strength of the two partners, for example the combination of insurance, which is a part of the activities of Caixa de Cataluña, and the home and small alarm business of Securitas.

After this agreement Securitas becomes the largest security company in Catalonia with total annual sales of approximately MSEK 310. Especially in the alarm field Securitas takes a leading role both as an installer and as a monitoring supervisor in Catalonia. Total sales of Securitas Spain, after this transaction, are estimated to more than MSEK 1,400 in 1998.

The purchase price for the Segurcat SA is MSEK 50. One consequence of the transaction is that goodwill in Securitas` consolidated balance sheet will increase by approximately MSEK 39. The acquisition and the co-operation will contribute positively to the Group`s result in 1998.
Further information can be obtained from Thomas Berglund, President and CEO, Håkan Winberg, Executive Vice President and CFO, and Camilla Weiner, Investor Relations Manager, telephone +46 8 657 74 00.

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