Investor Relations
Corporate Governance
Metro International S.A. is a Luxembourg limited-liability company
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TIMETABLE FOR RIGHTS ISSUE
18 June 2003
Each eligible holder of Metro Swedish Depositary Receipts ("SDRs") will be offered the opportunity to subscribe for one new series A SDR for each existing SDR held, regardless of series, at a price of SEK 2.30 per SDR.
| 14 July 2003 | Last day of trading in Metro SDRs including subscription rights |
| 15 July 2003 | First day of trading in Metro SDRs excluding subscription rights |
| 17 July 2003 | Record date for receipt of subscription rights |
| 21 July 2003 | Distribution of prospectus to SDR holders |
| 24 July 2003 | Announcement of results for period ended 30 June 2003 |
| 21 July - 8 August 2003 | Subscription period |
| 21 July - 5 August 2003 | Trading in subscription rights on Stockholmsbörsen |
| End of August 2003 | New Series A SDRs issued to shareholders |
NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN
Metro will issue rights to holders of its SDRs to subscribe for new series A SDRs, except those domiciled in the United States of America, Canada and Japan, who will receive a cash payment equivalent to the amount that will be realised from the sale of their tradable subscription rights.
In the event that the issue is not fully subscribed based on subscription rights, current SDR holders will be able to subscribe for the remaining SDRs according to their pro-rata holding of SDRs. The rights issue will be fully underwritten by Industriförvaltnings AB Kinnevik ("Kinnevik"), which is Metro's largest shareholder and creditor. Kinnevik has also indicated that it intends to take up its rights in the offering based on its current shareholding in Metro.
Morgan Stanley has been appointed as Adviser on the structuring of the refinancing and Carnegie has been appointed as Manager of the rights issue.
For further information, please visit www.metro.lu, email info@metro.lu or contact:
| Pelle Törnberg, President & CEO | tel: +44 (0) 20 7016 1300 |
| Matthew Hooper, Investor & Press Relations | tel: +44 (0) 20 7321 5010 |
NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN
THESE MATERIALS ARE NOT AN OFFER FOR SALE OF THE SHARES IN THE UNITED STATES. THE SHARES MAY NOT BE SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. METRO INTERNATIONAL S.A. DOES NOT INTEND TO REGISTER ANY PORTION OF THE OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SHARES IN THE UNITED STATES.