SOURCE: Ericsson

April 23, 2007 02:30 ET

Ericsson completes the voluntary public cash offer for Tandberg Television

STOCKHOLM, SWEDEN -- (MARKET WIRE) -- April 23, 2007 --



Ericsson (NASDAQ: ERIC) has received favorable rulings from the relevant competition authorities to acquire all outstanding shares in Tandberg Television (OSE: TAT). Furthermore, no material adverse change has occurred. Consequently, all conditions in the terms and conditions set out in the offer document, dated February 26, 2007, have been met and Ericsson will complete the offer in accordance with the offer document.

Settlement for the shares submitted in the voluntary public cash offer is expected to take place on or about April 25, 2007. As soon as possible following settlement, Ericsson will proceed with a mandatory offer for the remaining shares in Tandberg Television as required under chapter four of the Norwegian Securities Trading Act.

In parallel, Ericsson plans to initiate a compulsory acquisition of the remaining shares in Tandberg Television in accordance with paragraph 4:25 of the Norwegian Public Limited Companies Act. Such compulsory acquisition of shares is expected to take effect soon after the announcement of the mandatory offer. In addition, Ericsson intends to arrange for a delisting of the Tandberg Television share from the Oslo Stock Exchange. Such delisting will likely take effect soon after settlement of the mandatory offer.

Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.

Read more at: http://www.ericsson.com

FOR FURTHER INFORMATION, PLEASE CONTACT

Ericsson Media Relations
Phone: +46 8 719 6992
E-mail: press.relations@ericsson.com

Ericsson Investor Relations
Phone: +46 8 719 4631
E-mail: investor.relations.se@ericsson.com




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