Ericsson announces the close of its Bond Exchange Offer

Telefonaktiebolaget LM Ericsson today announced the successful
completion of its Bond Exchange Offer.

The Ericsson Bond Exchange Offer, announced on November 4, 2003,
closed at 11.00 a.m. (London) today. The transaction was well
received by the bond market, raising total acceptances of
�433,818,000. Participants in the Bond Exchange Offer have
exchanged their existing holdings in the Ericsson 6.375% Euro Medium
Term Notes maturing May 31, 2006 (the "Notes") for a new seven-year
bond, which is callable after 4 years.

The new bond will pay a coupon of 6.75% and was priced to yield 285
bps (annually) over the DBR 5.25% maturing January 4, 2011. Holders
of the Notes were offered new bonds at a ratio of 1:1.0855. This
ratio generates a principal size of �470,856,000 for the new
6.75% notes maturing November 28, 2010 (net of bond rounding amounts,
to be paid in cash).

The Bond Exchange Offer has significantly extended Ericsson's debt
maturity profile and has allowed Ericsson to take advantage of
excellent credit and interest rate market conditions without raising
additional cash.

"We are very pleased with the outcome of the Bond Exchange Offer,"
said Vidar Mohammar, Ericsson Corporate Treasurer. "The offer has
achieved excellent financing terms for Ericsson and increased our
financial flexibility."

The Ericsson exchange offer settles on November 28, 2003.
Participants will receive their allocations of new bonds plus accrued
interest and any rounding amounts in cash. The offer was open only to
professional investors.

This press release is not for publication or distribution in whole or
in part, directly or indirectly, in or into the United States. This
notice is intended to be communicated only to creditors of Ericsson
and relates only to the Ericsson Securities and the Ericsson Exchange
Securities.

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/press

FOR FURTHER INFORMATION, PLEASE CONTACT

Lotta Lundin, Ericsson Investor Relations
Phone: +46 8 719 6553, +46 730 371 100
E-mail: lotta.lundin@ericsson.com

James Borup, Ericsson Communication
Phone: +46 8 719 0952, +46 8 719 69 92
E-mail: james.borup@ericsson.com

Dealer Manager: J.P. Morgan Securities Ltd.
Paul Hawker - Liability Management Desk
Phone: +4420 7777 4185
E-mail: paul.hawker@jpmorgan.com

The communication of this document is not being made and the document
has not been approved by an authorized person for the purposes of S21
of the Financial Services Act 2000.  The Exchange Offer is open only
to those persons falling within the definition of Investment
Professionals (as defined in article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotions) Order 2001 (the "Order"),
and those persons who also fall within Article 43 of the Order.

This press release is not being issued in the United States of
America, Australia, Canada or Japan and should not be distributed to
US persons or publications with a general circulation in the United
States.  This document does not constitute an offer or invitation to
subscribe for or purchase any of the securities referred to herein.
In addition, the securities referred to herein have not been
registered under the United States Securities Act of 1933, as amended
and may not be offered, sold or delivered within the United States or
to or for the account or benefit of US persons absent registration
under, or an applicable exemption from, the registration requirements
of the United States Securities Act.



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