AB Electrolux
Toshiba Corporation

May 10, 2001 Tokyo-- AB Electrolux of Sweden and Toshiba Corporation today announced a new series of home appliances that will bring European design values to the Japanese market under the brand name 'Electrolux by Toshiba'. The launch of the new series is based on the May 1999 alliance between the two companies to expand sales in Japan.

Toshiba will launch the series throughout Japan in June this year, starting a phased rollout that will eventually cover ten categories of appliances. All 'Electrolux by Toshiba' products will express the design concept of 'Real Modern' and bring the latest in European design into the Japanese home. Products in the series will be selected by Toshiba from the Electrolux catalogue or expressly designed by Electrolux and manufactured by Toshiba. Toshiba will support them with its present sales and services channels.

"Electrolux by Toshiba" will launch its first products at the end of June 2001. The full line-up will include refrigerators, freezers, toasters, vacuum cleaners and a variety of kitchen equipment. Toshiba forecasts that the series will achieve sales of 15 billion yen in FY2003.

Product line-up

*All products are open priced.

Electrolux is the world's largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chain saws, lawn mowers, and garden tractors. In 2000, Group sales were SEK 125 billion and the Group had 91,000 employees. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use. The Electrolux Group includes famous appliance brands such as Electrolux, AEG, Zanussi, Frigidaire, Eureka, and Husqvarna.

Toshiba Corporation is a leader in information and communications systems, electronic components, consumer products, and power systems. The company's integration of these wide-ranging capabilities assures its position as an innovator in multimedia components, products and systems. Toshiba has 190,000 employees worldwide, and annual sales of US$50 billion.

Contacts

For further information from AB Electrolux, please contact Gustaf Uggla, at +46-8-738 6271, or by e-mail at gustaf.uggla@electrolux.se. Electrolux home page: http://www.electrolux.se

For further information from Toshiba, please contact Yumiko Kokubu, Corporate Communications Office at +81-3-3457-2105, or by e-mail at press@toshiba.co.jp

For more information about Toshiba Corporation see http://www.toshiba.co.jp