Conversion of shares

According to Industrivärden's articles of association, owners of Class A shares
have the right to have such shares converted to Class C shares.

When such a conversion has occurred, the company is obligated by law to
disclose any such changes in this manner.

In November, at the request of shareholders, 9,984 Class A shares were
converted to Class C shares.

The total number of votes in the company thereafter amounts to
280,304,698.40.The total number of registered shares in the company amounts to
386,271,224, of which 268,530,640 are Class A shares and 117,740,584 are Class
C shares.



Stockholm, Sweden, November 30, 2011

AB INDUSTRIVÄRDEN (publ)

For further information, please contact:

Sverker Sivall, Head of Corporate Communication, Industrivärden, tel. +46-8-666
64 00



The information provided herein is such that AB Industrivärden (publ) is
obligated to disclose pursuant to the Securities Market Act (SFS 2007:528)
and/or the Financial Instruments Trading Act (SFS 1991:980). Submitted for
publication at 01:40 p.m. on November 30, 2011.