Jørgen Jensen new President and CEO for Nilfisk-Advance

Nilfisk-Advance President and CEO Johan Molin has accepted the post as President and CEO of the Swedish Assa Abloy group, which manufactures and supplies locking systems to the global market. As a result, Executive Vice President Jørgen Jensen has been appointed as the company's new President and CEO, and the Management Group of Nilfisk-Advance will be supplemented by Anders Terkildsen who becomes Executive Vice President responsible for European Sales. Johan Molin will join the Board of Directors of Nilfisk-Advance A/S.

The managerial changes take effect on 1 December 2005. From that date the Management of Nilfisk-Advance will consist of President and CEO Jørgen Jensen, Christian Cornelius-Knudsen, Claus Michelsen and Anders Terkildsen. The appointments will necessitate the implementation of minor organisational changes within the areas of responsibility previously administered by Jørgen Jensen (production and logistics).

The new President and CEO Jørgen Jensen has been with Nilfisk-Advance since 1998 – first as Executive Assistant and from 2000 as Executive Vice President with responsibility for development, production and logistics.

In 2002, Jørgen Jensen joined the Management where he has fully documented both professional and personal competences that qualify him for the position of President and CEO of Nilfisk-Advance.

Jørgen Jensen (37) holds an MSc degree in Economics from the University of Aarhus. Prior to joining Nilfisk-Advance his professional career embraced two years with A.P. Møller and four years as a consultant with McKinsey & Co.

As a member of the Group Management of Nilfisk-Advance, and working together with his Danish and international colleagues, Jørgen Jensen has been an important driving force in the realisation of Nilfisk-Advance's structural reorganisation and expansion strategy.

With the appointment of Jørgen Jensen as President and CEO we are ensuring valuable managerial continuity that is capable of maintaining Nilfisk-Advance's current development as world leading manufacturer of professional cleaning equipment.

The new Executive Vice President Anders Terkildsen has been with Nilfisk-Advance since 1998. In the role of General Manager he has been the driving force in the development of Nilfisk-Advance's European organisation – and he has also assisted in the establishment of new Nilfisk-Advance sales subsidiaries in Eastern Europe.

Anders Terkildsen (42) holds an MBA degree from the University of San Francisco. He began his professional career with the industrial company Hardi International, and after being stationed in South Africa and France and studying in the United States, he spent a number of years with the Incentive Group.

Anders Terkildsen thus possesses broad expertise in international commerce.

Outgoing President and CEO Johan Molin joined Nilfisk-Advance in 2001. He was strongly focused initially on streamlining the company's internal business systems, and subsequently on modernising and expanding Nilfisk-Advance's product programme. Most recently his attention has been concentrated on the organisation's market expansion, which among other things resulted in the acquisition of ALTO in 2004. Under the management of Johan Molin, Nilfisk-Advance has developed into a global market leader and a well-run company.

The Management and Directors of NKT Holding and the Directors of Nilfisk-Advance thank Johan Molin for his valuable efforts on the company's behalf and for agreeing - for a transitional period - to continue his involvement with the company at Board of Directors level. We wish Johan Molin good luck with his new post.