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Report from Generic Sweden AB's Annual General Meeting on May 12, 2011

May 13, 2011

Generic Sweden AB held its Annual General Meeting on May 12, 2011. On all proposed matters, the meeting resolved in accordance with the proposals of the Nomination Committee and the Board of Directors, respectively. The meeting was chaired by attorney Erik Gabrielsson, and the following is a summary of the main points of the most important resolutions:

–       the 2010 annual report was approved,

–       the members of the Board of Directors and the CEO were granted discharge from liability for the 2010 fiscal year,

–       the Chairman of the Board was granted a fee of 150,000 SEK, and the other non-employee members of the company’s Board were each granted a fee of 75,000 SEK,

–        For the period until the 2012 Annual General Meeting, the following individuals were appointed as members of the Board of Directors:

Hans Krantz (re-election)

Fredrik Svedberg (re-elected)

Peter Ragnarsson (re-elected)

Kent-Åke Jönsson (re-elected)

Erik Gabrielsson (re-elected)

–       PricewaterhouseCoopers AB was appointed as the company’s auditor, with Magnus Brändström serving as the lead auditor,

–       the Chairman of the Board was tasked with convening, based on the ownership structure as of the end of September 2011, a nomination committee consisting of one representative from each of the company’s three largest shareholders,

–       The Board’s proposal in the notice of meeting regarding the guidelines for compensation to senior executives was approved.

–       The Board’s proposal in the notice regarding an amendment to Article 8 of the Articles of Incorporation, Notice of the Annual General Meeting, was approved.

In his speech, the company's CEO, Fredrik Svedberg, discussed the company's positive performance and commented on its interim report for the first quarter of 2011.

Hans Krantz, Chairman of the Board

Fredrik Svedberg, President & CEO

Phone: 08-601 38 00 Email: fredrik.svedberg@generic.se

This is Generic Generic Sweden AB operates consulting and telecommunications businesses focused on critical communications in areas where extremely high reliability is required. The consulting business provides services and solutions for command and communication systems to the defense sector, government agencies, and industry. The telecommunications division is a specialized telecom operator that operates its own radio network and offers messaging services for critical situations under the Minicall and Messit brands. The group has revenue of SEK 150 million and approximately 90 employees. The stock is traded on NASDAQ OMX First North Premier under the ticker symbol GENI. Additional information about the company is available at www.generic.se 

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