Thule's Successes Recognized by The Swedish-American Chamber of Commerce and The Swedish Trade Council

SEYMOUR, Conn., March 13 -- Thule, world leading manufacturer of car rack systems, has been awarded with the Achievement Award 2003 for Corporate Excellence in the "Most Sustained Successful Presence in the U.S. Market" category by the Swedish-American Chamber of Commerce in New York and the Swedish Trade Council in Stockholm. The Achievement Award will be presented in the presence of Her Royal Highness Princess Victoria in conjunction with a gala banquet in New York on March 28.

"All the credit for this prestigious award goes to the Thule U.S. team for its hard work in developing great products and delivering excellent customer service," said Fred Clark, President and CEO, Thule Inc. "By listening to our customers, paying attention to market demands, and following our long-standing Swedish principles of quality, style and performance, we have built a reputation that we are extremely proud of."

"We are pleased and proud to have been selected to receive this Award, which we regard as acknowledgment of the intensive work underlying Thule Inc.'s growth from a marginal player to market leader with a more than 40- percent share of the US market," says Anders Pettersson, President and CEO of the Thule Group.

Over the past 20 years, Thule has provided sportsmen and families alike with innovative gear carrying products and has built a unique brand name in the U.S. Today, Thule has facilities in Connecticut, Chicago, and Denver with products sold in over 6000 retail outlets nationwide.

Thule, Inc., is a wholly owned subsidiary of Thule Group, which is owned by the Swedish investment company EQT. Founded in 1942, Thule develops, manufactures, and markets load carrier systems for vehicle owners worldwide. Thule is the only major US manufacturer of car rack products, with 90 percent of Thule US products produced in the company's Seymour, Connecticut and Chicago, Illinois facilities. Thule's product line features multi-purpose roof racks, roof top boxes, rear mount racks, and accessories for outdoor equipment including bikes, skis, snowboards, kayaks, canoes, and surfboards. For more information visit www.thuleracks.com.