Thule Prepared for Growth in North America and at SEMA

SEYMOUR, Conn., Oct. 20, 2006 -- Thule, the world leader in sports utility transportation, is poised for continued growth in North America with its new division structure of North American Car Accessories, North American Trailers, and North American Towing Systems. Following the acquisitions of Valley Industries and SportRack Accessories, Thule created the Towing Systems Division, which galvanizes the connection between Thule's Car Accessories and Trailer divisions. For the first time all three divisions will be showcased under the same roof at the upcoming Specialty Equipment Market Association (SEMA) Show in Las Vegas, NV, scheduled from October 31 through November 4, 2006.

"The North American market is very important to Thule, and we now have a complete portfolio of products that are linked from the front of the vehicle to the rear of the trailer for travelers to transport their gear safely, easily and in style," said Anders Pettersson, President and CEO of the Thule Group. "We are excited about the prospects for each division, as well as the programs they are unveiling at SEMA."

North American Car Accessories (SEMA Booth 30409)

Based in Seymour, CT, the North American Car Accessories division, which operates as Thule Inc., develops, manufactures and markets Thule load-carrying systems of roof racks, rooftop boxes, bike, ski, and watersport carriers. At SEMA, Thule is launching Thule Professional contractor grade rack systems. Designed for the demanding needs of trade professionals, the Professional line features a number of rack systems and accessories for transporting ladders, conduit, and building materials. Also, for the first time since its acquisition in September, the SportRack brand of carrying systems will be presented in the same booth as Thule.

North American Towing Systems (SEMA Booth 33213)

Upon completion of the acquisition of Brink International BV, Valley Industries and SportRack Accessories in September, Thule formed the North American Towing Systems Division. With Valley as its foundation, the North American Towing Systems Division develops, manufactures and markets towing systems and wiring kits. At SEMA, Thule will unveil the repositioning of the Valley brand, and will present a newly developed fifth wheel hitch as well as an upgraded brake control system.

North American Trailers (SEMA Booth 33213)

The North American Trailer division, which operates as Thule Trailers Inc., based in Winslow, ME, develops, manufactures and markets trailers for general transportation needs as well as for ATVs, snowmobiles, motorcycles, and automobiles. Thule Trailers introduced its Adventure Series line of galvanized steel trailers at last year's SEMA show. The line quickly gained popularity in the market for its durability, competitive pricing, and knockdown design that allows for easy shipping. Following its success, this year Thule Trailers is introducing an all-aluminum enclosed knockdown model at SEMA. Additionally, Thule Trailers will be displaying a larger range of its products than ever before at the show.

About Thule

Thule is the world leader within Sports Utility Transportation, delivering transportation solutions for active families, professionals and outdoor enthusiasts wanting to transport their equipment by vehicles safely, easily and in style. The product portfolio comprises load carriers for cars such as rooftop boxes, roof rails and bike carriers. Additionally, the company offers snow chains, towing systems, trailers as well as accessories for motor homes and caravans. Thule has approx. 3,700 employees at over 30 production and sales locations in all major car markets in North America, Europe, Africa and Asia. Pro forma sales (including Brink, Valley and SportRack) exceed US$ 710 million, with Thule's North American divisions' contributing over US$ 200 million. Thule AB is based in Malmo, Sweden, and majority owned by UK-based private equity firm Candover (http://www.candover.com/). More information is available at http://www.thule.com/.