Esselte sells DYMO to Newell

August 01, 2005

Strengthens Focus on Office and Craft Categories

Stamford, Conn., USA, July 28, 2005 – Esselte Group Holdings AB (publ) announced today it has reached a definitive agreement to sell its DYMO division, a global leader in designing, manufacturing and marketing on-demand labeling solutions, to Newell Rubbermaid (NYSE:NWL) for approximately $730 million in cash. The acquisition which is expected to close by year-end is subject to applicable regulatory approvals and other customary closing conditions.

Through its well-known product lines including LabelWriter®, LabelManager®, LetraTAG® and RhinoPro®, DYMO has built a leadership position in consumer, office and industrial channels in North America, Europe and Australia, supported by innovative, patented new products and broad distribution. DYMO offers a comprehensive range of manual and electronic labelmakers, PC and Macintosh connected label printers and related consumables for all products. DYMO, headquartered in Stamford, CT, generated global net sales of approximately $225 million in 2004.

“Over the last three years we have invested heavily in DYMO to substantially build the business. Today’s announcement is a confirmation of our success in this effort”, said Magnus Nicolin, chief executive officer of Esselte.

Joe Galli, chief executive officer of Newell Rubbermaid, said, “The combination of DYMO and our writing instruments and office products business represents a significant opportunity given the complementary nature of the product lines, distribution networks and geographies. This is an excellent example of our commitment to transform our portfolio into a focused group of leadership platforms through investment in high-quality brands with a proven track record of bringing innovative new products to the category.”

Office Products Group President, Steve Marton added, “We are excited about the opportunity to add DYMO to our leadership portfolio of branded writing instruments and office products. The talented team at DYMO has done a tremendous job developing category-leading products and technologies. By leveraging this portfolio and our strong distribution capabilities, we believe we can maximize this compelling growth opportunity.”

Phil Damiano, the current president of DYMO, will remain with the organization and lead this strategic business unit within Newell Rubbermaid’s Office Products Group.

Mr. Damiano said, “DYMO has an impressive track-record of growth. The combined strengths of DYMO and Newell Rubbermaid in the consumer, office and industrial channels will allow us to build on this success.”

Newell Rubbermaid’s Office Products Group accounted for $1.7 billion of the company’s $6.6 billion in sales in 2004. The group manufactures and markets writing instruments, art products and office organization supplies, led by a powerful brand family including Sharpie®, Paper Mate®, Parker®, Waterman®, EXPO®, uni-ball®, and Rolodex®.

Esselte plans to use the proceeds of this transaction to substantially repay all of its current outstanding debt. In that connection, Esselte plans on the closing date to call for redemption of its then outstanding 7.625% senior notes due in 2011, in accordance with Article III of the note indenture.

Esselte will focus its energies on supporting its global filing and organization business which consists of Pendaflex and Oxford in the U.S. and Esselte and Leitz throughout the rest of the world. Additionally, it is expected that Esselte will devote increasingly more resources to building its creative division which is made up of the Xyron craft and hobby business. The crafting industry has been rapidly growing for the past four years. Esselte sees this business as its next growth engine.

“We have a significant number of innovative new products set to debut in the second half of 2005 and the first half of 2006,” stated Nicolin. “With the opportunity to accelerate innovation further and with renewed focus on our core business of organizational solutions and craft products, I am excited about our prospects.”

Caution Concerning Forward-Looking Statements

The statements in this press release that are not historical in nature constitute forward-looking statements. These forward-looking statements relate to information or assumptions about the impact of the acquisition on earnings, internal sales, income/(loss), earnings per share, capital expenditures, cash flow, dividends, restructuring, impairment and other charges, potential losses on divestiture, costs and cost savings and management’s plans, projections and objectives for future operations and performance. Actual results could differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, our dependence on the strength of retail economies in various parts of the world; competition with numerous other manufacturers and distributors of consumer products; major retailers’ strong bargaining power; changes in the prices of raw materials used by the company; our ability to develop innovative new products and to develop, maintain and strengthen our end-user brands; our ability to improve productivity and streamline operations; our ability to integrate previously acquired businesses; the risks inherent in our foreign operations and those factors listed in the company’s first quarter 2005 Form 10-Q, including Exhibit 99.1 thereto, filed with the Securities and Exchange Commission.

About Esselte

Esselte, whose registered office is in Solna, Sweden, and whose executive office is in Stamford, Conn., USA, is a leading global office supplies manufacturer with 2004 annual sales of approximately $1.2 billion, operations in 33 countries (including Hong Kong) and approximately 5,600 employees worldwide. The Company develops, manufactures and sells products that simplify the modern home and workplace. Esselte sells more than 20,000 different office product SKUs in over 120 countries; its principal brands include DYMO, Esselte, Leitz, Pendaflex and Xyron. For more information about the company please visit www.esselte.com.

About Newell Rubbermaid

Newell Rubbermaid Inc. is a global marketer of consumer and commercial products with 2004 sales of $6.6 billion and a powerful brand family including Sharpie®, Paper Mate®, Parker®, Waterman®, Rubbermaid®, Calphalon®, Little Tikes®, Graco®, Levolor®, BernzOmatic®, Vise-Grip®, IRWIN® and Lenox®. The company is headquartered in Atlanta, Ga., and has over 31,000 employees worldwide.

This press release and additional financial information about the company is available on the company’s web site at www.newellrubbermaid.com.

For more information about DYMO please visit www.DYMO.com.

Contact: Chris Curran

+1 (203) 355-9022 ccurran@esselte.com