Ericsson Racing Team (STO:ERIC) ERICSSON RACING TEAM'S NORDIC CREW FINISH IN THIRD PLACE

Ericsson Racing Team (STO:ERIC) COCHIN, India (Dec. 1, 2008) - Ericsson Racing Team's two yachts in the Volvo Ocean Race placed in the top three on Leg 2 when Ericsson 3, skippered by Sweden's Anders Lewander, finished third this afternoon at 1300 local, 0736 GMT.

The Nordic crew completed Leg 2, 4,450 nautical miles from Cape Town, South Africa, in 15 days, 20 hours, 16 minutes and 45 seconds. They collected 9.5 points on the leg, 6 points for third place and 3.5 points for second at the scoring gate, and have 14.5 points total, likely good for fifth place on the leaderboard.

"We feel really good," said Lewander, the 45-year-old skipper from Stockholm. "We have some confidence starting to grow. It's a special confidence. We challenged the Indian Ocean in a good way, kept going for four days in cold, miserable conditions. We had some big situations, but we managed to go through."

The Nordic crew is comprised of skipper Lewander, navigator Aksel Magdahl, watch captains Richard Mason and Magnus Olsson, trimmers Anders Dahlsjö, Jens Dolmer, Thomas Johanson and Eivind Melleby, bowmen Martin Krite and Martin Stromberg and media crewman Gustav Morin.

Ericsson 3 ran in the top three for nearly the entire leg. After clearing the scoring gate in second, a few hours after their leading teammates on Ericsson 4, the two blue yachts swapped the lead sailing up the Indian Ocean towards the Doldrums. The decisive moment came on Nov. 26 when Ericsson 4 sailed away.

"They were two miles in front of us. We could've thrown a stone at them," said Mason, the watch captain competing in his third Volvo race. "One cloud formed up and we got headed and stuck, and that 2 miles became 50 miles."

Ericsson 3 endured a set of trials and tribulations that began early on the leg. During the short circuit of Table Bay on Nov. 15, moments after the start, Ericsson 3's radar was pulled off the mast when the jib caught on the mount. The crew attempted to repair the unit, but to no avail and sailed the leg without the sighting device.

The Nordic crew rose to the challenge of rough sailing when they crossed the scoring gate in second, a few hours after teammate Ericsson 4. The gate marked the end of four days of rough sailing and the crew, of which only three members have sailed around the world before, suffered broaches, torn sails and torn hands during five days of wild sailing to get to the gate.

"The all-around seamanship was important," Mason said. "The Southern Ocean was tough with sail changes and cold weather, it was important for this crew to sail the boat in those conditions."

Mason, however, said it was the ending that proved most challenging. The crew, like the two finishers ahead of them, had to battle light winds to the finish line after what had been a windy leg.

"The biggest thing we learned was how to sail in light conditions," Mason said. "We had no more than 7 knots the last few days. To figure out how to make the boat go in light winds is good because it's going to be light for a few legs."

ENDS

Video footage will be available at www.r2prod.net/ericsson by 1400GMT today News and archive footage available of at www.thenewsmarket.com/ericsson

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Ericsson Racing Team

http://www.ericssonracingteam.com

ISIN: SE0000108656

Stock Identifier: SSE.ERICR

US: ERICY