On Thursday, January 20, 2011, RNB RETAIL AND BRANDS held its Annual General Meeting (AGM) at the company's premises at Regeringsgatan 29 in Stockholm under the chairmanship of Chairman of the Board Magnus Håkansson. Adoption of income statement and balance sheet and resolution concerning discharge from liability The AGM adopted the income statement and balance sheet for the Parent Company and the consolidated income statement and consolidated balance sheet for the fiscal year that extended from September 1, 2009 to August 31, 2010. The AGM discharged the members of the Board and the President from personal liability for the 2009/2010 financial year. Dividend The AGM resolved in accordance with the Board's and the President's motion that no dividend be paid for the 2009/2010 fiscal year and that the earnings at the disposal of the AGM be carried forward. Election of Board members The AGM voted to re-elect the Board members Jan Carlzon, Lilian Fossum, Magnus Håkansson, Torsten Jansson, Laszlo Kriss, Mikael Solberg and Nils Vinberg to the Board. John Wallmark declined re-election. Magnus Håkansson was elected Chairman of the Board. Fees to Board members and auditors The AGM adopted the Nomination Committee's proposal that total director fees of SEK 1,050,000 be paid, whereby each Board member who is not employed by the company will receive SEK 137,500. SEK 300,000 will be paid to the Chairman of the Board. A special fee of SEK 62,500 is to be paid to the chairman of the Audit Committee. Otherwise, no fees are to be paid for committee work. Fees to auditors are paid on a current account basis as invoices are received. Nomination Committee The AGM approved the Nomination Committee's proposal concerning principles for convening the Nomination Committee, including the following. Not later than six months prior to the AGM, the Chairman of the Board shall summon the four largest shareholders in the company at this date, who will then each be empowered to appoint one member, who may not be a member of the Board, to form the Nomination Committee. The Chairman of the Board will leave his position as Chairman during the term. The AGM approved the proposal from the Nomination Committee that the Nomination Committee has two options to consider in the election of a new Chairman of the Board, either to convene an Extraordinary General Meeting or that the Board appoint one of the existing Board members as new Chairman of the Board until the next AGM. Principles of remuneration of company management The AGM approved the motion from the Board concerning principles for the remuneration of company management, which thus remain unchanged compared with the principles applying during the preceding year in terms of variable remuneration. The information in this press release is of the type that RNB is obliged to disclose in accordance with the Securities Markets Act. The information was submitted for publication at 19:30 p.m. on January 20, 2011. For further information, please contact: Magnus Håkansson, Chairman of the Board, +46 (0) 703 55 87 15, e-mail: magnus.hakansson@expert.se RNB RETAIL AND BRANDS owns, operates and develops fashion, clothing, accessories, jewelry and cosmetics stores that focus on providing excellent service and a world-class shopping experience. Sales are mainly conducted in Scandinavia through the three store concepts Brothers & Sisters, JC and Polarn O. Pyret, as well as through shops in the department stores NK in Stockholm and Gothenburg and Illum in Copenhagen. RNB RETAIL AND BRANDS has operation in 11 countries. RNB RETAIL AND BRANDS has been listed on the OMX Nordic Exchange since 2001. Information from Annual General Meeting of RNB RETAIL AND BRANDS AB on January 20, 2011: http://hugin.info/132993/R/1481273/416547pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: RNB Retail and Brands AB via Thomson Reuters ONE [HUG#1481273]