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                                                                    EXHIBIT 99.3

                        INSTRUCTION TO REGISTERED HOLDER
                             FROM BENEFICIAL OWNER
                    OF 10 5/8% SENIOR SECURED NOTES DUE 2011
                                       OF
                            PREEM HOLDINGS AB (PUBL)

    To Registered Holder:

    The undersigned hereby acknowledge receipt of the Prospectus dated August
28, 2001 (the "Prospectus") of Preem Holdings AB (publ) (the "Company") and
accompanying Letter of Transmittal (the "Letter of Transmittal"), that together
constitute the Company's offer (the "Exchange Offer") to exchange 10 5/8% Senior
Secured Notes due 2011 (the "New Notes") of the Company for each E1,000
principal amount of outstanding 10 5/8% Senior Secured Notes due 2011 (the
"Existing Notes"). Capitalized terms used but not defined have the meanings
ascribed to them in the Prospectus.

    This will instruct you, the registered holder, as to the action to be taken
by you relating to the Exchange Offer with respect to the Existing Notes held by
you for the account of the undersigned.

    The aggregate face amount of the Existing Notes held by you for the account
of the undersigned is (fill in amount):

        E_______ of 10 5/8% Senior Secured Notes due 2011.

    With respect to the Exchange Offer, the undersigned hereby instructs you
(check appropriate box):

        / /  To TENDER the following Existing Notes held by you for the account
    of the undersigned (insert principal amount of Existing Notes to be tendered
    (if any)):

           E_______ of 10 5/8% Senior Secured Notes due 2011.

        / /  NOT to TENDER any Existing Notes held by you for the account of the
    undersigned.
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    If the undersigned instructs you to tender Existing Notes held by you for
the account of the undersigned, it is understood that you are authorized to
make, on behalf of the undersigned (and the undersigned, by its signature below,
hereby makes to you) the representations and warranties contained in the Letter
of Transmittal that are to be made with respect to the undersigned as a
beneficial owner, including but not limited to the representations, that (i) any
New Notes acquired pursuant to the Exchange Offer are being obtained in the
ordinary course of business of the person receiving such New Notes, whether or
not such person is such Holder, (ii) neither the Holder of Existing Notes nor
any other person has an arrangement or understanding with any person to
participate in the distribution of such New Notes, (iii) if the Holder is not a
broker-dealer, or is a broker-dealer but will not receive New Notes for its own
account in exchange for Existing Notes, neither the Holder nor any such other
person is engaged in or intends to participate in the distribution of such New
Notes and (iv) neither the Holder nor any such other person is an "affiliate" of
the Company within the meaning of Rule 405 of the Securities Act or, if such
Holder is an affiliate, that such Holder will comply with the registration and
prospectus delivery requirements of the Securities Act to the extent applicable.
If the tendering Holder is a broker-dealer that will receive New Notes for its
own account in exchange for Existing Notes, you will represent on behalf of such
broker-dealer that the Existing Notes to be exchanged for the New Notes were
acquired by it as a result of market-making activities or other trading
activities, and acknowledge on behalf of such broker-dealer that it will deliver
a prospectus meeting the requirements of the Securities Act in connection with
any resale of such New Notes. By so acknowledging that it will deliver and by
delivering a prospectus meeting the requirements of the Securities Act in
connection with any resale of such New Notes, the undersigned is not deemed to
admit that it is an "underwriter" within the meaning of the Securities Act.

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                                       SIGN HERE
Name of beneficial owner(s) (please
print):___________________________________________
Signature(s):___________________________________________________________________
Address:_____________________________________________________________________
____________________________________________________________________________
Telephone
Number:________________________________________________________________
Taxpayer identification or Social Security
Number:_____________________________________
Date:___________________________________________________________________________
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