Glocalnet Expands Its Co-operation With Som-net Into The European Market

9/17/1998 5:37 AM EST

GLOCALNET EXPANDS ITS CO-OPERATION WITH SOM-NET INTO THE EUROPEAN MARKET

Glocalnet AB (publ) has expanded its co-operation with Barakaat
International's subsidiary Som-Net AB in Europe. Since March of this year,
Som-Net has been offering Glocalnet's telecommunication services within the
Swedish market. The new agreement implies that Som-Net will sell and market
Glocalnet's telecommunication services in two additional European countries,
Great Britain and the Netherlands. Through its parent company's major existing
customer base, Som-Net has the opportunity to enter into both of these
European markets.

As a company Barakaat International principally acts as an intermediary in the
bank and travel industries, these services are mainly sold to immigrant
groups. The company is headquartered in Dubai and has sales offices all over
the world. Through their subsidiary Som-Net, they offer their customers IP
telephony services, produced by Glocalnet. Their primary customer base,
originate from East Africa.

Glocalnet is a next-generation telecommunication company that combines
telecommunications and IP networking technology to produce flexible and cost-
effective services. Currently, the company is building a Pan-European network
for Voice-over-IP services. Glocalnet is an initiator of a global Voice-over-
IP alliance covering four continents. Glocalnet's headquarters are located in
Stockholm, Sweden. The Company's stock is listed on the Reuters page of
Aragon, a Swedish investment bank.

For further information, please contact:
Mikael Hedlöf
Chief Operating Officer
Hanna Bergholm
Information manager
Glocalnet AB
Hälsingegatan 40
S-113 43 Stockholm
Tel + 46 8 566 34 100
Fax + 46 8 566 34 141
E-mail: