Framfab Continues to Divest According to Plan

Framfab Continues to Divest According to Plan Framfab sells the main part of Framfab Labs, its subsidiary Framfab Spain S.L. and divests its stakes in the Dutch companies Coin and Plinq. Framfab also divests its eleven-percent stake in Framfab S.p.A. in Italy. These divestments are part of the action programme that has been communicated earlier. * The software development operations in Lund with 54 employees that was part of Framfab Labs and that mainly has been engaged in the development of the Internet portal platform BRIKKS will be sold to employees and external investors. Framfab will retain approximately 20 percent in the new company, but will not be represented on the board. Jonas Birgersson will have an indirect ownership of 10 percent. The exact terms will be communicated in the notice for an extraordinary general meeting. The new company will have Jonas Birgersson as its CEO and he will thus leave the Framfab Group. Jonas has also left the board of B2 Bredband, where he was Framfab's representative. Sven Skarendahl, Framfab's chairman, replaces him there. * Framfab Spain S.L. is one of Framfab's smaller sales offices. The company has been sold to Grupo Rodania S.L., a Madrid-based company specialised in technology and knowledge transfer between the Nordic countries and Spain. * Framfab's 70 percent stake in the Dutch corporate communications company Coin Corporate Interactive B.V. with 10 employees has been sold to Van Klaveren Management Support. The Dutch company Coin is not to be confused with the Swedish company with a similar name, which Framfab acquired in 1998. * Framfab's 70 percent stake in the Dutch digital entertainment company Plinq P.V. with 8 employees will be sold to the 30 percent owner Stichting Plebs Incorporated. This does not mean that Framfab has left the Netherlands. Framfab will retain its full ownership of the Dutch subsidiary Netlinq Framfab. * Framfab's eleven percent stake in Framfab S.p.A. has been sold to the Italian company's management. With the divestment and in accord with the management of Framfab S.p.A., Framfab has chosen not to exercise its option to acquire the remaining 89 percent of the company. "We are happy that we have found new owners for Framfab Labs' operations in Lund and wish Jonas Birgersson and his staff the best of luck. We are looking forward to a successful partnership around BRIKKS and other products. As Jonas Birgersson will be leaving Framfab, I want to express our gratitude for his achievements over the years," said Sven Skarendahl, the chairman of Framfab. "I am pleased that we finally found a solution that provides our Lund operations with financial stability, even if it means that we are leaving Framfab. We believe that our partnership with Framfab will mean much for the success of our products," said Jonas Birgersson, the CEO of the new company. "The divestments that are part of our action program have now been completed. Framfab is now a focused Internet professional services company with operations in six countries in Europe, and we are now in a good position to restore our profitability," said Johan Wall, the CEO of Framfab. The divestments of Framfab Labs' operations in Lund and Plinq are conditional for their validity upon the support of a general meeting. A majority of at least nine tenths of both the votes cast and shares represented at the general meeting is needed as the decisions fall under the so called Leo act. Framfab will shortly send out a notice for an extraordinary general meeting. For more information please contact: Framfab's Press Service: +46 70 973 75 16 Framfab is a global Internet professional services company, delivering digital services based on Internet technology. Framfab has offices in Denmark, France, Germany, the Netherlands, Sweden and the UK. Many large global groups work with Framfab, including 3M, AstraZeneca, AXA, Bosch, Electrolux, Orange, I K E A, le Groupe Pernod Ricard, Kellogg's, Packard Bell, Nike Europe, SAAB, BT Ignite, Volvo Car Corporation and Volvo Group. Framfab is listed on the Stockholm Exchange's Attract 40 list (ticker FTID). For more information, please visit ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: