Prosolvia Reduces its Personnel

According to the action plan presented by Prosolvia on May 25, 1998, among other things, the number of personnel was to be reduced by 110 people as a step towards returning the company to profitability. In Sweden, all employees effected by the personnel reductions have now been informed. In Sweden, a total of 100 employees are effected by the personnel reductions. This includes personnel that have been served notice and personnel employed on a project-basis whose contracts will not be extended, and also a number of employees who have resigned, which from the company's perspective is regrettable. - Naturally, we regret that some employees had to be let go and that some employees have decided to leave the company. These are enterprising, competent people that we would have preferred, if it were possible, to keep," says Johan Ekener, Prosolvia's president and CEO. "We are currently in a phase of consolidating, restructuring, and focusing our business operations. The personnel reductions were necessary, but there remains, however, a broad and collected array of expertise within the company. - Among other things, we have combined the separate development teams within Prosolvia into one single team, which will enable us to utilize our developers' collected expertise much more efficiently than before. The work to complete future product releases will continue and our obligations to clients will be fulfilled as planned. - We expect the personnel reduction process to be completed during the year's final quarter. For further information, please contact: Birgitta Plyhm Director of Corporate Communications Prosolvia AB Tel: +46-31-703-5016 Mobile: +46-0708-709-016