CellPoint Completes $10M Private Placement with Madison

CellPoint Completes $10M Private Placement with Madison November 19, 1999 - Stockholm - CellPoint Inc. (NASD: CLPT; www.cellpt.com) has closed a $10,000,000 equity private placement with Madison Securities, Inc. of Chicago, Illinois. "This financing gives us the ability to grow quickly to accommodate the exploding worldwide demand for our position- location technology," said Peter Henricsson, Chairman of CellPoint Inc. Having just returned from the Mobile Location Services conference in London held November 15 - 17 where CellPoint again sponsored, presented, exhibited and co-chaired, Henricsson said, "This conference once again confirms our leading position in the market as the first and only supplier of commercial GSM positioning services in the world. The overwhelming message at this conference was for cellular operators to deploy value-added location services as early as possible. The part of the exhibition that drew the most interest were the live positionings and application demonstrations that CellPoint carried out in London in co-operation with Cellnet." Cellnet is a leading carrier in Europe with more than 6 million subscribers in the UK. CellPoint plans to use the funds to expand international sales and marketing to rapidly deploy their positioning technology and services. The financing package was agreed to in July and included the $2 million bridge loan received in August which was retired during this financing. This private placement was offered to institutional and accredited investors in the USA and closed on November 12 at a total of 1,125,000 restricted shares issued, bringing the total shares outstanding in CellPoint to 9,390,000. The offering was open for six weeks and strongly oversubscribed beyond the $10 million cap. "I am confident that this placement gives the company a better position in the US market with a new strong base of influential shareholders, and Madison will become a lead market maker for CellPoint soon when the Nasdaq listing is completed," said Henricsson. "Madison's extensive US and international network will continue to be valuable to CellPoint in the future. This financing will ensure that CellPoint has the necessary financial strength to execute its aggressive business plan and capitalize on first-to-market advantages." "CellPoint is a very exciting company and we are looking forward to working with them and increasing their US exposure both with institutional and individual investors," said David Trandel, Managing Director of Sales & Marketing at Madison. "Our team will continue to promote CellPoint and our telecom analyst will follow the company closely and issue progress reports regularly." Madison Securities, Inc. (www.madisonsecurities.com) is a full service investment bank specializing in new and emerging technology companies. Madison represents both individual and institutional investors and offers online investment services through the Internet at www.madisononline.com. CellPoint Inc. is a US company whose CellPoint System@ technology and applications use the Internet and cellular networks to determine physical locations of cellular phones. The CellPoint System is currently the world's only commercially operational digital position-location technology; it is fully scalable, works with standard GSM phones and WAP phones in unmodified digital networks requiring no costly overlays, and can be co-ordinated worldwide from a remote central location. CellPoint has recently announced commercial deployment of the CellPoint System with Tele2, a division of NetCom (Nasdaq: NECS), the leading telecommunications company in Scandinavia. CellPoint has filed Form 10SB to qualify for trading on the Nasdaq exchange and is currently trading on the NASD OTC BB under the symbol CLPT. For more information, please contact: CellPoint Inc. North American Inquiries: Madison Securities Tel: +46 8 5449 0000 The Rowe GroupChris Pravecek Fax: +46 8 5449 0005 877-880-1195 Corporate Finance info@cellpt.com ajc@rowe-group.com 312-201-3291 www.cellpt.com c.pravecek@madisonsecurities.com Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties which may cause actual results to differ from those described. ------------------------------------------------------------ Mer information finns att få på http://www.bit.se Följande filer finns att ladda ned: http://www.bit.se/bitonline/1999/11/19/19991119BIT00130/bit0001.doc http://www.bit.se/bitonline/1999/11/19/19991119BIT00130/bit0002.pdf


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