Novestra increases ownership in strax

NOVESTRA INCREASES OWNERSHIP IN STRAX AB Novestra has signed an agreement in principle which makes it possible for the company to increase its ownership with another six percent. The acquisition can, if Novestra so wishes, be made through an issue in kind and should in that case be concluded in January of 2002. Through this transaction, Novestra will have a direct ownership in Strax of approx. 15 percent and warrants to increase ownership to approx. 23 percent. "Strax is a company that has had a positive development this year and we have all along aimed at reaching approx. 25 percent ownership. We now have an opportunity to acquire additional shares at a favourable valuation and, if we wish to do so, to pay with our own shares. It is, however, unlikely that we choose the latter considering our current share price level. A considerable rise in the share price is needed before we would be willing to issue new shares," says Novestra's CFO, Nils Bengtsson. For further information please contact Nils Bengtsson, AB Novestra, phone No. +46 8 545 017 50. About AB Novestra AB Novestra is one of the leading independent venture capital investment companies in the Nordic region with focus on companies providing enabling network technologies and services for the communications industry. Novestra's portfolio of companies includes B2 Bredband AB, Comintell Holding AB, Continuum Group Ltd, Netsurvey AB, Qbranch AB, Recollections, Inc., Strax Holdings, Inc. and a number of other holdings. Novestra's shares are listed on the O-List of Stockholmsborsen. For information regarding AB Novestra, please see ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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About STRAXSTRAX is a global company specializing in mobile accessories and connected devices. STRAX is listed on the Nasdaq Stockholm Stock Exchange. STRAX offers proprietary, licensed,partner branded accessories and connected devices. The proprietary brands include XQISIT, GEAR4, Urbanista, THOR, AVO+ and FLAVR. The company furthermore represents over 30 brands. The company sells to a wide channel landscape ranging from telecom operators, specialized mobile and consumer electronics retailers to online, lifestyle, convenience stores and supermarkets. STRAX was founded in Miami and Hong Kong in 1995 and has since grown significantly across the globe. STRAX has 200 employees in 12 countries and its operational HQ and logistics center is based in Germany.