AcandoFrontec’s Annual General Meeting on April 27, 2006 resolves to change the company’s name to Acando

At AcandoFrontec’s Annual General Meeting on April 27, President Lars Wollung described the company’s development in 2005 as well as its long-term objectives and growth strategy. He also commented on the market’s development and AcandoFrontec’s financial development during the first quarter of 2006. The Annual General Meeting then resolved to: Approve the income statement and balance sheet for the Group and Parent Company included in the annual report; Appropriate the profit for the year in accordance with the Board’s proposal in the annual report, whereby accumulated earnings are carried forward and no dividend is paid; Discharge the members of the Board of Directors and the President from liability; Increase the number of Board members from five to eight and pay them total fees of SEK 1,175,000; Reelect Board members Olof Englund, Ulf J Johansson and Anders Skarin, and elect as new members Ulf Hedlundh, Björn Ogard, Ann-Marie Nilsson, Alf Svedulf and Jan-Olof Engström; Elect Ulf J Johansson as Chairman of the Company; Form an election committee for the Annual General Meeting in 2007 in consultation with the Company’s largest shareholders starting in September 2006; Amend the articles of association so that the necessary adjustments are made to the new Companies Act, that the company change its name from AcandoFrontec AB to Acando AB, and that the limits on the company’s share capital be raised, so that the lower limit increases from SEK 28 million to SEK 50 million and the upper limit increases from SEK 112 million to SEK 200 million; Authorize the Board of Directors, until the next Annual General Meeting, to decide on one or more occasions to deviate from current shareholders’ preferential rights and issue new shares for use as compensation in connection with acquisitions; the authorization applies to a maximum of 10 percent of the registered share capital at the time the Board, where applicable, utilizes the authorization for the first time; Authorize the Board of Directors, until the next Annual General Meeting, to deviate from current shareholders’ preferential rights and make the decision to repurchase and transfer the company’s shares; Issue convertible debentures, which will be offered to the large part of the Group’s employees and, upon conversion, will correspond to a maximum of 2,500,000 B shares, representing a maximum dilution of 3.3 percent; Offer around 60 key employees within the Group a combined incentive program comprising share purchases and employee stock options, where the plan is to annually increase this program, which for 2006 represents a maximum dilution of 2.2 percent. For more information, please contact Ulf J Johansson, Chairman telephone +46 708 10 10 11 Per Killiner, CFO telephone +46 708 90 30 35 Jan Rehn, Director of Communications and Investor Relations telephone +46 31 345 32 43 www.acandofrontec.com Ticker: AFAB AcandoFrontec is an international consulting company in performance improvements, enterprise systems and IT, which identifies and implements improvements through information technology. AcandoFrontec achieves measurable results by enhancing processes, organizations and IT solutions, so that they strengthen the customer’s business operations. AcandoFrontec’s job is to grasp the entirety of the customer’s business and ensure that every assignment produces quick, measurable gains. A broad-based customer roster includes companies both large and small as well as public organizations. AcandoFrontec’s most important partners are SAP, Microsoft and IBM. AcandoFrontec has just over 1,000 employees in northern Europe. AcandoFrontec is listed on Stockholmsbörsen’s O-list under the ticker symbol AFAB.