AcandoFrontec’s Annual General Meeting on May 12, 2005

At AcandoFrontec’s Annual General Meeting on May 12, President and CEO Lars Wollung described the Company's development in 2004 and 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 2005. 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 adopted balance sheet; Discharge the members of the Board of Directors and the President from liability; Reduce the number of Board members from six to five and pay them total fees of SEK 900,000; Reelect Board members Göran Carstedt, Olof Englund, Ulf J Johansson, Per Lindberg and Anders Skarin; Elect Ulf J Johansson as Chairman of the Company; Amend the articles of association so that the object of the business agrees with the current mission; 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 not more than 5,500,000 new Class B shares for use as compensation in connection with acquisitions; Authorize the Board, until the next Annual General Meeting, to deviate from current shareholders’ preferential rights and decide to acquire and transfer the Company’s own shares; Request that the Company’s largest shareholders form an election committee not later than six months prior to the Annual General Meeting in 2006. For more information, please contact Ulf J Johansson, Chairman telephone +46 708 10 10 11 Bertil Carlsén, Executive Vice President & CFO telephone +46 8 699 71 31 Jan Rehn, Director of Communications and Investor Relations telephone +46 31 345 32 43 www.acandofrontec.se Ticker: AFAB AcandoFrontec is a management and IT consulting company that identifies and implements performance improvements with the help of IT. Our consultants are business integration specialists who help customers to achieve improvements by developing processes, organizations and IT solutions. Our work is strongly focused on the bottom line and a responsibility for ensuring that customers quickly receive the improvements they expect from their investment. The Company has just over 500 employees at seven offices in Sweden. AcandoFrontec is listed on Stockholmsbörsen’s O-list under the ticker symbol AFAB.