Aspiro carries out a new share issue directed at institutional investors for a maximum of SEK 82.5m. The issue was overs

Aspiro carries out a new share issue directed at institutional investors for a maximum of SEK 82.5m. The issue was oversubscribed. Aspiro's board of directors has passed a resolution regarding a cash issue for a maximum total of SEK 82.5m, conditional on shareholder approval. The new share issue has been placed by JP Nordiska with institutional investors. At the same time, Aspiro plans to acquire a Swedish application company in a non-cash deal for approximately 5.8 million shares. The owners of the application company have pledged to participate in the new share issue with some SEK 15m. They have also been invited to nominate a board representative and deputy at the next general meeting of shareholders. Both the acquisition and the owners' participation in the share issue will only take place once a contract of sale is signed. This is expected to take place no later than December 7. Further information will be released when the contract is signed. On completion of the new share issue, Aspiro's number of outstanding shares will increase by 35.8 million shares. The goal of the cash issue is to secure greater long-term financing and strengthen Aspiro's freedom to act in the expected consolidation among companies in the mobile Internet sector. The issue price has been set at SEK 2,75 per share. This is equal to a 10-day volume-weighted average price with an 11-percent discount calculated as of Friday November 23. "The rise in interest for SMS-based mobile services and the availability of new technologies, like the launch of MMS terminals and GPRS networks, means that we expect the demand for mobile services to pick up in 8-12 months. This is a view that appears to be shared by most players and observers in the sector. With the new financing in place we also have a good starting position to take part in the continuing consolidation of the market," says Aspiro's CEO, Lena Wittbjer. "We are very happy to be able to present a long-term financial solution for Aspiro in the current stock market climate. It allows Aspiro to strengthen its institutional owner base, a fact we view as important. The new share issue gives Aspiro the opportunity to continue on its path of becoming a leading provider of mobile Internet applications in Europe," says Tomas Ahltén, chairman. For more information, please contact: Lena Wittbjer, CEO, Aspiro AB, tel: +46 (0)40 630 03 00 About Aspiro Aspiro offers mobile teleoperators, portals, companies and organizations a wide range of attractive services designed to meet the individual's need for information, entertainment and communication via mobile media. The company's vision is to create the leading global department store for mobile services. Founded in 1998, Aspiro is today an important player in the global mobile Internet market. Some 65 people currently work for the company, which has offices in Sweden and USA. Aspiro's business concept, organization and operations are based on many years of experience gained in the mobile telecommunications and IT sectors. For more information, please visit www.aspiro.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/11/30/20011130BIT00310/bit0002.doc http://www.waymaker.net/bitonline/2001/11/30/20011130BIT00310/bit0002.pdf