Initial public offering of Axis oversubscribed

Initial public offering of Axis oversubscribed * Offer priced at SEK 38 per share * Offer subscribed approximately 6 times * First day of trading on the OM Stockholm Exchange the 27 June 2000 * New issue of in total MSEK 475 The Offer to acquire shares in Axis Aktiebolag (publ) ("Axis") has been priced at SEK 38 per share (the "Offer price"). In total 12,500,000 new issued shares were offered to Swedish and international institutional investors, to the public in Sweden and to employees of Axis. Approximately 85 per cent of the Offer has been allocated to institutional investors in Sweden and internationally. The remaining shares have been allocated to the public in Sweden, employees of Axis and to persons and companies with whom Axis has a professional relationship. The Offer was subscribed approximately 6 times. In addition to the new issued shares, and in accordance with the prospectus, the three main owners have committed to sell a maximum of 1,875,000 shares to cover any over-allotment (the "Over-allotment option"). Provided that the over-allotment option is exercised in full the Offer will comprise 14,375,000 shares representing approximately 20,9 per cent of the shares and voting rights in Axis. The Offer can thus, at most, equal an approximate value of MSEK 546. Mikael Karlsson, Chairman of the Board of Axis said today: "We are of the opinion that the new issue of shares, the widened shareholder base and the floatation of Axis provides solid platform for a positive development of Axis' business. Strong demand from investors confirms our confidence in the future prospects of Axis. The flotation of Axis will facilitate the future development and expansion of Axis by increasing the public interest in the Company." Peter Ragnarsson, President and Chief Executive Officer of Axis, said today: "The new issue facilitates a continued forceful development of our organisation and our product offer to further develop the leading position Axis holds in the growth markets where Axis are operating. The high level of support that investors in Sweden and internationally have shown for Axis is very encouraging. I am specifically satisfied with the strong support shown by the employees of Axis." Application has been made to the OM Stockholm Exchange for a listing of the shares on the O-list. Based on the Offer price, Axis will have a market capitalisation of approximately MSEK 2,618. Full payment for shares allocated to members of the public in Sweden (other than Axis employees) will be debited from previously designated bank accounts on or about 21 June, 2000. Settlement notes, showing the number of shares allocated and confirming that payment for the shares so debited will then be despatched to those individuals allocated shares. No notice will be sent to applicants who have not been allocated shares. The Axis share is expected to be quoted on the OM Stockholm Exchange's O-list from 27 June, 2000. Stabilisation: SIB/Stockholm Stock Exchange rules. Enskilda Securities acted as financial advisor to Axis. Axis Axis' vision is to increase the value of the network for all its users by providing network "access to everything, from anywhere, anytime" on the network. Axis' business mission is to make it simple and cost-effective for users to connect all types of electronic equipment in networks to provide efficient, improved access to various services, resources and units. To make this possible, Axis aims to further strengthen the Company's global market position and establish itself as a leading company in the development of local wireless networks. Axis should continue to will be a market leader in solutions for connecting peripheral units such as printers, scanners, cameras and storage devices to networks, as well as offering new opportunities for wireless network connectivity. The Axis view of the future involves users requesting communications services independent of the network medium. These services will use data, images and voice, for both wireless and fixed networks, where the user will perceive the two networks as one and the same Internet network. This will require suppliers of technology that can handle different protocol and network environments, utilising the Internet Protocol (IP) as a foundation. This multi-protocol support is a core competence of Axis. Since its beginnings in 1984, Axis has expanded rapidly and currently has approximately 500 employees. During the latest five-year period, sales have increased by an average of 20 percent and totalled slightly less than SEK 700 million for the fiscal year May 1, 1999-April 30, 2000. For information, please contact: Peter Ragnarsson, President and Chief Executive Officer, Tel: +46-46-272 18 00 This announcement is not an offer of securities for sale in the United States. No securities should be offered or sold in the United States absent registration or an exemption from registration, and any offer of securities to be made in the United States will be made by means of an offering memorandum that may be obtained from Axis. Such offering memorandum will contain detailed information about Axis and its management as well as Axis' financial statements. This announcement must not be released or distributed in or into Canada, Australia or Japan or in or into any other jurisdiction where the release or distribution would require that any prospectus, registration or other measures has to be taken in addition to those required under Swedish law. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/16/20000616BIT00240/bit0001.doc http://www.bit.se/bitonline/2000/06/16/20000616BIT00240/bit0002.pdf