BIRKA NORDEN is changing its name following asuccessful first year of business, and will now be known as e n s e c

BIRKA NORDEN is changing its name following asuccessful first year of business, and will now be known as e n s e c Energy Securities Europe As one of the fastest growing, independent traders in the Nordic power market, Birka Norden's focus is on optimisation of strategic business for its clients. The company is now moving towards a further widening of ownership and expansion into Finland, Denmark and the electricity markets in Europe. Because of these developments, Birka Norden needs a new company name that links it more clearly with its business and its independent role in the market. The new name is ensec - Energy Securities Europe. ensec is a strategic partner for electricity-intensive industry, energy companies and power producers in Europe. The business concept is to offer unique opportunities to those interested in being independent and successful in tomorrow´s energy market. ensec offers both physical and financial, customised solutions, combined with efficient currency trading. st Birka Norden was formed on 1 January 1998 on the basis that major electricity-intensive interests want to work in co-operation with an independent, specialist power trader. Initially, the company was owned by three energy companies, Imatran Voima OY of Finland, Stockholm Energi AB of Sweden and Trondheim Energiverk AS of Norway. The purchase of the Norwegian power trading company Kraftfinans AS in December of 1998 widened the ownership further to include the Norwegian companies Hedmark Energi AS and Akershus Kraft AS. Birka Norden was founded on unique experience from both the power market and the financial sector. Today - with our staff of around 20 employees - ensec offers one of the Nordic markets best combinations of expertise in the electricity business, risk management, analysis/forecasting and electricity sales. During what was a successful first year of business, the company managed to establish itself as one of the leading power traders in the deregulated Nordic power market. Birka Norden has been fortunate when it comes to its choice of customers and has built up an excellent customer base that comprises companies of expertise, which also contribute to the development of our company. During 1998, the business was able to establish itself and expand, and also managed to achieve a good financial result. Turnover in financial power trading was just short of 60 TWh in 1998 (bought 30 TWh, sold 30 TWh), representing a sales figure of around SEK 5 (five) billion. Since the autumn, Birka Norden has also been «market maker» on the futures market of Nord Pool - The Nordic Power Exchange. A market maker provides volumes of electricity for sale and purchase at guaranteed prices. Birka Norden is also a involved in physical supply of power, and acts as a balancing operator vis-à-vis Svenska Kraftnät (the Independent System Operator) in Sweden. Interest in the company and demand for our services are increasing both in the Nordic market and in the rapidly growing, deregulated European power market. To be able to meet this increased demand and to create further growth and added value for our customers and within the company, ensec is now in the process of widening the ownership further. For further information, please contact: Per-Olof Granström, CEO Lars Hedström, Marketing Direktor Tel: +46 8 442 53 80 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/10/19990310BIT00070/bit0001.doc http://www.bit.se/bitonline/1999/03/10/19990310BIT00070/bit0002.pdf