Cell Network investing in Snapsend

Cell Network investing in Snapsend Cell Innovation, Cell Network's venture capital company, is investing in Snapsend, an Internet digital photo service. Snapsend is a Swedish company which has created a virtual meeting place where consumers can simply and stimulatingly share their pictures with friends and acquaintances, make their own photo albums and structure their photo folder. Since the operation started up this spring, management consultants from Cell Strategy in close collaboration with Snapsend have developed the company's international expansion strategy. "We are now finding unprecedented strength in having Cell Network as a strategic owner," says Thomas Åslund, MD of Snapsend. "Access to Cell's international network as well as their expertise in wireless and interactive TV is important to our international expansion, and as investors, they complement our other owners well." Cell Innovation's investment is equivalent to an equity share of 7.7 %. "In the USA, developments within this area have been explosive. Since Snapsend acts as a bridge between analogue and digital photo developing and image management, even owners of analogue cameras have the opportunity to experience digital services already today" says Kristina Ahlberg, MD of Cell Innovation. One of the services from Snapsend is virtual display of personal photo albums. After developing, the customer has access to a digital password- protected folder at snapsend.se, and can compile the pictures into a virtual album. If the customer then wishes to view the pictures, say from a wedding, he invites friends and relatives by e-mail, and they can look at the pictures by opening an accompanying link to the photo folder. Ordinary hard copies or a complete photo album can be ordered by post in conjunction with the virtual display. About Snapsend Snapsend was founded in January 2000 by Thomas Åslund, Mattias Byström, and Niklas Jonsson. Since the launch of snapsend.se in August, a steady growth in members has been shown, and trade over the net has started up. Cell Innovation's investment is the last section of an issue carried out by Snapsend totalling MSEK 15. Both new and old owners took part in this issue. The largest owners are Wikow Invest AB, Core Ventures and Cell Innovation. Other owners that can be named are AU-system, Element Park and Björn Wolrath, the Chairman of Snapsend. Contacts: Kristina Ahlberg, MD, Cell Innovation, phone: +46 8-402 31 16, +46 709-56 51 21 Arvid Liepe, Dir. Investor Relations, Cell Network, phone: +46 8 402 31 91, +46 709 565185 Thomas Åslund, MD, SnapSend, phone: +46 31-701 15 50, +46 706 - 92 68 96 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/17/20001017BIT00320/bit0001.doc http://www.bit.se/bitonline/2000/10/17/20001017BIT00320/bit0002.pdf