No acquisition of Sarajärvi & Hellén

No acquisition of Sarajärvi & Hellén Cell Network AB's letter of intent for the acquisition of the Finnish company Sarajärvi & Hellén has been revoked following the emergence of new circumstances in conjunction with the due dilligence process. As was previously announced, Cell Network intended to acquire 100% of the sahres of Sarajärvi & Hellén and signed a letter of intent in February. During the subsequent negotiations, it became clear that more than half of Sarajärvi & Hellén's 26 employees intended to leave the company and that several had established competing operations. Cell Network therefore no longer intends to acquire the company. "When this became known, we immediately notified the company that we were no longer interested in an acquistion," says Ola Burmark, manager for Cell Network International Expansion. "We need to add competent persons to our network and therefore aim to acquire another company. Finland remains an attractive market, and we are in contact with other companies." Contacts: Ola Burmark, Manager Cell Network International Expansion, Phone +46 8 5220 4124 Arvid Liepe, Head of Corporate Communications and Investor Relations, Cell Network AB (publ), Phone +46 8 522 041 85, mobile +46 709 56 51 85 The Internet company Cell Network AB (publ) is listed on the OM Stockholm Stock Exchange's O-list and has international operations in Sweden, Norway, Denmark, France, Spain, United Kingdom, Germany, Switzerland and Malaysia. The Group is a leading Internet consulting company for business development based on new digital media and aims to be one of the market leaders in the world. Customers include General Electric, Telia, Nokia, ABB, Volvo, Telenor, Renault, Saab, Banque Nationale de Paris, Ericsson, Braathens Malmö Aviation, Astra-Zeneca, Procordia, De norske Bokklubbene, Nationalencyklopedin, Svenskt Flyg, Bonnier, Torget (Swedish Post) and Electrolux Home. To subscribe to press releases online, visit www.huginonline.com. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/04/20000504BIT00970/bit0001.doc http://www.bit.se/bitonline/2000/05/04/20000504BIT00970/bit0002.pdf