CellPoint Announces Extension with Castle Creek Technology Partners

CellPoint Announces Extension with Castle Creek Technology Partners London, April 20 - CellPoint Inc. (Nasdaq: CLPT) and Castle Creek Technology Partners have agreed to an extension of the time on CellPoint's right to notify Castle Creek that CellPoint will repay the notes prior to June 5, 2001. "We have an excellent relationship with Castle Creek and appreciate their flexibility," said Peter Henricsson, Chairman and CEO of CellPoint Inc. "We've been actively exploring several options to best meet the needs of the company, its stockholders and its financial partners." "We value our relationship with CellPoint and are pleased this extension meets the company's needs," said a spokesperson for Castle Creek. Castle Creek Technology Partners LLC, founded in 1996, is a private fund based in Chicago. Castle Creek invests in small-capitalization public companies with a focus on high growth technology firms. Castle Creek seeks companies with strong management teams and quality product offerings in attractive markets. CellPoint Inc. (Nasdaq and Stockholm OM Exchange: CLPT, www.cellpoint.com) is a US company with subsidiary operations in Sweden, Great Britain and South Africa delivering location and wireless telemetry services in cooperation with cellular operators worldwide. CellPoint's end-to-end cellular location technology is a high-capacity system that works in unmodified GSM networks and uses standard GSM or WAP phones and standard Internet services. Several commercial applications are available for business and personal location services including Resource Managertm for mobile resource management, iMatetm for location-sensitive information and Findertm, an application for locating friends and family. Subsidiary Unwire's programmable telemetry terminal servers are also integrated with the CellPoint System Platform enabling a broad range of applications for wireless remote management and control. For information, please contact: CellPoint Inc.: Lynn Duplessis: Tel: +44 (0)1344 624 565 CellPointtm, Finder, Resource Manager, iMate and CellPoint Systemstm are trademarks of CellPoint Inc. Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties which may cause actual results to differ from those described. Copyright © CellPoint Inc. 2001 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/20/20010420BIT00650/bit0002.doc http://www.bit.se/bitonline/2001/04/20/20010420BIT00650/bit0002.pdf