CellPoint To Seek Parallel Listing in Stockholm
CellPoint To Seek Parallel Listing in Stockholm Stockholm, October 10 - Peter Henricssion, Chairman and CEO of CellPoint Inc. (Nasdaq: CLPT; www.cellpt.com) announces that CellPoint will apply for a parallel listing on the O-List of the OM Stockholm Exchange. "We announced our intention to seek a parallel listing in Europe because our primary commercial market for location and telemetry services is Europe," said Henricsson. "Our board's decision was to apply for a parallel listing in Sweden and we have already initiated discussions with the OM Group in Sweden, which runs the OM Stockholm Exchange, to effectuate a listing on the O-List as soon as possible." CellPoint evaluated several different alternatives and the decision to list in Stockholm was based on the fact that the Company has the majority of its people and development in Sweden. Stockholm is also known as a worldwide center for mobile technology; CellPoint's office in Kista is in the heart of what is known as the 'Wireless Valley'. "We will maintain our Nasdaq listing in the United States and will soon be able to offer European shareholders improved access to trading in CellPoint's stock," added Henricsson. Recent Events CellPoint has recently announced several commercial contracts for its technology and services. "We have also expanded our location technology and services offerings with market-driven product developments," continued Henricsson. "We feel it is clear that our leadership in location technology and services is becoming even more pronounced as we continue to announce commercial deployments in our target markets. Swedish subsidiary Unwire has also announced more than $20 million in contracts in Europe and Asia over the last two months. More CellPoint news can be viewed at http://www.cellpt.com/v2/newsreleases2.htm CellPoint also publishes regular Corporate Updates - these can be viewed at http://www.cellpt.com/v2/corporateupdate2.htm Annual Stockholder's Meeting CellPoint's annual meeting will take place on December 6, 2000 in Kista, Sweden at 16:00 hours. All registered shareholders as of October 12, 2000 will be invited to attend. CellPoint Inc. (Nasdaq: CLPT, www.cellpt.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 works in unmodified GSM networks and uses standard GSM or WAP phones and standard Internet services. Unwire's GSM terminals are also integrated with CellPoint's Mobile Location Services platform. Several commercial applications are available for business and personal location services including Resource Manager@ for mobile resource management, iMate@ for location-sensitive information and Finder@, an application for locating friends and family. Common estimates for GSM subscribers to 2005 exceed 1.5 billion users, whereas worldwide shipments of cellular handsets with embedded GPS (Global Positioning System) are estimated at four million in 2000 and 38.5 million in 2003. The wireless location services industry in Europe alone is estimated to generate more than $80 billion between now and 2005 (The Strategis Group). For information, please contact: CellPoint Inc.: Bosse Steiner, Tel: +46 8 633-2704 or +46 733 32 00 32 Lynn Duplessis +44 1344 624 565 North American Inquiries: The Rowe Group; 877-880-1195; ajc@rowe-group.com CellPoint(TM), Finder(TM), Resource Manager(TM), iMate(TM) and CellPoint Systems 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. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/10/20001010BIT00690/bit0001.doc http://www.bit.se/bitonline/2000/10/10/20001010BIT00690/bit0002.pdf