SEC Approves CellPoint's Form 10SB
SEC Approves CellPoint's Form 10SB CellPoint Applies for Full Listing on Nasdaq National Market Stockholm, January 28, 2000 - CellPoint Inc. (NASD: CLPT; www.cellpt.com) has received approval from the United States Securities and Exchange Commission of its Form 10SB Registration Statement. This approval was the final step needed to enable CellPoint to apply for listing on the Nasdaq National Market, and CellPoint is filing the application for this listing today. "This is an important milestone for our company - especially being qualified to move directly to the Nasdaq National Market," said Peter Henricsson, Chairman and CEO of CellPoint Inc. "The listing on the National Market will greatly enhance CellPoint's visibility and make it much easier for any level of investor to trade the Company's securities. It also opens the market for those many institutions, funds and many brokerage houses that, as a policy, do not trade in any Bulletin Board company." CellPoint Inc. is a US company whose European subsidiary, CellPoint Systems AB, delivers services in cooperation with cellular operators worldwide. Several commercially available services are based on the CellPoint System@ technology that uses the Internet and cellular networks to determine physical locations of cellular phones. The CellPoint System is currently the world's only commercially operational digital cellular position-location technology; it is fully scalable, works with standard GSM phones and WAP phones in unmodified digital networks requiring no costly overlays, and can be coordinated worldwide from a remote central location. According to The Wall Street Journal, GSM is the world's leading standard in cellular phone technology with more than 50 percent of the world cellular market. GSM accounts for more than 66% of the world digital cellular market with more than 230 million subscribers worldwide. Estimates for cellular phone usage are now at 1.5 billion users by 2005 with 400 million mobile Internet users by 2004. Shareholders are reminded that no comments on the Company's progress can or will be made prior to a press release regarding approval from the Nasdaq, which should take approximately one month. For more information, please contact: CellPoint Inc. Tel: +46 8 5449 0000 Fax: +46 8 5449 0005 www@cellpt.com info@cellpt.com North American Inquiries The Rowe Group 877-880-1195 ajc@rowe-group.com CellPoint 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. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/28/20000128BIT00280/bit0001.pdf http://www.bit.se/bitonline/2000/01/28/20000128BIT00280/bit0002.doc