CellPoint Reports on Annual Stockholders` Meeting

CellPoint Reports on Annual Stockholders' Meeting Stockholm - December 13, 2001 - CellPoint Inc. (Nasdaq: CLPT), a global provider of mobile location software technology and platforms, held its annual stockholders' meeting in Stockholm yesterday. There were five items on the agenda: the election of six directors to serve for terms of one year each until their respective successors are elected and qualified; the approval of an amendment to the Company's Articles of Incorporation to increase the authorized common stock of the Company from 22 million shares of common stock to 50 million shares of common stock; the approval of an amendment to the Company's Articles of Incorporation to increase the authorized preferred stock of the Company from 3 million shares to 10 million shares; approval of an amendment to the Company's Stock Warrant Plan; and the ratification of the retention of audit responsibility of BDO Seidman LLP. More than 10 million votes were cast, or approximately 63% of the total shares outstanding. All items on the agenda were carried by majority vote with the exception of the proposal to approve of an amendment to the Company's Articles of Incorporation to increase the authorized preferred stock of the Company, which was not carried due to an insufficient amount of votes cast by beneficial owners. The meeting in Stockholm was attended by 80 stockholders. After the formal meeting, CellPoint executives presented information about CellPoint including recent financial results, the mobile location business, recent restructuring activities and CellPoint's architecture. Attendees also posed questions to the company directors and management. Jan Rynning, a director, commented on the question about the status of a lawsuit filed by Castle Creek, saying, "Negotiations are in progress and as long as this is not settled, our financial condition will continue to very strained. It is of course in both parties interest to reach a satisfactory solution as soon as possible." Jan Zaar, Vice President of Operations, described CellPoint's Mobile Location System (MLS) and Mobile Location Broker (MLB). Zaar discussed how MLB opens up totally new business opportunities both for CellPoint and the mobile operators, and that it will also open up the location services market for portals and content providers. Peter Henricsson, Chairman and CEO, described the refocusing of CellPoint and its positive impact on the Company. Lars Wadell, CFO, highlighted the resultant cost savings of CellPoint's recent restructuring, as reported on the Company's last quarterly report. Stephen Childs, President of CellPoint, spoke about his perspective on market opportunities for the Company over the next year and summed it up saying, "We have the right products at the right time." Peo Gaasvik, senior consultant with the wireless advisory company Northstream AB, was a guest speaker and described the location market from a mobile operator's perspective. Bengt Nordström, a director of CellPoint, is the co-founder of Northstream (www.northstream.se). About CellPoint Inc. CellPoint Inc. (Nasdaq and Stockholmsbörsen: CLPT) is a leading global provider of location determination technology, carrier-class middleware and applications enabling mobile network operators rapid deployment of revenue generating location-based services for consumer and business users and to address mobile E911/E112 security requirements. CellPoint's two core products, Mobile Location System (MLS) and Mobile Location Broker (MLB), provide an open standard platform adapted for multi-vendor networks with secure integration of third-party applications and content. CellPoint's entry-level location platform handles over 500,000 location requests per hour and has a seamless migration path to GPRS and 3G. CellPoint's early entry and experience with European mobile operators has allowed the development of products and features that address key requirements such as active and idle mode positioning, international roaming, multiple location determination technologies and consumer privacy. CellPoint is a global company headquartered in Kista, Sweden. For more information, please visit www.cellpoint.com. For information, please contact: KCSA Public Relations Worldwide: Sarah Shepard / Michael Cimini Tel: (212) 896-1236 / (212) 896-1233 sshepard@kcsa.com / mcimini@kcsa.com CellPointtm 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 Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/12/13/20011213BIT00920/bit0001.doc http://www.waymaker.net/bitonline/2001/12/13/20011213BIT00920/bit0002.pdf