CityMail and Sweden Post settle

CityMail and Sweden Post settle CityMail and Sweden Post have entered into a settlement agreement which conclusively governs all dealings between the companies for the period up to 30 June 1999. The settlement agreement governs both claims by CityMail against Posten and by Posten against CityMail. In total, this has resulted in a net payment to CityMail. The parties have agreed not to make public the size of the payment. CityMail's President, Bror Anders Månsson, and Bo Alerfeldt, The Head of Sweden Post Letter Service issued the following joint statement: "We have made a business decision based upon the effect litigation would have on the respective organisations and what it would cost to pursue this type of litigation further. We thereafter arrived at a result which satisfies both parties. With this agreement, we close this chapter and set our sights on the future." For further information please contact: Håkan Ohlsson, deputy Managing Director, CityMail, telephone no. +46 70 752 42 01 Michael Kongstad, Corporate Communications Manager, Posten, telephone no. +46 8 781 11 94, +46 70 590 84 16 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/07/01/19990701BIT00130/bit0001.doc http://www.bit.se/bitonline/1999/07/01/19990701BIT00130/bit0002.pdf