Cognition increases holdings in Sweden's Glocalnet

Cognition increases holdings in Sweden's Glocalnet LONDON (January 21, 2000) - Cognition is substantially increasing its holding in Glocalnet, the fast-growing Stockholm based company which offers telecommunications over the internet. The investment represents 50 million SEK of Glocalnet's recent 80 million SEK share offering, and raises Cognition's holding approximately from 3 per cent to 10 per cent. Cognition will receive 312500 shares at a price of 160 SEK per share. "An important element of our strategy is to focus on pre-IPO investment in companies that understand business in the new economy, and where we believe our own networks and knowledge, as well as capital, can contribute to success" said Cognition Vice President Kristoffer Källeskog. "Glocalnet fits very well with this. We have great confidence in Glocalnet's management and Cognition looks forward to assisting Glocalnet grow at an even faster pace." About Cognition Cognition creates, incubates and invests in new economy ventures with high-growth potential. Launched in 1998 and building on strong foundations in Scandinavian high technology business, its understanding of Internet, IT and telecommunications has generated a consistently profitable track record. The company, together with the Cognition Institute, its in-house consultancy resource, is headquartered in London with offices in Gothenburg, Oslo, Stockholm, Stavanger, Helsinki, Copenhagen, Moscow, Toronto and New York. About Glocalnet Glocalnet is a next-generation telecommunications company that combines telecommunications and IP networking technology to produce smart, cost- effective services. The Company markets its services together with local marketing partners such as Birka Energi and Bredbandsbolaget (B2). Glocalnet's headquarters are located in Stockholm, Sweden. The company's stock is listed on the Reuters page of Aragon, a Swedish investment bank. For more information, please contact: Kristoffer Källeskog Vice President Venture Investments Cognition AB Washington House 40, Conduit Street W1R9FB London, UK Tel: +44 171 851 0200 Fax: +44 171 851 0201 Email: kristoffer.kalleskog@cognition.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/21/20000121BIT00190/bit0001.doc http://www.bit.se/bitonline/2000/01/21/20000121BIT00190/bit0002.pdf