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SYSOPEN PLC WILL CANCEL ITS TENDER OFFER

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SysOpen Plc Stock Exchange Release 3 November at 4.50 pm


SYSOPEN PLC WILL CANCEL ITS TENDER OFFER FOR
NOVO GROUP PLC SHARES AND CONTINUE TO 
ADHERE TO ITS ACQUISITION AND ALLIANCE 
STRATEGY

In SysOpen’s view, the risks involved in the successful
completion of the company acquisition have fundamentally
increased since the announcement of the raised tender
offer by WM-data AB (publ.). The price of Novo Group Plc
shares and the higher risk involved in the company
acquisition have substantially undermined opportunities
to increase SysOpen’s shareholder value through this
acquisition.

Today, SysOpen Plc’s Board of Directors discussed SysOpen
Plc’s tender offer for Novo Group Plc shares, and the
situation arising from the competing tender offer for
Novo Group Plc shares placed by WM-data AB (publ.), a
Swedish company, on 29 October 2003. On the same day,
Novo Group Plc withdrew from the combination merger
agreement concluded with SysOpen Plc on 25 September
2003.

In these changed circumstances, SysOpen’s Board of
Directors has decided not to raise its offer. Instead,
the company will cancel the tender offer.

The restrictions governing the sale of Novo Group shares
held by the Novo Group shareholders who accepted
SysOpen’s tender offer will be lifted within around three
banking days. Novo Group shareholders will not be subject
to any fees or charges for lifting such restrictions.
SysOpen wishes to thank all those Novo Group shareholders
who relied on SysOpen.

SysOpen is confident about the Finns’ competitiveness and
willingness to compete successfully in the
internationalising domestic markets, as well as their
opportunities to go international in their strong service
and product areas, through domestic efforts.

The recent events have strengthened our willingness to
provide Finnish customers with increasingly better IT
services, in an effort to cater for the needs of a
broader range of customers. We will remain determined to
adhere to our acquisition and alliance strategy through
domestic efforts.


SysOpen Plc

Board of Directors

FOR FURTHER INFORMATION, PLEASE CONTACT
Arto Sahla, Managing Director, 
tel. +358 (0) 424 2020 339, 
gsm +358 (0) 400 442 986, 
email: arto.sahla@sysopen.fi

DISTRIBUTION
Helsinki Exchanges
Major media

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