Effnet Announces Changes to its Board of Directors

Effnet Announces Changes to its Board of Directors Norman Rasmussen, who has been a board member since November 1998 and chairman since June 2000, announced his decision to step down as chairman effective immediately. Mr. Rasmussen will, however, keep his seat on Effnet's board of directors. Magnus Ryde, an Effnet board member since November 2000, was elected by the board to fill the position of chairman until the next shareholders' meeting; this vote was taken at a general board meeting on October 15, 2001. Göran Larsson, an Effnet board member since April 2001, was elected to the post of vice chairman of the board at the same October 15 meeting. "My 73rd birthday is coming up in less than two months," said Rasmussen. "It is time for me to relax a bit more than the Effnet chairmanship has permitted, so I am stepping down. I will, however, continue to support Effnet as a regular board member, " he continued. "I have a high opinion of our management team and our new chairman, and I will continue to work diligently to help steer the company through its challenges on the road ahead." "As the new chairman, I will continue to support our focus on wireless networks and Effnet's unique technologies in these areas," said Magnus Ryde. "To help accelerate our path to profitability, I have asked Göran Larson and CEO, Örjan Grinndal, to assist me in continuing to streamline operations and further develop our strategies." About Effnet Effnet innovates and licenses award-winning key technologies that resolve data speed, efficiency and security challenges in Internet Protocol (IP) networking and IT security. Effnet are technology leaders in the area of Header Compression, which increases the efficiency in IP- networks. Effnet's modular IP packet processing technology -- the EffnetEdgetm Toolkit -- as well as its complete firewall and router technology for hardware manufacturers, enable optimized performance. The wholly owned subsidiary, Wkit Security, offers data encryption and copy protection technologies, and security audit services for public and private sector companies. With approx. 70 employees, the Effnet group operates in Stockholm, Luleå and Håverud, Sweden, and Tucson, Arizona and in Silicon Valley, California. Effnet Group AB shares are traded on Sweden's Nya Marknaden (symbol: EFFN). Read more about Effnet at www.effnet.com. Read about Wkit at www.wkit.com. Effnet, the Effnet logo, EffnetEdge and Wkit are trademarks or registered trademarks of Effnet AB and Effnet, Inc. Other brand names may be the trademarks of their respective owners. For additional information please contact: Örjan Grinndal, CEO +46-(0)8-564 605 50, +46-(0)709-57 53 75 Marika Philipson, CFO +46-(0)8-564 605 50, +46-(0)708-32 44 56 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/18/20011018BIT00450/bit0001.doc http://www.waymaker.net/bitonline/2001/10/18/20011018BIT00450/bit0001.pdf