Effnet group AB strengthens its technical team

EFFNET GROUP AB STRENGTHENS ITS TECHNICAL TEAM Effnet Group AB announces today the hiring of two new senior technical managers. The hiring of these two highly experienced persons is intended to strengthen Effnet's technical team to enable it to respond to opportunities globally in a timely manner. This step supports efficient execution of the recently announced strategy for licensing. NAGARAJ JUJARE As Chief Software Architect, Nagaraj Jujare will have primary responsibilty for further developing Effnet's algorithms, data structures and software to maintain and strengthen Effnet's position as a leader in optimized IP packet processing. Nagaraj brings more than 12 years of strong experience in software Development on operating system kernels, embedded systems, real-time operating systems, image processing and pattern recognition. Before joining Effnet, he held a senior engineering role in software development at Nazomi Communications, a Silicon Valley startup. He has previously held engineering roles at companies such as HAL Computer Systems, LynuxWorks, and Ready Systems. He holds a Master's degree in Computer Science from Indian Statistical Institute, India and a Master's degree in Mathematics from University of Hyderabad, India. ULRICH GALL In his role as Director of Engineering at Effnet, Ulrich Gall will lead the technology development and customer engineering efforts in North America. Ulrich brings more than 5 years experience managing development of networking software, algorithms and architectures. As Director of Technology at Perfect.com, Gall was a major contributor to the design and implementation Of the core algorithms and the software architecture. He helped grow the Internet startup to a ninety-person organization in less than a year and was involved in the entire product life cycle from idea to product launch. In addition to his experience in motivating and growing engineering teams in startup environments, he has a strong background in building technology for network devices and supporting sales organizations in licensing technology to customers and partners. Gall is co-inventor of numerous patents covering algorithms, business processes, and software architectures. He holds a Master's degree in Computer Science from University of Erlangen-Nuernberg, Germany. "The hiring of these two very experienced people is in line with our intention to execute our new strategy globally, with a minimum of location-related delays.. To date we have signed three licensing agreements with a total expected revenue in excess of 100 million SEK. Together with our strong cash position, slimmed organization and ongoing discussions with numerous potential licensees to add to our customer base we are very confident in our ability to reach our goals", says Norman Rasmussen, Chairman of the board, and adds "We are presently discussing with some US based senior persons for board membership and hope to announce these shortly, which is part of our plan for the O-list and, in the future, other listings outside of Sweden." About Effnet Effnet develops and licenses IP-packet processing technology designed to resolve bottlenecks in Internet communication and security, thereby creating maximum benefit for licensees. Today, Effnet has offices in four locations: Stockholm, Luleå and Håverud in Sweden; and Mountain View, California, in the U.S. Effnet Group AB is listed on Stockholm's "Nya Marknaden" (New Market). The company has 80 employees including those in the wholly owned subsidiary Wkit, a security services consulting company. Read more about Effnet at www.effnet.com. Read about Wkit at www.wkit.com. For more information, please contact: Norman Rasmussen Tony Svensson Chairman CEO, Effnet Group AB Tel: +1 617 699 8417 Tel. +46(0) 708 33 89 40 Email: nlrasmussn@aol.com Email: tonyb@effnet.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/11/20001011BIT00410/bit0001.pdf http://www.bit.se/bitonline/2000/10/11/20001011BIT00410/bit0002.doc