Foreign and Swedish institutions increase ownership
FOREIGN AND SWEDISH INSTITUTIONS INCREASE OWNERSHIP After Wednesday's placement of 1,200,000 newly issued shares was significantly oversubscribed, many institutions showed continued buying interest. Both Swedish and foreign institutions have acquired additional shares after the issue. Due to this great interest, two of Effnet's researchers, Svante Carlsson and Mikael Degermark, each sold 90,000 shares. The transactions were carried out by Hagströmer & Qviberg Fondkommission AB. INVESCO Asset Management Limited has acquired a total of 523,600 shares in Effnet, corresponding to slightly more than 5 percent of the total number of shares after the issue. INVESCO is a member of the AMVESCAP Group, one of the world's largest listed investment management companies, managing more than USD 280 billion in assets. Additional information about INVESCO is available at www.amvescap.com. "I view the heavy interest from many large Swedish and foreign institutions as strong mark of confidence on behalf of the financial market," says Tomas Althén, CEO of Effnet Group. "Attracting this type of owners is what we need in our move toward a listing in the USA." For further questions please contact: Tomas Althén, CEO of Effnet Group AB, Tel: +46 708 15 16 15 Effnet has 50 employees and is expanding rapidly. Research and development is currently based in Luleå. In 1998, the company opened a sales and marketing office in Boston, Massachusetts and an additional office in Stockholm, Sweden. The company's technology has been field tested and proven via a line of firewall products initially marketed exclusively in Sweden. Server-based, PCI add-on products based on Effnet's algorithm will become available in the United States in the coming months. Additional information about Effnet is available through the Web at www.effnet.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/10/19991210BIT00120/bit0001.doc http://www.bit.se/bitonline/1999/12/10/19991210BIT00120/bit0002.pdf