Negotiations underway with former Wkit owners

Negotiations underway with former Wkit owners Commenting on recent media coverage, Effnet confirms that it is currently in talks with the former owners of Wkit concerning their continued role in the company. Negotiations have gone on for several weeks, in which solutions designed to meet the demands of the parties involved were put forth, primarily concerning the easing of tax-related consequences of the share divestiture that is triggered. These negotiations have been conducted in a constructive manner, so far. The negotiations have also concerned the existing contract between the company and the persons involved in the selling of Wkit. This contract contains a number of commitments and guarantees that are to be met by the sellers after its acquisition by Effnet. Wkit was operated independently from the parent so that the progress towards fulfilling the guarantees could be measured. "We are surprised and puzzled that Lars Olov Guttke has gone to the press; we do not think talking to the press creates a good atmosphere for speedy negotiations. We have been negotiating with them in good faith. We will continue to look for a constructive outcome and hope that one can be found"; says the Chairman of Effnet Group, Norman Rasmussen. "We saw great potential for Wkit when we bought it, and still do, especially with respect to the copy protection program for CD-rom, "Don't Bother Burn" (DBB)". Effnet aims at creating opportunities to explore this potential", says the Vice Presidentof the Effnet Group, Marika Philipson. For additional information please contact: Norman Rasmussen, Chairman tel: +1 617 699 8417 Marika Philipson, vice president tel. 08-564 605 58 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/02/20010302BIT00560/bit0001.doc http://www.bit.se/bitonline/2001/03/02/20010302BIT00560/bit0001.pdf