Tony Svensson Named President and CEO of Effnet Inc.

Tony Svensson Named President and CEO of Effnet Inc. Swedish IP Packet-Processing Expert Builds US Operations MOUNTAIN VIEW, Calif. - May 16, 2000 - Effnet Inc., the US based subsidiary of Swedish efficient networking provider Effnet Group AB, announced that Tony Svensson, former Vice President of Sales and Business Development of Effnet Inc., has been named the President and CEO of Effnet Inc. Svensson will manage Effnet's U.S. operations out of Mountain View, California. A 20-year Silicon Valley veteran, Svensson has held various sales, marketing and engineering positions at a variety of area start-ups. As a Vice President, he spearheaded a successful corporate repositioning for Crimson Consulting Group. He led numerous consulting engagements at companies such as Intel, Network Appliance, Nortel, Lucent and Sun Microsystems. He holds an MBA from Stanford Graduate School of Business and an MSCE from Chalmers University of Technology in Sweden. "Fundamentally, we bring high performance networking solutions in software that others can only do in hardware. My goal is to address the increasing demand of our patented technology in the American market, primarily by strengthening our Technology Partner Program," said Svensson. "There is a lot of room to make deals that are profitable for both our partners and ourselves, while delivering increasing value to the Internet, both at the core and at the edge." Svensson will succeed former Effnet Inc. CEO Michael Säw, who is concluding a successful six-month stay with the US branch of Effnet. "Tony's expertise in corporate high technology operations is directly applicable to our new technology focus," said Säw. "I am extremely confident in his abilities to capitalize on the strength of our technology and business model." Having established Effnet Inc.'s Technology Partner Program, a long-term licensing program designed to increase functionality and dramatically decrease time to market for communication chip providers, Säw will remain in an advisory role for Effnet Inc. His next project will be to launch Kipling Systems later this year. About Effnet Effnet Inc. offers networking technology that provides optimal efficiency, security and flexibility. By using highly efficient algorithms and data structures, Effnet breaks conventional performance barriers for routing table lookups and filtering operations, delivering low cost, high performance networking and telecommunications components and solutions. Effnet Group AB is a public company, listed on the Stockholm Stock Exchange's New Market, symbol EFFN. The company was founded in 1997, with research and development based in Luleå, Sweden. Currently at over eighty employees, the company is expanding rapidly. In 1998, the company opened sales and marketing offices in Boston, Massachusetts and an additional office in Stockholm. In January 2000, Effnet opened an office in Mountain View, California. Through the acquisition of WKit in April 2000, Effnet now also has an office in Håverud, Sweden. The company's technology has been field tested and proven via a line of router and firewall products currently marketed in Sweden and other European countries. The success of Effnet's technology is reflected by top industry awards and the growth of its stock by 824% in 1999. For more information about Effnet, please contact Tomas Althén, CEO of Effnet Group AB at +46 708 151 615 or Jamil Moledina at (415) 908 0444, or visit the website 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/2000/05/16/20000516BIT00420/bit0001.doc http://www.bit.se/bitonline/2000/05/16/20000516BIT00420/bit0002.pdf