Agreement between Frontec and UPEC Data

Agreement between Frontec and UPEC Data Frontec and UPEC reached an agreement in principle on 10 July 1998 to merge the two companies. Since then these companies have been in discussion on how this agreement in principle could be implemented. The parties have come to the joint conclusion that the agreement in principle cannot be brought to fruition. The parties have, however, continued their discussions and this has now led to an agreement where Frontec will acquire UPEC and all of its subsidiaries. The final agreement requires the board of directors preparation. A share holders meeting of Frontec is to be called so that the agreement can be finally approved. "It is our opinion that the acquisition will provide a beneficial contribution to Frontec's development," commented Frontec's Managing Director, Bengt Wallentin. During the negotiations we have become even more convinced that a consolidation of Frontec's and UPEC's resources will provide industrial added-value and is structurally appropriate. Further details will be published in connection with the extraordinary general meeting to be called. For more information: Bertil Persson - tel. +46 8 470 2000 or Carl-Erland Schröder - tel. +46 8 470 2262.