Structural changes at Frontec continue

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Structural changes at Frontec continue Frontec is continuing the structural changes begun within the Group by implementing an action program that will reduce the staff by approximately 100 employees. The aim of the program is to create the right cost structure for operations prior to next year. The action program mainly covers operations that have historically generated poor profitability and segments of the market that are expected to decline. The divestment and liquidation of non-core businesses will continue. These efforts are in line with the Group's strategy and focus on its core businesses, eBusiness and BlueLabs, and represent an accommodation to the new economic climate. "We want to ensure that the Group is the right size in expectation of poorer economic conditions next year and in order to retain our financial freedom," says Frontec CEO Per Tjernberg. Further information on the action program will be released in connection with the interim report on November 23, 2001. More information: Per Tjernberg, CEO, Tel. +46 8 733 7505. Madelene Sandgren, Director of Communications, +46 8 733 7524. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/31/20011031BIT01250/bit0002.doc http://www.waymaker.net/bitonline/2001/10/31/20011031BIT01250/bit0002.pdf