Chief Operating Officer appointed in Glocalnet

Chief Operating Officer appointed in Glocalnet Mikael Hedlöf has been appointed Vice President & Chief Operating Officer within Glocalnet AB (publ). Mikael Hedlöf has extensive experience within the telecommunication industry, and from different management positions. Mikael Hedlöf has for the past 10 years been working for Ericsson with several management responsibilities both internationally and in Sweden, including as a member of the management team for the global business unit for datacom networks and IP services. "I'm looking forward to the opportunity to be working at the very forefront of convergence between telecommunications and data communications, as IP telephony is changing the arena for all operators. Glocalnet certainly has the potential of being a major player in this market, and it's going to be a very interesting and rewarding journey", says Mikael Hedlöf. "Mikael has a great track record in the industry. I am convinced that his in- depth industry knowledge and management experience will further strengthen our operations, and thus allow us to successfully continue our growth", comments Stefan Krook, Chief Executive Officer in Glocalnet. Glocalnet is a next-generation telecommunication company that combines telecommunications and IP networking technology to produce flexible and cost- effective services. Currently, the company is building a Pan-European network for Voice-over-IP services. Glocalnet is an initiator of a global Voice-over- IP alliance covering four continents. Glocalnet's headquarters are located in Stockholm, Sweden. The Company's stock is listed on the Reuters page of Aragon, a Swedish investment bank. For further information please contact: Stefan Krook, Chief Executive Officer Glocalnet AB Hälsingegatan 40, 113 43 Stockholm, Sweden Tel: +46 8 566 34 100 Fax: +46 8 566 34 141 http;//www.glocalnet.com