Franco Fedeli to Join Glocalnet€s Board

Glocalnet's EGM resolves: Franco Fedeli to Join Glocalnet's Board Stockholm, Sweden-February 16, 2000 - Glocalnet's Extraordinary General Meeting of February 16, 2000 approved the appointment of Franco Fedeli, CEO of Svenska Koppar AB, as a Board member. The EGM also approved the private placement proposed by the Board, which encompasses 500,000 shares at a subscription price of SEK 160, the average share price between January 1 and January 20, 2000, when the Board decided to propose the issue. Overall, this private placement will raise SEK 80 m for Glocalnet. Venture capitalist Cognition AB has subscribed for 312,500 shares (SEK 50 m), asset manager Brummer & Partners Kapitalförvaltning AB for 50,000 shares (SEK 8 m) through its Zenith Fund (Zenitfonden) and Nomura International plc for 137,500 shares (SEK 22 m). Glocalnet AB, quoted on Aragon Fondkommission's Reuters page, is a next- generation telco. Glocalnet markets its services in close collaboration with local market partners including Birka Energi and Bredbandsbolaget. Glocalnet is headquartered in Stockholm, Sweden. For more information, please contact: Stefan Krook Chief Executive Officer Mikael Hedlöf Executive Vice President and CFO Glocalnet AB Box 6896 Västmannagatan 44A 113 86 Stockholm Sweden Tel: +46 (0)8 566 34 100 Fax: +46 (0)8 566 34 141 Mobile: +46 (0)709 279 144 E-mail: info@glocalnet.com Home page: www.glocalnet.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/16/20000216BIT00910/bit0001.doc http://www.bit.se/bitonline/2000/02/16/20000216BIT00910/bit0002.pdf