Glocalnet-A Further Private Placement: Swedish and International Investors Inject SEK 80 m

Glocalnet- A Further Private Placement: Swedish and International Investors Inject SEK 80 m Stockholm, Sweden-March 1, 2000 - Glocalnet's Board has on February 29 resolved to implement a further private placement, within the framework of the authorization granted by its AGM on April 20, 1999. This latest corporate action encompasses the issue of 212,000 B shares at a price of SEK 380 per share, totaling SEK 80.5 m. The issue price corresponds to the previous day's closing price. An US-based institutional investor intend to subscribe for 80,000 shares, or SEK 30.4 m, fund managers Catella Fonder and Aragon Fonder for 79,000 shares (SEK 30 m) and 27,500 shares (SEK 10.5 m) respectively and venture capitalist Cognition AB for 25,500 shares (SEK 9.7 m). Commenting on the private placement, Mikael Hedlöf, Glocalnet's Executive Vice President and Chief Financial Officer, said: "I'm pleased we can consolidate our institutional ownership further. This private placement raises capital for us to increase our rate of expansion, while also strengthening our financial position ahead of our IPO." 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. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/01/20000301BIT00230/bit0001.doc http://www.bit.se/bitonline/2000/03/01/20000301BIT00230/bit0002.pdf