Glocalnet carries out private placement:

Glocalnet carries out private placement: Brummer & Partners invest SEK 15 M Stockholm, Sweden-October 21, 1999 - The Board of Directors of Glocalnet has decided to carry out a private placement pursuant to the authority granted by the Annual General Meeting held on April 20, 1999. An issue of 500,000 Series B shares is being made at a price of SEK 53 each, corresponding to SEK 26.5 M. Brummer & Partners Kapitalförvaltning AB, through its Zenit Fund, is subscribing for 283,000 of the number of shares (about SEK 15 M). Concurrently, Aragon Fondkommission is subscribing for 94,000 shares (about SEK 5 M), Pomona-gruppen AB for 66,000 shares (about SEK 3.5 M) and CMA Europe as AB for 57,000 shares (about SEK 3 M). The terms and conditions for an offering to Glocalnet's employees and Board members were also determined at the Board meeting. The offering has been designed as a combination of a short-term debenture loan with an annual interest of 5% and warrants. The offering comprises 1,000 debentures each with 100 detachable warrants. Each warrant carries rights to subscribe for a new Series B share in the company (par value SEK 0.50) at a subscription price of SEK 110. The application period for the offering applies through November 5, 1999. Subscription of shares in accordance with the warrants can be exercised not later than November 4, 2001. The warrant premium amounts to SEK 2.09, of which the loan portion is SEK 1.00 which falls due for payment on December 30, 1999. Glocalnet AB's stock is listed on the Reuters page of Aragon, a Swedish investment bank and is a next-generation telecommunications company. The Company markets its services together with local marketing partners such as Birka Energi, with which Glocalnet has close cooperation. Glocalnet's headquarters are located in Stockholm, Sweden. For further information please contact: Mr. Mikael Hedlöf Executive Vice President and CFO Glocalnet AB P.O. Box 6896 SE-113 86 Stockholm Visiting address: Västmannagatan 44 A Tel: +46 8 566 34 100 Fax: +46 8 566 34 141 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/1999/10/21/19991021BIT00610/bit0001.doc http://www.bit.se/bitonline/1999/10/21/19991021BIT00610/bit0002.pdf