Glocalnet considering an O-list launch: Glocalnet's IPO in second or third quarter 2000

Glocalnet considering an O-list launch: Glocalnet's IPO in second or third quarter 2000 Stockholm, Sweden-January 28, 2000 - Glocalnet's Board has decided to evaluate the prospects of quotation of the company's share on OM Stockholm Exchange's O-list. The company has appointed MNB Maizels, a MeritaNordbanken subsidiary, as corporate advisor in this process. "Glocalnet is in a strong expansion phase. We are already one of Sweden's leading new telecom operators. Our business model is based on partnerships, allowing us to expand rapidly while maintaining high cost- efficiency. Furthermore, we enjoy a head start on our competitors, as our operations are based exclusively on an IP platform. This also allows our service offerings to expand briskly and cost efficiently," said Stefan Krook, Glocalnet's CEO and one of the main owners. "This means that we are very well positioned for expansion in Sweden and internationally. We have recently decided to consolidate our capital base through a private placement, which will enable us to initiate forceful marketing and services development initiatives during the year. In order to up the pace of expansion in a longer perspective and to transfer our concept to other markets, however, we will need further capital. Accordingly, we have decided to implement a public offering and to quote the share on a recognized market place. We have concluded that, for the present, OM Stockholm Exchange's O-list is the most advantageous market place for Glocalnet. Our ambition is to effect the listing within 4-8 months- i.e. during the second or third quarter of 2000- provided that stock market conditions remain favorable," said Mr. Krook. Glocalnet AB, quoted on Aragon Fondkommission's Reuters page, is a next- generation telecom player. Glocalnet markets its services in close collaboration with local market partners including Birka Energi and Bredbandsbolaget. Glocalnet is headquartered in Stockholm, Sweden. For further information please contact: Mr. Stefan Krook Chief Executive Officer 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 stefan.krook@glocalnet.com mikael.hedlof@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/2000/01/28/20000128BIT00640/bit0001.doc http://www.bit.se/bitonline/2000/01/28/20000128BIT00640/bit0002.pdf