Glocalnet Flotation

Launch date: June 5 Glocalnet Flotation Stockholm, Sweden-May 26, 2000 - On May 25, 2000, the Companies Committee approved Glocalnet's application for quotation on OM Stockholm Exchange's O List. Glocalnet - which develops and provides communication services for households and enterprises - has expanded robustly over the last year. To secure access to risk capital for the long term and to ease public and institutional trading in its stock, Glocalnet will be quoted on the O List. Yesterday, OM Stockholm Exchange's Companies Committee approved Glocalnet's application for quotation on its O List. The company has made strong progress in the last year with a burgeoning customer base now numbering over 80,000, and will be quoted from June 5. "We've evolved from a pioneer set-up to securing a position as one of the main private market-focused contenders in Sweden in just three years, and we're proud of the seal of quality O List quotation represents," commented Stefan Krook, Glocalnet's CEO. Glocalnet now enjoys secure ownership and healthy ownership diversification, with major shareholders including venture capitalist Catella IT, asset manager Brummer & Partners (through its Zenitfond hedge fund), Core Ventures, Cognition, Nomura, plus co-founders Stefan Krook and Andrin Bachmann. Glocalnet has a total of over 2,000 shareholders, and after completing share issues totaling SEK 160 m, the company's financial position is solid. "According to our business plan, our customer base will grow by some 100% annually over the next three years. O List quotation means better access to risk capital in future funding rounds, while simultaneously consolidating our ability to finance potential acquisitions with our own shares," continues Mr. Krook. The final day of trading on the alternative Nya Marknaden list will be June 2. Coincident with the listing, all A shares will be reclassified to B shares, with subsequently, Glocalnet having a single class of stock. The ticker code of the share will be GLOC-B with a trading lot of 500 shares. More information will be available in the listing prospectus, available on the Internet at www.glocalnet.com from May 29 onwards. Glocalnet develops and provides communication services sold directly to the end customer or alongside marketing partners. This year, Glocalnet intends to become Sweden's third largest fixed private telephony player. The company's vision is to become a leading operator of Internet-based services in Northern Europe. Glocalnet has strategic collaborations with corporations such as Cisco Systems and Portal Software. Glocalnet is headquartered in Stockholm, Sweden, and the company's stock is currently quoted on Stockholm's alternative market, Nya Marknaden. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/26/20000526BIT00190/bit0001.doc http://www.bit.se/bitonline/2000/05/26/20000526BIT00190/bit0002.pdf