Glocalnet to offer IP telephony in Spain

Glocalnet to offer IP telephony in Spain Glocalnet today announced that it is cooperating with an Internet Service Provider (ISP) in Spain with the goal of offering IP telephony services on the st 1 of December 1998, the date when the Spanish telecommunications market is deregulated for voice services. Currently, the companies are setting up commercial trials. "The ISP market in Spain is very fragmented with lots of ISP's that utilize the network of Telefonica to offer their services. The partner we have selected is one of the few ISP's operating their own IP network, which will facilitate the build-out of a high quality IP telephony network", says Stefan Krook, CEO of Glocalnet. "We are expecting a race between new telcos in Spain in conjunction with the liberalization. In this race we have now secured a position", says Krook. Glocalnet is a next-generation telecommunication company that combines telecommunications and IP networking technology to produce flexible and cost- effective services. Currently, the company is building a Pan-European network for Voice-over-IP services. Glocalnet's customers are ISPs, system integrators, carriers and other organizations that intend to offer IP telephony services. Glocalnet is an initiator of a global Voice-over-IP alliance covering four continents. Glocalnet's headquarters are located in Stockholm, Sweden. The Company's stock is listed on the Reuters page of Aragon, a Swedish investment bank. For further information please contact: Stefan Krook Chief Executive Officer Hanna Bergholm Information manager Glocalnet AB (publ) Hälsingegatan 40, 113 43 Stockholm, Sweden Tel: +46 8 566 34 100 Fax: +46 8 566 34 141 http://www.glocalnet.com E-mail: info@glocalnet.com