Glocalnet to Open in Denmark

Glocalnet to Open in Denmark Stockholm, Sweden-May 25, 2000 - Glocalnet's management has taken a decision to establish company operations in Denmark. During the summer and autumn of 2000, employees will be recruited for a new Danish subsidiary company. Glocalnet's communication services will be offered to Danish households and companies starting in the fourth quarter of 2000. Glocalnet has succeeded in establishing a strong trademark within telephony in Sweden and now services over 80,000 customers. Glocalnet's IP platform has provided the company with the opportunity of acting as price leader for private telephony, at the same time as it has supported rapid and cost efficient expansion. Future expansion * both as concerns new customers and new, more advanced services * will occur both in Sweden and abroad. The first country outside Sweden for this new establishment will be Denmark. "The Danish market is currently more service-fuelled than the Swedish market. In addition, the integration of fixed and mobile telephony services has progressed considerably farther. Our concept therefore possesses all the preconditions for success in Denmark as it does in Sweden. Thanks to our business model and our technological platform, we can rapidly establish operations as soon as we enter a new country. As early as the fourth quarter of this year we will be able to offer our services to Danish households and companies" says Glocalnet's CEO, Stefan Krook. Glocalnet develops and produces communication services sold direct to end- customers or alongside marketing partners. Glocalnet intends to become Sweden's third largest fixed private telephony player this year. The company's vision is to become a leading northern European operator within Internet-based services. Glocalnet has strategic collaborations with players such as Cisco Systems and Portal Software. Glocalnet is headquartered in Stockholm, Sweden; the Glocalnet share is quoted on Nya Marknaden. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/25/20000525BIT00250/bit0001.doc http://www.bit.se/bitonline/2000/05/25/20000525BIT00250/bit0002.pdf