Industrial Development Fund grants SEK 25 M for project financing

Industrial Development Fund grants SEK 25 M for project financing Glocalnet has been granted a loan of SEK 25 M from the Swedish Industrial Development Fund. The loan is intended to finance selected projects and will be paid in installments of SEK 5 M. "This facilitates a further acceleration of our expansion, " says Mikael Hedlöf, Executive Vice President and CFO at Glocalnet. "The selected projects are aimed at reinforcing our market efforts and developing new telephony services. Payment is linked to certain subprojects having been implemented. We plan that these will be carried out so that the total loan amount can be disbursed during the first half of 2000." 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. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/21/20000121BIT00570/bit0001.doc http://www.bit.se/bitonline/2000/01/21/20000121BIT00570/bit0002.pdf