Contract finalised between Information Highway and ELK in Denmark

Contract finalised between Information Highway and ELK in Denmark Information Highway, which provides Internet-based business solutions, has today signed an agreement for the acquisition of Danish Internet company ELK's operations, with 28 employees and core expertise within complex Internet solutions. The purchase price will be SEK 55 million paid in the form of newly issued shares in Information Highway, plus SEK 15 million in cash. rd The contract will take effect on January 3 , 2000, when ELK will be integrated with the danish company Information Highway AS, raising the total number of employees to 40. Morten Elk will become the new CEO. ELK was founded in 1996 and supplies integrated solutions encompassing the full range from direct customer contact to internal production systems and professionally designed business solutions. The company has won a number of awards and brings customers such as Falck, Scandlines, Compaq, Den Danske Bank, PFA Pension, Oticon, Codan and Egmont Online A/S. Including ELK and Finnish Internet company Netmill, the Information Highway group currently employs approximately 420 people. By the end of the year the number of employees will be approximately 450 which is a higher figure than expected in recent forecasts. Sundbyberg, Sweden, November 29th, 1999 Information Highway AB (publ) For further information, please contact: www.elk.dk Göran Wågström, Information Highway's President, tel: +46 (0)8 635 1500 Ulf Karnell, VP Corp. Comm., Information Highway, tel + 46 (0)70 514 1739 Morten Elk, ELK's CEO, tel + 45 38 19 26 30, morten.elk@elk.dk Information Highway assists companies to exploit the business opportunities presented by the new network economy. We consolidate our clients' competitiveness, making them successful in the digital arena by providing Internet-based solutions characterised by business expertise, creativity and leading-edge technology skills. Information Highway was founded in 1994 and currently employs over 330 people in its Business, Interactive and Technology Consulting business areas in nine locations in Sweden, as well as in Norway, Denmark and the UK. The share is quoted on the Stockholm Stock Exchange's O-list. Göran Wågström is the group CEO. Information Highway has a client base of about 200 businesses, and provides solutions for ABB, Ericsson, Telia, ATG, Fondex, SAS, Stadium, SMHI and Locus Medicus. [More information available at http://www.infohwy.se/ihen/] ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/29/19991129BIT00700/bit0001.doc http://www.bit.se/bitonline/1999/11/29/19991129BIT00700/bit0002.pdf