Framfab extraordinary general meeting approves sale of Framfab Labs in Lund

Framfab extraordinary general meeting approves sale of Framfab Labs in Lund The extraordinary general meeting at Framfab today elected to approve the proposal of the Board regarding the new issue of shares in Lund Labs, bypassing preferential rights for shareholders. This deal covers the Lund branch of Framfab Labs, employing 54 members of staff, which developed - among other things - the BRIKKS Internet portal platform. The management, staff and external financial backers will contribute SEK 4 million to the new issue and subsequently control 80.1 per cent of shares in the newly formed company Lund Labs AB. The remaining 19.9 per cent will be owned by Framfab. This deal will reduce costs for Framfab by around SEK 3.5 million a month. At the same time, opportunities will be created for future income for Framfab on account of payment of a royalty on the turnover of Lund Labs. This will amount to 2 per cent of the turnover of Lund Labs as of 2002 and continue for ten years, on the condition that the turnover is in excess of SEK 30 million. Framfab has loaned SEK 7,5 million to Lund Labs as part of the deal. A convertible note has been issued as security. This gives Framfab the option, within three years of the contract date, of converting the amount payable into a 10 per cent shareholding in Lund Labs as an alternative to repayment. The deal also includes strategic co-operation and licence agreements which will allow Framfab customers to utilise BRIKKS in the future as well. The general meeting also approved the proposal of the Board regarding the transfer of all shares in M.O.R., Marknads- och Reklambyrån AB, from the Framtidsfabriken subsidiary Rauer & Hammar AB to the management and staff at M.O.R., Marknads- och Reklambyrån AB. In addition, the general meeting approved the proposal of the Board regarding the transfer of all shares in Framfab AS in Norway to Skipper Invest AS. Furthermore, the meeting elected to approve the proposal of the Board regarding the transfer of 70 per cent of shares in Plinq B.V. from the Framtidsfabriken subsidiary Netlinq Framfab N.V. to Stichting Plebs Incorporated, holder of 30 per cent of shares. All of the above deals are entirely in line with the plan to focus Framfab's activities on Internet consulting, which the company has already outlined. For more information, please contact: Johan Wall, President and CEO Framfab Tel. +46 8 545 258 00 Johan Haeggman, Director of Finance, Tel. +46 8 545 258 00 Framfab press service: +46 70 973 75 16 Framfab is a global Internet consultancy, and its business concept involves the supply of digital services based on Internet technology. Framfab has offices in Denmark, France, the United Kingdom, the Netherlands, Sweden and Germany. Many well-known global companies work with Framfab: 3M, AstraZeneca, AXA, Bosch, Electrolux, Orange, I K E A, le Groupe Pernod Ricard, Kellogg's, Packard-Bell, Nike Europe, SAAB, SAS, BT Ignite, Volvo Car Corporation and the Volvo Group. Framfab is listed on the Attract 40 list (ticker FTID) of the Stockholm Stock Exchange. For more information, visit our website at http://www.framfab.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/08/08/20010808BIT00710/bit0001.doc http://www.waymaker.net/bitonline/2001/08/08/20010808BIT00710/bit0001.pdf