Report from NeoNet AB’s Annual General Meeting

Distribution of earnings The general meeting resolved that the share premium reserve shall be reduced with SEK 80,685,250 and approved the Board of Director’s proposal of no dividend to the shareholders. Board of Directors The general meeting resolved that, until the close of the next annual general meeting, the Board of Directors shall consist of six members. Hans Karlsson, Staffan Persson, Kari Lotsberg and Thord Wilkne were re-elected as board members. In addition, two new members Nils-Robert Persson and Gerard Versteegh, where elected to the Board of Directors. Mats Sundström had declined re-election. Nicolas de Champs is the employees’ co-opted representative on the Board of Directors. The general meeting resolved that SEK 730,000 be paid as remuneration to the Board of Directors for the period until the expiry of the next Annual General Meeting, the aforesaid amount to be allocated among the members of the Board of Directors as the Board deems appropriate. At the Board meeting following the Annual General Meeting, Staffan Persson was elected Chairman of the Board. CEO presentation Simon Nathanson, CEO of NeoNet, presented the financial reports for first quarter 2005 and for the full year 2004. Find the presentation at www.neonet.biz under Investor Relations / Presentations. For further information, please contact: Simon Nathanson CEO of NeoNet Tel. +46 8 454 15 51 simon.nathanson@neonet.biz