Tele2 AB's acquisition of baltkom GSM approved

FOR IMMEDIATE RELEASE Tuesday, October 24, 2000 TELE2 AB'S ACQUISITION OF BALTKOM GSM APPROVED New York and Stockholm - October 24, 2000 - NetCom AB (Publ) ("NetCom", "the Group") (Nasdaq Stock Market: NECSB), a leading alternative pan- European provider of telecommunications and related services, today announced that the acquisition of Baltkom GSM, the second largest mobile telecommunications company in Latvia, by its subsidiary Tele2 AB, has been approved by the Ministry of Transport of the Republic of Latvia. NetCom announced that it had entered into an agreement to acquire 100% of the share capital of Baltkom GSM for approximately US$277 million on October 3, 2000. NetCom, formed in 1993, is a leading alternative pan-European telecommunications company offering fixed and mobile telephony, data network and internet services under the brands Tele2, Tango, Comviq and Q- GSM to over nine million people in 20 countries. NetCom operates Datametrix, which specializes in systems integration, Optimal Telecom, 3C Communications, operating public pay telephones and public internet services; Transac, providing billing and transaction processing services; C³, offering co-branded pre-paid calling cards and IntelliNet, the price- guaranteed residential router device. The Group also offers cable television services in Sweden, Estonia and Lithuania under the brands Kabelvision, Tele2 and C-Gates, and together with Modern Times Group, owns the internet portal The Company is listed on the Stockholm Stock Exchange, under NCOMA and NCOMB, and has ADRs listed on the Nasdaq Stock Market, under NECSA and NECSB. Contacts: Lars-Johan Jarnheimer Telephone: + 46 8 5626 4000 President and CEO, NetCom AB Johnny Svedberg Telephone: +46 8 5626 4683 Vice President, New Markets, NetCom AB Andrew Best Telephone: + 44 (0)20 7321 5010 Shared Value Ltd, London Visit our homepage: ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: