VC firm Provider invests in digital music company

Stockholm, May 16, 2006 – The Swedish Venture Capital firm Provider Venture Partners invests 30 million SEK (3.2 million Euro) in the digital music company Musicbrigade.

Founded in 1999, Musicbrigade has become one of the leading players on the fast growing digital music market in Europe. Recently the company expanded its offering to comprise downloading of music video and audio on both web and mobile platforms. “The music industry is rapidly shifting towards digital distribution, moving away from traditional formats. We believe that the market is going to demand a one-stop-shop for all digital music online, including audio and video, and for all types of technical devices. With its strong offering and distribution strategy, Musicbrigade has an excellent position to expand further on the European market, says Richard Hellekant, Investment manager at Provider”. Musicbrigade has one of the largest digital music video libraries in the world and distributes its service offering through a number of partners; broadband operators (Bredbandsbolaget, Telenor, Chello, Telewest/NTL, a o), portals (Microsoft Windows Media, On-line Spotlight, ao), mobile operators (3, Telenor/Vodafone, a o) as well as the hardware manufacturer Fujitsu Siemens Computers. “Provider’s investment allows us to substantially increase the presence on the European market. Provider also provides vast knowledge of the Internet and telecom industries, says Wilhelm Wendt, Chairman and founder of Musicbrigade.” With the invested 30 million SEK Provider acquires 28 % of Musicbrigade. For more information please contact: Richard Hellekant, Investment Manager, Provider Venture Partners, phone +46 (0) 705 141 664 or email: richard.hellekant@providerventure.com Wilhelm Wendt, Chairman and founder Musicbrigade, phone +46 (0) 705 614 145 ----------------------------------------------------------------------------------------------------------