SOL - acquires minority stake in Zoznam, Slovakias leading internet portal

SOL - ACQUIRES MINORITY STAKE IN ZOZNAM, SLOVAKIA'S LEADING INTERNET PORTAL Scandinavia Online AB ("SOL" or the "Company") (OMSE:SCOL; OSE:SCO) has on July 26, 2000 acquired 49% of Zoznam, s.r.o. ("Zoznam"), the leading Slovak Internet portal. According to the agreement, SOL will buy an initial stake of 49% of Zoznam for a total consideration of USD 1.2 million. In addition, SOL has an option to buy the remaining 51% of Zoznam within 18 months. Zoznam's history dates back to early 1997, and today it is Slovakia's leading Internet portal (www.zoznam.sk) with 4 million monthly page impressions. Zoznam's key business is to aggregate, present and deliver easy navigation to a wide range of communication, e-commerce and content services on the Internet. Zoznam is targeting a mass audience, with a high priority devoted to delivering personalized services to cater for individual preferences and needs of advertisers. Prior to the agreement with SOL, Zoznam was 100% owned by the Czech registered company Corporate Advisors, a.s. "Our goal is to remain the No. 1 Internet site in the Slovak Republic while enhancing our product to encompass new services and revenue streams. Getting access to the concepts, technology and skills of one of Europe's leading portal players will be of vital value for further growth", says Mr. Lukas Alner, Managing Director of Zoznam. "Zoznam has a unique position both as a leading portal player and as a driving force in the development of the Internet in the Slovak Republic", says Birger Steen, CEO of SOL. "Our investment in Zoznam represents SOL's first step towards expansion outside the Nordic countries. It is very much in line with our intention to grow beyond our home markets through acquisitions of leading local players with business models similar to our own", Mr. Steen continues. For more information, please contact: Birger Steen (CEO, SOL), +46 709 35 28 18, birger.steen@scandinaviaonline.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/13/20001213BIT00440/bit0001.doc http://www.bit.se/bitonline/2000/12/13/20001213BIT00440/bit0002.pdf