SOL - Closing of Netbonus operation

SOL - CLOSING OF NETBONUS OPERATION The Board of Directors of Scandinavia Online AB ("SOL" or "the Company") has decided to wind up the operations conducted within the e- commerce subsidiary Netbonus Holding AB ("Netbonus"). The closing of Netbonus will affect a total of 12 employees in Sweden, Norway and Denmark. The total net wind-up costs are calculated to SEK 5 million for the SOL Group, for which a provision will be made in the financial year 2000 accounts. "The wind-up of Netbonus is a part of the ongoing process of focusing SOL on its core portal business. While this eliminates our direct involvement in consumer retailing on the Internet, we experience ongoing strong growth in consumer demand for our core portal services, and we are continuing to strengthen our position as the leading portal network in the Nordic countries" says Birger Steen, CEO of SOL. For further information, please contact: Birger Steen (CEO), +46 709 35 28 18, Thomas Ranje (CFO), +46 709 41 54 94, ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: