Sol - Extraordinary General Meeting

SOL - EXTRAORDINARY GENERAL MEETING The Board of Directors of Scandinavia Online AB (publ) ("SOL" or the "Company") (OMSE:SCOL; OSE:SCO) hereby informs that an Extraordinary General Meeting ("EGM") of shareholders will be held on March 16, 2001 at 10.00 a.m. in the Company's premises at Kungsgatan 28 in Stockholm. The EGM will decide upon the election of a new Director of the Board and decide to adjust the exercise price of the existing employee stock option program. Shareholders representing approximately 76% of the votes in the Company have proposed to the EGM to elect Daniel Johannesson (born 1943) as new member of the Board. Daniel Johannesson is General Director for Statens Järnvägar (Swedish Railroads) and has previuously been Managing Director for Telenor Bedrift (Oslo, 1997-98) Telenordia (Stockholm, 1995-97), Industriförvaltnings AB Kinnevik (Stockholm, 1983-92), Fagersta AB (Fagersta, 1982-83) and Halmstads Järnverk (Halmstad, 1979-83). The exercise price is proposed to be adjusted to a level determined by the volume weighted average trading price ("Average Price") of the SOL share price on the OM Stockholm Exchange and the Oslo Stock Exchange during the ten trading days in the period February 15-28, 2001. The Average Price has been calculated to SEK 27 per share. All other terms of the option program will remain unchanged. It is proposed that the exercise price for the options granted to employees will be set at the Average Price for the first third of the vesting options, the second third at 115% of the Average Price and the last third at 130% of the Average Price. Accordingly, the proposed exercise prices has been calculated to SEK 27, SEK 31 and SEK 35 per share, respectively. The Board has decided not to propose to the EGM to decide upon any adjustments in the existing option program for Board Members. The remuneration for the Board will be decided by the Annual General Meeting. In order to participate on the EGM, the shareholder must be registered with the Swedish Securities Registration Center (VPC) as of Tuesday, March 6, 2001 and notify the Company the intention to participate at the EGM no later than Monday, March 12, 2001 at 16.00. The notification of participation and of any assistant should be submitted to the Company at the address Box 1388, 111 93 STOCKHOLM, or by telephone +46 8 58 78 10 00 or by fax +46 8 58 78 10 40. In the notification of participation, please state name, social security number/company registration number, address, telephone number and registered holding. Documentation of eligibility, such as powers of attorney, company certificates, etc, should be enclosed to the notification of participation. Shareholders that hold their shares through a custodian must have their shares re- registered in their own name in the Swedish Securities Registration Center (VPC) in order to have the right to participate at the EGM. Such re-registration must be completed no later than Tuesday, March 6, 2001, and accordingly, the custodian must be promptly notified. This press release is only general information and a notice has been made separately. For more information, please contact: Thomas Ranje, CFO, +46 709 41 54 94, thomas.ranje@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/2001/05/28/20010528BIT00800/bit0002.doc http://www.bit.se/bitonline/2001/05/28/20010528BIT00800/bit0002.pdf