Report from the Annual General Meeting of Protect Data AB (publ) on Wednesday 9 April 2003

Report from the Annual General Meeting of Protect Data AB (publ) on Wednesday 9 April 2003 The CEO's address to those shareholders present included the following information: 2002 has been characterised by the current recession, and this has had a negative effect on the Protect Data Group. Turnover amounted to SEK 203.7 million, a reduction of 9% compared with the previous year (224.9). However, the measures that were taken meant that, despite the reduction in turnover, results after net financial items improved, amounting to SEK -29.8 million (-62.5). Within the Group's two business areas, Pointsec and Protect Data Solutions, important steps have been taken towards creating profitable operations. Rationalisations and cost cutbacks have been implemented, resulting in the operations now being run more efficiently. It has been possible to maintain Protect Data's strong financial position, and at the end of 2002 the Group reported an equity/assets ratio of 65%, shareholders' equity of SEK 133 million and liquid assets, including unused overdraft facilities and the surplus value in financial investments, amounted to SEK 141 million. The following decisions were taken at the meeting: · Martin Bjäringer, Johan Brenner, Jonas Fredriksson, Roger Gullqvist, Harald Nilsonne and Carl Rosvall were re-elected to the Board of Directors, and Ulrika Hagdahl was elected as a new Board member. Sven Hagströmer had declined re-election. The newly elected Board member, Ulrika Hagdahl, born in 1962, is one of the founders of Orc Software. Orc Software, which is listed on Attract 40 on the Stockholmsbörsen, develops and sells successful software for electronic trading of financial instruments. Ulrika Hagdahl has been employed by Orc Software for 15 years, 10 of which as Managing Director. She is also a board member of Orc Software AB, Orc ExNet AB and IP-Only Telecommunication AB. · The decision was taken that directors' emoluments should be payable at SEK 100,000 to the Chairman and SEK 50,000 to each board member not employed by the company. · Björn Sundkvist from the auditing firm Deloitte & Touche was chosen as the new deputy auditor. Björn Sundkvist, born in 1953, has been an authorised public accountant since 1982 and audits companies including Scribona AB and Green Cargo AB. Björn Sundkvist is also a member of the Swedish Institute of Authorised Public Accountants' Examination Council, as well as the Institute's Professional Ethics Council. · The decision was taken to transfer 236,500 options from the existing options program 2001/2006, originally aimed at employees in the USA and offered according to US practice, and instead to offer them to employees in Europe. The reason is that the options can no longer be used in the USA due to the heavy falls in share prices recorded in recent years. However, the options may be used according to European practice. They will primarily be offered in accordance with the terms that were adopted by the 2001 Annual General Meeting, and will be transferred to employees at the market value on the relevant transfer date. · The decision was taken to issue a new options program encompassing 300,000 options, entitling the holders to subscribe to that number of shares. The program is aimed at current and future employees in the USA. The options are taken up by Protect Data's US subsidiary company Pointsec Mobile Technologies Inc., which is transferring on the options in accordance with the provisions in a "Stock Option Plan". The options are being transferred in accordance with a US model, which involves the options being earned both through length of service and through performance. The options are received free of charge, and the option holder's redemption price corresponds to the share price on the day of allocation, although not less than SEK 10.45. The new program is producing a dilution of approximately 3%. If all the outstanding options programs are taken together, the dilution amounts to approximately 12%. However, two of the programs have such high subscription prices (SEK 316 and SEK 219) that it is unlikely that these options will be utilised. Excluding these two programs, the combined dilution amounts to approximately 9%. · The decision was taken to reduce the share premium reserve by SEK 88,828,960.50 for transfer to unrestricted shareholders' equity. The purpose of the reduction is to creation freedom of action for the company, for example for the repurchase of its own shares and for future dividends to shareholders. The reduction will take place once it has been approved by the courts. The process is expected to take around six months. · The decision was taken to grant general authorisation to the Board to issue a maximum of 1,500,000 new shares in the company up to the next Annual General Meeting. · The decision was taken to submit proposals to the next Annual General Meeting regarding a nomination committee, and the Board's proposal to establish an auditing committee was approved. As previously, remuneration issues will be handled jointly by the Board. · No dividends are being paid out for the 2002 financial year. The complete decisions of the Annual General Meeting are available from the company's offices. At the subsequent statutory board meeting, Martin Bjäringer was elected Chairman and Carl Rosvall Deputy Chairman. For further information, please contact CEO Thomas Bill, Protect Data AB (publ), tel. +46 (0)8-459 54 00, e-mail thomas.bill@protectdata.com. Protect Data AB is a Group offering tailor-made IT security solutions to large companies and organisations. The company is focusing on four business areas: digital identities and resource security, network security, anti-virus and content security, and consultancy services for information security. Within these areas, the company offers comprehensive IT security solutions based on aspects such as access control and encryption systems, anti-virus systems, digital sentry services, firewalls, user identification and content control, secure VPN and PKI solutions, digital signatures and systems for secure transactions. Its subsidiary, Pointsec Mobile Technologies, develops access-controlling and encrypting systems for stationary and portable computers, palmtop computers and smart telephones. Protect Data is the market leader in its business area in the Nordic region and has subsidiaries in Sweden, Norway, Finland, Denmark, the United Kingdom and the USA. Protect Data has approximately 100 employees and is listed on the Stockholm Stock Exchange. Visit our website at: www.protectdata.com. ------------------------------------------------------------ Denna information skickades av Waymaker http://www.waymaker.se Följande filer finns att ladda ned: http://www.waymaker.net/bitonline/2003/04/10/20030410BIT01540/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/10/20030410BIT01540/wkr0002.pdf

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