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  • Novestra: Powernet's management takes over Novestra's shares in the company - no affect on income since the holding has

Novestra: Powernet's management takes over Novestra's shares in the company - no affect on income since the holding has

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NOVESTRA: POWERNET'S MANAGEMENT TAKES OVER NOVESTRA'S SHARES IN THE COMPANY - NO AFFECT ON INCOME SINCE THE HOLDING HAS PREVIOUSLY BEEN WRITTEN OFF In connection with Powernet AB initiating further financing of its company, AB Novestra, which does not intend to participate in the further capitalization, has transferred all its shares and convertibles to the management of Powernet for SEK 1. The deal includes a right for Novestra up until December 31, 2002 to buy back 15% of the shares/convertibles for SEK 1. The sale affects neither Novestra's result nor its shareholders' equity (SEK 19.2/share), since the loss is included in the general reservation made in the annual accounts for 2000/2001. The remaining reservation of MSEK 51 is used to write down the value of Novestra's holding in B2 Bredband AB. "This is a further step in our continued process towards an even greater focus. We expect that a few more exits will be made during the fall and that, in some case, it will lead to minor capital gains, even regarding sales of companies where we have not written down the investment. We believe that these transactions, all in all, will strengthen our funds available for investments," Novestra's President, Thomas Åkerman, says. For further information, please contact Mr Thomas Åkerman, President, AB Novestra, phone No. +46 8 545 017 50. About AB Novestra AB Novestra is one of the leading independent venture capital investment companies in the Nordic region with focus on companies providing enabling network technologies and services for the communications industry. Novestra's portfolio of companies includes B2 Bredband AB, Comintell Holding AB, Continuum Group Ltd, Iquity Systems, Inc, Multilet AB, Netsurvey AB, Qbranch AB, Recollections, Inc. and Strax Holdings, Inc. Novestra's shares are listed on the O-List of Stockholmsbörsen. For information regarding AB Novestra, please see www.novestra.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/06/20010906BIT00390/bit0001.doc http://www.waymaker.net/bitonline/2001/09/06/20010906BIT00390/bit0001.pdf

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