Novestra and Time Vision cancel deal plans

NOVESTRA AND TIME VISION CANCEL DEAL PLANS Novestra and TIME vision have decided today not to undertake the planned deal by which Novestra was to acquire all of the shares in TIME Vision through payment with its own shares. "After closer evaluation and extensive negotiations, a number of questions have been raised which have made us uncertain that the merger would produce the benefits that constituted the decisive reasons for the deal. Against this background, it is probably better for both Novestra and TIME Vision to consider other alternatives", Novestra's CEO Theodor Dalenson says. "Our timeline for an official listing on the OM Stockholm Exchange is not affected by our stance concerning TIME Vision or by the current market conditions. Our relatively low risk profile in the investment portfolio and our large cash position may constitute an advantage for Novestra and Evestra in the future," continues Dalenson. Novestra is one of the leading venture capital investment firms in the Nordic countries primarily with a focus on companies providing enabling services to the network economy. Novestra's portfolio of companies includes Bredbandsbolaget, Fanglobe.com, IQUITY Systems, Jupiter Communications, Mobilestop.com, NetSurvey, PowerNet and Qbranch. Novestras shares are traded on the OM Stockholm Exchange New Market. For more information regarding AB Novestra, please refer to www.novestra.com, and for further enquiries, please contact Mr Theodor Dalenson, CEO phone No. +46 8 545 017 50. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/26/20000426BIT01500/bit0001.doc http://www.bit.se/bitonline/2000/04/26/20000426BIT01500/bit0002.pdf