Novestra invests in system integrator for ip networks

NOVESTRA INVESTS IN SYSTEM INTEGRATOR FOR IP NETWORKS In a directed new share issue to AB Novestra, Novestra has acquired 30% of the recently founded company 34 Networks AB. 34 Networks is specialised in developing IP based solutions for a wider supply of services (voice, data, video) in the new generation's fixed and mobile networks. The company's solutions will be based on products from a few selected vendors. An essential part of the company's business consists of commissioned strategy analyses from major clients in Europe and the U.S. and it is within this area that the company has been granted its first commissions. At present, the company has engaged ten senior staff members with substantial experience within this sector. As Managing Director, the company has appointed Mr Guido van Nispen who has previously been working with several European telecom operators within areas of responsibility such as strategy and implementation of large business projects within telecom. Before joining the company, Mr van Nispen was Director at British Telecom Ventures for Germany and the Netherlands. "We estimate that a large number of firms within the media, technology and telecom sectors require the kind of qualified and specialised knowledge that 34 Networks can offer. The expertise and the experience within the company is at present hard to find elsewhere and we believe that the company has excellent opportunities within the upcoming years' area of growth, i.e. converged IP based fixed and mobile networks. We also believe that our relation with 34 Networks could be valuable for some of our portfolio companies," Novestra's President, Thomas Åkerman, says. For further information, please contact Thomas Åkerman, President of AB Novestra, phone No. +46 8 545 017 50. About Novestra AB Novestra is one of the leading independent venture capital investment companies in the Nordic region with focus on companies providing enabling services and technologies for the communications industry. Novestra's portfolio of companies includes B2 Bredband AB, Comintell Holding AB, Continuum Group Ltd, Fanglobe Inc, Iquity Systems Inc, Multilet AB, Netsurvey AB, PowerNet AB, Qbranch AB and Strax Holding Inc. Novestra's shares are listed on the O-List of Stockholmsborsen. For information regarding AB Novestra, please see www.novestra.com . ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/03/20010503BIT00550/bit0002.doc http://www.bit.se/bitonline/2001/05/03/20010503BIT00550/bit0002.pdf