Novestra strengthens its industrial focus

NOVESTRA STRENGTHENS ITS INDUSTRIAL FOCUS - SIGNS COLLABORATION AGREEMENT WITH ERICSSON BUSINESS INNOVATION AND SECURES PARTNERS FOR CO-INVESTMENTS As a first step towards an increased focus on industrial collaboration, AB Novestra and Ericsson Business Innovation AB have signed a collaboration agreement where Novestra as a preferred partner will have the opportunity to invest in projects and companies which have been developed within the framework of Ericsson Business Innovation. In order to be able to develop industrial collaborations, Novestra has in connection herewith reached an agreement in principle with American institutional investors who will allocate the equivalent of MSEK 500 to co-investments over a three year period. "The collaboration with Ericsson Business Innovation was initiated already in connection with our investment in Multilet AB last December and has, since then, been further formalised and structured. We have already reviewed some ten projects within EBI and we have started discussions with regard to investments in three of the companies. In this context it is valuable to have been able to secure co-investors which have considerable capital resources," AB Novestra's President, Thomas Åkerman says. "For some time now, we have developed the competence within Novestra in order to be able to work together with industrial partners, and we hope to be able to present further industrial and capital partners later this year. For now, we are focusing on our collaboration with Ericsson which will hopefully become valuable for both Novestra and Ericsson Business Innovation, " Thomas Åkerman continues. For further information, please contact Mr Ulf Mimer, Ericsson Business Innovation AB, phone No. +46 8 719 2547. Mr Thomas Åkerman, AB Novestra, phone No. +46 8 454 017 50. For information regarding Ericsson Business Innovation AB, please see www.ericsson.com/innovation/ 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/2001/05/07/20010507BIT00350/bit0001.doc http://www.bit.se/bitonline/2001/05/07/20010507BIT00350/bit0001.pdf