CayTel 1 L.P. holds approximately 88.1% of the shares and 88.7% of the votes in Teleca AB (publ) and extends the acceptance period

The Offer is not being made, and this press release may not be distributed, directly or indirectly, in or into, nor will any tender of shares be accepted from or on behalf of holders in, the United States of America, Australia, Canada, Japan, New Zealand or South Africa, or any other jurisdiction in which the making of the Offer, the distribution of this press release or the acceptance of any tender of shares would contravene applicable laws or regulations or require further offer documents, filings or other measures in addition to those required under Swedish law. This press release has been announced in Swedish and English. In the event of any discrepancy, the Swedish language version shall prevail.

CayTel 1 L.P. (“CayTel”), a wholly owned subsidiary of Symphony Technology Group LLC, announced on October 31, 2008 a public offer to the shareholders of Teleca AB (publ) (“Teleca”) in accordance with the rules on mandatory bids (the “Offer”).

On December 29, 2008, CayTel announced that CayTel had received competition clearance in Russia in respect of the Offer and that the Offer thereby was unconditional.

At the expiry of the acceptance period on January 12, 2009, the Offer had been accepted by owners of in aggregate 29,339,376 B-shares in Teleca, representing approximately 38.2% of the shares and 36.2% of the votes in Teleca.(1)

At the time of the publication of the offer document on November 7, 2008, CayTel held 475,555 A-shares and 35,667,029 B-shares in Teleca, representing approximately 47.0% of the shares and 49.8% of the votes in Teleca. Since the announcement of the offer document, CayTel has acquired a total of 2,232,116 B-shares in Teleca outside the Offer, representing approximately 2.9% of the shares and 2.8% of the votes in Teleca.(2) CayTel’s total holding of Teleca shares, including the shares tendered to the Offer, therefore amounts to 475,555 A-shares and 67,238,521 B-shares in Teleca, representing approximately 88.1% of the shares and 88.7% of the votes in Teleca.

CayTel has paid the Offer consideration to the shareholders who had accepted the Offer as per December 23, 2008 (i.e. the last trading day prior to CayTel’s announcement that the Offer was unconditional). Payment of the Offer consideration to the shareholders who have accepted the Offer thereafter, up until the expiry of the acceptance period at 17.00 (CET) on January 12, 2009, is expected to commence on or around January 16, 2009.

CayTel has decided to extend the acceptance period up until 17.00 (CET) on January 16, 2009, to enable shareholders who have not yet accepted the Offer to accept the Offer. Payment of Offer consideration to the shareholders who accept the Offer during the extended acceptance period is expected to commence on or around January 21, 2009. Since the Offer is now unconditional, the shareholders who accept the Offer during the extended acceptance period are not entitled to withdraw their acceptances. CayTel may also acquire additional Teleca shares on the market.

CayTel intends to act in favour of a de-listing of Teleca, provided that such de-listing is made in accordance with applicable rules and regulations and that Teleca no longer satisfies the “free float” requirements applicable to listings at NASDAQ OMX Stockholm. If CayTel becomes the owner of more than 90% of the total number of Teleca shares, CayTel intends to initiate a squeeze-out procedure in respect of the Teleca shares not tendered to the Offer.

The offer document, as well as the supplement to the offer document, in Swedish and English and other information concerning the Offer are published on www.carnegie.se and www.SymphonyTG.com.

(1) CayTel holds all A-shares in Teleca, and, as a result, the Offer has only covered Teleca’s B-shares.
(2) As previously announced, the Swedish Securities Council has in a statement on September 14, 2008 (Statement 2008:33), confirmed that CayTel does not need to adjust the consideration in the Offer to the price paid by CayTel in connection with acquisitions of Teleca shares in the spring 2008. None of CayTel’s acquisitions thereafter have been made at a price exceeding the Offer consideration of SEK 3.25 per Teleca share.