Annual General Meeting of Tele1 Europe Holding AB (publ)

Annual General Meeting of Tele1 Europe Holding AB (publ) At the Annual General Meeting of Tele1 Europe Holding AB (publ) held today, shareholders passed the following resolutions. Approval of the annual report etc. Shareholders approved the Income Statements and the Balance Sheets of the Company and the Group included in the annual report for the financial year 1999. In accordance with the Board of Directors' proposal, it was resolved that no dividend should be paid and that the total loss of SEK 60,698,547 should be carried forward. The members of the Board of Directors and the CEO were discharged from liability for the financial year 1999. Board changes Mr Lars Grönberg was elected to the Board of Directors. Mr Grönberg replaces Mr Niclas Handfast who resigned from the board at today's Annual General Meeting. Mr Grönberg is currently a Board member of several telecom- and Internet companies and has operational experience in all Nordic countries, Europe, China and the U.S. Between 1998 and 2000, Mr Grönberg was CEO of Intrum Justitia. Prior to that he was Vice President of TeleDenmark for two years until 1998, where he had responsibility for all international business, including Telenordia, Belgacom and Talkline. From 1993 to 1996, Mr Grönberg was Vice President of Kinnevik, responsible for telecoms, including Netcom, Tele2 and Comviq. Prior to 1993 Mr Grönberg held senior management positions with Procordia Group and Rank Xerox. He holds a Master in Business Administration degree from the Stockholm School of Economics. The shareholders re-elected Tommy Ekström, Lennart Lübeck, Paul Salem, Viesturs Vucins, Lars Windfeldt and Craig Young. Auditor Ernst & Young was appointed as the Company's auditor for a term until the Annual General Meeting in 2004. Mr Johan Kaijser was appointed responsible. Change of the Articles of Association and the Company name Since all preferential shares were converted into ordinary shares in connection with the listing of the company's shares in March, all provisions relating to preferential shares in the Articles of Association were deleted. Further, it was resolved that the company name should be changed to Tele1 Europe Holding AB without the abbreviation (publ). Indication of the company's public status will now be noted in the Articles of Association. Authorisation for the Board to issue new shares Shareholders authorised the Board, on one or more occasions during the period until the next annual general meeting, waiving shareholders' pre- emptive rights, to issue a maximum of 10,000,000 shares, each share having a nominal value of SEK 0.05, entailing a maximum increase of the company's share capital of SEK 500,000. Shares may be issued by means of issue in kind to owners of target companies in connection with company acquisitions, and by means of a direct share issue to the international capital markets in order to meet the company's capital requirements. Approval of subsidiary's transfer of warrants The company's Finnish subsidiary, Tele1 Europe in Finland OY, presently holds a total of 5,843,960 warrants. Subject to approval from the general shareholders' meeting of that company, the Annual General Meeting approved the transfer of these warrants in accordance with the terms relating to the so-called employee options issued by the company's Norwegian, Finnish and Danish subsidiaries, to employees and management in these countries. The transfer shall, according to the terms for the employee options, be made without any compensation being paid by the employee. Items 13 and 14 on the agenda were removed at the board's request. For more information contact: Tele1 Europe Holding AB - Investor Relations Cecilia Johansson Phone: +46 8-56 31 0219, Mobile: +46 701 81 0219 E-mail: cecilia.johansson@tele1europe.se About Tele1 Europe Tele1 Europe is a fast-growing data and telecommunications operator with operations in Denmark, Finland, Norway and Sweden, headquartered in Stockholm. The Company offers broadband data, Internet and voice solutions, including server/web hosting and value-added data services to large and medium-sized business customers in the Nordic countries. Tele1 Europe is currently the only pan Nordic data- and telecommunications operator investing in local access networks with broadband capacity. The company is currently constructing networks in the nine largest cities in the Nordic region. The group also operates DSL networks. Tele1 Europe plans to build local access networks using fiber or DSL in 79 additional cities, across the four countries. The access networks, which are linked together with a long-distance network, will be one of Europe's fastest data and Internet super-highways with an initial capacity for customers of up to one gigabit per second. www.tele1europe.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/24/20000524BIT00940/bit0001.doc http://www.bit.se/bitonline/2000/05/24/20000524BIT00940/bit0002.pdf