Tele1 Europe Holding AB proposes changing its name to Song Networks Holding AB

Tele1 Europe Holding AB proposes changing its name to Song Networks Holding AB The Board of Directors of Tele1 Europe Holding AB (NASDAQ: TEUR, OM Stockholm Stock Exchange: TEUR) today announces its plan to rename the company as Song Networks. The Board proposes that Tele1 Europe Holding AB be renamed Song Networks Holding AB and that the other companies within the Tele1 Europe Group which currently operate under a name containing "Tele1 Europe" change their names to include "Song Networks". The proposal on the name change of the parent company and the necessary changes to the company articles of association will go in front of the Annual General Meeting on 16 May 2001 for approval. Meanwhile, the decisions concerning the change of name for the subsidiaries and the necessary alterations to their registration details will be approved as soon as practically possible. "We have chosen to change the name of Tele1 Europe to Song Networks as this name better relates to the business we operate and the core values of our operations. Our current name - Tele1 Europe - can easily be confused with other providers of data and telecommunication services, and is pronounced in different ways pending on language," explained Lars Windfeldt, Chairman of the Board of Tele1 Europe. "Our vision is to be 'The leading broadband operator for businesses in the Nordic region'. As both a name and a brand, Song Networks will be a better communicator of the range of data and telecommunication services we provide to corporate customers in the Nordic region. One of our requirements was that the new name be easy to pronounce, read and write. The new name helps us to stand out from other providers of data and telecommunication services," added Ivar Strömberg, CEO of Tele1 Europe. To ensure that the new name is protected and to minimise the risk of any hold-ups in registering this new name, Song Networks has already been registered for Group companies in Sweden, Norway, Denmark, Finland and Holland. The Board of Directors has also decided to propose that the Annual General Meeting authorise the Board to take decisions concerning a directed new issue of up to 10,000,000 shares to be used as payment in connection with possible future corporate acquisitions. Additional information concerning the proposals mentioned above will be included in the notification of the Annual General Meeting, which is expected to be published in Post- och Inrikes Tidningar (the Official Swedish Gazette) and Dagens Industri on 18 April 2001. For further information, please contact: Tele1 Europe Holding AB Tele1 Europe Holding AB Ivar Strömberg, CEO Cecilia Johansson, Investor Relations Phone: +46 (0)8 5631 0001 Phone: + 46 (0)8 5631 0219 Mobile: +46 (0)701 810 001 Mobile: + 46 (0)701 810 219 E-mail: E-mail: cecilia.johansson@tele1europe.c om About Tele1 Europe (NASDAQ: TEUR, OM Stockholm Stock Exchange: TEUR) Tele1 Europe is a rapidly expanding data, internet and telecommunications operator with activities in Sweden, Denmark, Finland and Norway. The company provides broadband solutions for data, internet and voice, to large and mid-range businesses in the Nordic region. Tele1 Europe is currently the only pan Nordic data, internet and telecommunications operator investing in local access networks with broadband capacity. The company is constructing networks in the 80 largest cities in the Nordic region. The access networks, which are linked by 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. The company was founded in 1995 and has around 1000 employees. The head office is in Stockholm and there are an additional 24 offices located in the Nordic region. For further information: Read more about the background to the proposed name at: ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: