Proposal regarding new board members and chairman of the board of Teleca

Teleca AB (publ) announces that Teleca’s nomination committee, having discussed the matter with Teleca’s new largest shareholder Symphony Technology Group (STG), proposes two new board members to be elected at the extraordinary shareholders’ meeting on March 7, 2008.

According to the proposal, Teleca's board would consist of six members (instead of earlier seven) plus any employee representatives. The new candidates, whose term of office would run until the close of the next annual general meeting, are Chet Kamat and John Tristan (J.T.) Treadwell, both representing Symphony Technology Group. Mr Kamat is proposed to be elected new chairman of the board.

The current chairman of the board, Dan Olofsson, who has served on the Teleca board since 1987, the current vice chairman, Konstantin Caliacmanis, who has been a member of the board since 1996, and Göran Larsson, who has been a member of the board since 1993, have already declared that they will resign from the board as a consequence of Danir AB and Mr Caliacmanis having sold all of their shares in Teleca.

Following election of Mr Kamat and Mr Treadwell in accordance with the above proposal, Teleca‘s board of directors would consist of Chet Kamat (chairman), J.T. Treadwell, Thomas Isaksson, Johan Vunderink, Juha Christensen, Anders Torstensson, Lars Andersson (employee representative) and Hasse Olsson (employee representative).

Background information on the proposed new board members:

Chet Kamat
Chet Kamat joined Symphony Technology Group in September 2006. As Managing Partner, India; Chet is responsible for the transformation and operations of STG's portfolio companies with a particular emphasis on their use of global service models. Chet has over 20 years of experience covering areas such as strategic and operational consulting, global service delivery models and large scale business operations.

Prior to STG, Chet worked as the CEO of a retail financial services start-up and at Accenture. Joining Accenture in 1986, Chet worked across Accenture locations in India, United States, Sweden, Hungary and the Philippines across a variety of business consulting and large scale systems integration engagements. In his last role at Accenture, Chet was Managing Partner of Accenture's India Delivery Centre Network which he was responsible for establishing from scratch and growing to a 13,000 strong unit serving over 200 global clients. Chet obtained his Masters in Computer Science from the University of Bombay and an MBA from the Indian Institute of Management at Ahmedabad.

John Tristan (J.T.) Treadwell
J.T. is a Principal with the Symphony Technology Group, where he has helped lead and manage Symphony's investments in Information Resources Inc. (IRI), Intentia / Lawson (NASDAQ: LWSN) and GERS Retail Systems. J.T. has been a part of the Symphony Investment team since 2003.

J.T. joined Symphony from Qiva, a global logistics software company where he was Director of Marketing, and Director of Strategic Planning. Prior to Qiva, J.T. was the associate for the west coast enterprise software and services practice at Bessemer Venture Partners, helping create investments in companies like Worldchain, Nistevo, and Trigo (Acquired by IBM), where he served on the Board of Directors. Prior to Bessemer, J.T. was a consultant at The Boston Consulting Group where he helped drive numerous strategic marketing and business development projects for clients in technology, consumer goods, and finance. He holds dual Bachelor of Arts degrees in Ethics, Politics, & Economics and History from Yale University.


For more information, please contact.
Christian Luiga, CFO, Teleca AB, mobile +46-703751604
Mattias Stenberg, Investor Relations Manager, Teleca AB, mobile +46-706119616