IAR Systems AB to OM Stockholm Exchange

IAR Systems AB to OM Stockholm Exchange The OM Stockholm Exchange's Listing Committee today approved IAR Systems AB's application for a listing on the Exchange's O-list. IAR Systems is a wholly owned subsidiary of TurnIT AB. IAR Systems' ownership base will be broadened through a rights issue to shareholders of TurnIT AB to subscribe for not more than 4,297,652 shares in IAR Systems, corresponding to approximately 25 percent of the total number of shares in IAR prior to the new issue. Terms and conditions in brief: Listing Listing of PSS ("Paid and Subscribed Shares") is : expected to take place as of June 7, 2000. The listing of IAR Systems' shares is expected as of July 11, 2000. Prospec A prospectus will be available as of May 22, 2000 at tus: Carnegie and on TurnIT's web site, www.turnit.se. A prospectus and subscription form will be distributed to TurnIT's shareholders beginning May 31, 2000. TurnIT's and IAR Systems' advisor in connection with the listing is D. Carnegie AB. IAR Systems is a world-leading provider of software for programming microprocessors (chips) for embedded systems. Embedded systems are used to monitor and control a variety of products in numerous industries. The product range includes graphic programming tools and tools for compiling and debugging. The benefit to customers is well-documented, and over the years IAR Systems has sold around 40,000 software licenses. Graphic programming tools support the programming of microprocessors with the help of symbols and diagrams. Furthermore, they generate source code automatically, unlike in conventional programming. The market for IAR's programming tools is growing strongly as demands rise for shorter development times for products that include microprocessors. The use of microprocessors in an increasing number of products and the growing complexity involved in programming microprocessors are also contributing to higher demand. In 1999, the company's net sales amounted to SEK 94 million, with an operating profit before goodwill amortization of SEK 9.2 million. The Board of Directors' goal is to raise future net sales by at least 40 percent per year. IAR Systems currently has 111 employees in Sweden, Denmark, the UK and the U.S. TurnIT AB Board of Directors For more information, please contact: Peter Enström, President of TurnIT AB, Telephone: +46-8-545 877 30, Mobile:+46-70-574 99 82 Thomas Wolf, President of IAR Systems AB, Telephone: +46-18 16 78 00, Mobile: +46-708-320 870 Rickard Linderoth, Director of Communications, TurnIT AB, Telephone: +46-8-545 877 45, Mobile: +46-709-65 02 98 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/05/17/20000726BIT00580/bit0001.doc http://www.bit.se/bitonline/2000/05/17/20000726BIT00580/bit0002.pdf