STOCKHOLM, Sweden, Nov. 11, 2002 (PRIMEZONE) -- Song Networks Holding AB (Other OTC:SONWF) (Other OTC:SONWY) ("Song Networks" or the "Company"), formerly Tele1 Europe Holding AB (Stockholm:SONW), the leading pan-Nordic competitive provider of broadband communications services, today reported third quarter financial and operating results.
Commenting on the results, Tomas Franzen, Chief Executive Officer, said: "I am pleased to announce that the Company performed well during the third quarter, especially considering the fact that the Company has been under a lot of pressure from the financial restructuring process. In the light of these circumstances, a revenue increase of 4%, and substantially improved EBITDA compared with the second quarter, is a major achievement. I am convinced that Song's new position as a debt free company with new strong owners and a very competitive product and service offering will result in a substantially positive EBITDA for the full year of 2003."
Corporate information: Principal Executive Office:
Song Networks Holding AB Box 501 SE-182 15 Danderyd Sweden
Visiting adress: Svardvagen 19, Tel: +46 8 5631 00 00, Fax: +46 8 5631 01 01, Web site: www.songnetworks.net
Enquiries:
Tomas Franzen, CEO Tel: +46 8 5631 01 11 E-mail: tomas.franzen@songnetworks.net
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