COPENHAGEN, Denmark, May 29, 2002 (PRIMEZONE) -- Olicom A/S (OTCBB:OLCMF) ("Olicom" or "the Company") today announced that it has provided series A funding for Tpack A/S ("Tpack"), a fabless semiconductor company that develops and markets technology for intelligent data services for SONET/SDH transmission systems. The funding has been provided in syndication with Slottsbacken Funds, a Scandinavian venture capital fund managed by ACR Capital and InnFond P/S, a Danish early stage/seed capital investment fund. In addition, Tellabs, a provider of metro optical networking solutions and business connectivity services, will evaluate Tpack's technology in its optical transport equipment.