STOCKHOLM, Sweden, June 25, 2003 (PRIMEZONE) -- Song Networks Svenska AB is today selling the Kisa and Rimforsa metro network to Kinda municipality. It is costing the authority SEK 3.5 million-- who, for their part, will take over the operation and administration of the network.
"Running a metro network optimally requires local presence and knowledge of the area. We're, therefore, pleased to see Kinda municipality, in Ostergotland, take over the network and continue to develop the enterprise to the benefit of the region," said Mats Lundqvist, Deputy Managing Director of Song Networks.
The sale is a natural progression of a long-term business relationship, as Kinda municipality has been the metro network's biggest customer for some time. The deal now enables the municipality to pursue collaborative work with neighbouring areas.
"With our own network, we can develop new IT services in cooperation with neighbouring authorities. For example, we'll be able to offer residents and businesses Internet connection at a competitive price. We're delighted with the purchase," said Alberto Necovski from Kinda municipality.
Song Networks Svenska AB is a wholly-owned subsidiary of Song Networks Holding AB (Stockholmsborsen: SONW).
For information, please contact:
Song Networks Svenska AB Kinda Kommun Mats Lundqvist, Deputy Managing Director Alberto Necovski, IT Manager Phone: +46 8 5631 0712 Mobile: +46 705 107 991 Mobile: +46 701 810 712
About Song Networks,
(Stockholmsborsen: SONW) Song Networks is a data and telecommunications operator with activities in Sweden, Finland, Norway and Denmark. The Company's business concept is to offer the best broadband solution for data communication, Internet and voice to businesses in the Nordic region. The Company has built local access networks in the largest cities in the Nordic region. The Company was founded in 1995 in Sweden and have approximately 830 employees per March 2003. The head office is located in Stockholm and Song Networks have 24 offices located in the Nordic region. www.songnetworks.net
The information and statements contained in this release that are not historical facts are forward-looking statements, which involve predictions by Song Networks' management. Song Networks can give no assurance that the future results expressed or implied by such statements will be achieved or that, if achieved, such results will be indicative of the results in subsequent periods. Actual events or results may differ materially as a result of risks facing Song Networks. Such risks include, but are not limited to: changes in business conditions; changes in service offerings; and risks associated with Song Networks' limited operating history, entry into developing markets, managing rapid growth, and acquisitions and strategic investments; international operations; dependence on effective information and billing systems; future capital needs; and risks of regulatory developments; any of which could cause actual results to vary materially from the future results indicated, expressed or implied in such forward- looking statements.
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http://www.waymaker.net/bitonline/2003/06/25/20030625BIT00150/wkr0001.doc
http://www.waymaker.net/bitonline/2003/06/25/20030625BIT00150/wkr0002.pdf