On March 5th 2010 Nordicom announced that a conditional agreement had been reached on a deal with the group's most significant creditors concerning an improvement in the company's financing conditions. Today we have received the final credit approval from all of the credit institutions involved. The first condition for the completion of the agreement is thus fulfilled. From now on the agreement rests on the following conditions alone: The approval by the general meeting of the capital increase and issuance of convertible bonds The issuance of convertible bonds Reaching a minimum of DKK 50 m worth of conditional pledges of subscription by June 30th 2010 at the latest An increase in the company's share capital of a minimum of DKK 100 m in net proceeds by September 30th 2010 at the latest In accordance with the bank agreement the banks will lower and freeze interest rates on the debt included in the bank agreement over a period of 3 years, margins on the mortgage debt will be lowered and the maturity of the bank debt included will be extended until December 31st 2012. The maturity of the group's mortgage debt is already 3 years plus. In addition, the agreement will allow the group greater flexibility by means of a right to pay cumulative interest at a later date within certain conditions. As payment for the banks' participation in the agreement, including lowering of the current interest rates on the company's bank debt to a fixed rate for 3 years, DKK 70 m nominal worth of convertible bonds will be issued to the participating banks. The bonds are non-putable for the banks until December 31st 2029, will not be amortized and carry no coupon. In return, the banks have the right to convert these bonds to shares in the period from January 1st 2013 to September 30th 2014 at the market price at the time of issue (although this must be at least 100). In accordance with the bank agreement, Nordicom A/S is also committed to carrying out an increase in the company's share capital of a minimum of DKK 100 m in net proceeds by September 30th 2010 at the latest. Conditional pledges to subscribe of at least DKK 50 m must exist before June 30th 2010. The capital increase is expected to be carried out in Q3 2010 with advice from Skandinaviska Enskilda Banken (SEB), which has been mandated to lead the capital increase. Kind regards, Nordicom A/S Board of directors For further information/comments please contact the Managing Director for Nordicom A/S, Niels Troen, tel: (+45) 3333 9303, mobile: +(45) 5151 2342