STOCKHOLM, Sweden, April 17, 2002 (PRIMEZONE) -- Song Networks AB, the Swedish subsidiary of Song Networks Holding AB, (Nasdaq:SONW) (Stockholm Stock Exchange:SONW), has signed an agreement with the IT consultancy company, Prevas AB (Stockholm Stock Exchange:PREV), for the supply of Internet services and data communication. The agreement runs for 3 years and is worth SEK 2.5 million in total.
"Following a careful assessment of a number of different suppliers, our choice fell to Song Networks. They had a technical solution which met our requirements very well, a highly customer-orientated attitude, and a competitive price," said Olof Stalnacke, Director of Finance at Prevas AB and who oversaw the purchase.
Apart from Internet access, the agreement also covers a solution for secure connection of the local networks in Prevas' offices in Sweden and Denmark to a single network, a so-called Wide Area Network (WAN).
"We have offices in eight locations in Sweden, plus one in Copenhagen, and our need for network capacity to transfer and exchange data between offices and with our customers is continually increasing, as are our security requirements. In choosing Song Networks, with its own backbone fiber and access network in the Nordic region, we have found a good total solution for our data communication," said Stalnacke.
For Song Networks, the agreement with Prevas confirms that the company's products and services possess the quality demanded by the market.
"Our own backbone fiber and access network in the Nordic region gives us a lot of competitive advantages, in that we can supply communication solutions with high levels of capacity, availability, and security. This is especially confirmed by the agreement with Prevas, one of Sweden's leading IT consultancies," said Mats Almgren, Sales and Marketing Director of Song Networks AB.
About Song Networks, formerly Tele1 Europe, is one of the leading data and telecommunications operators in the Nordic region. The Company provides solutions for data, Internet, hosting and voice, to businesses in Sweden, Denmark, Finland and Norway. Song Networks is currently the only pan-Nordic operator investing in local access networks with broadband capacity. The Company has built local access networks in the largest cities in the Nordic region.
The access networks, which are linked by a long-distance network is one of the fastest data and internet super-highways in Europe, with an initial capacity for customers of up to one gigabit.
The Company was founded in 1995 in Sweden and has approximately 1,100 employees. The head office is located in Stockholm and there are 34 offices located in the Nordic region.
Please visit us at www.songnetworks.net
About Prevas AB
Prevas is a project-orientated IT consultancy offering technical IT solutions in the fields of bioinformatics, industry and telecom. The company started up in 1985 and has around 240 employees. Prevas' offices in Sweden are in Gavle, Gothenburg, Karlstad, Linkoping, Lund, Stockholm, Uppsala and Vasteras. In Denmark, the first overseas office has been established in Copenhagen. Consulting makes up 85 percent of the activity, with the other 15 percent of the turnover comprising product sales and customer support services. Prevas has a strong client base, both in traditional export industry and a great many growth companies. This client base is stable, with a high repurchase rate. The quotation uptake averages around 90 percent. Prevas AB numbers among the Stockholm Stock Exchange's unlisted shares. For further information, see: www.prevas.se.
Certain statements contained in this press release contain "forward-looking statements" within the meaning of the U.S. federal securities law. Such statements are based on the current expectations of the management of Song Networks Holding AB only, and performance is subject to risks, uncertainties and other factors that could cause actual results to differ materially from these statements. Such risks include, but are not limited to, adverse regulatory, technological or competitive developments; decline in demand for the company's services or products; inability to timely develop, introduce and market new technologies, products and services; pricing pressures resulting from competition; unforeseen construction delays; and the inability to successfully manage systems failures or shutdowns and service interruptions or reduced services to customers. For a more detailed discussion of such risks and uncertainties affecting the company, please refer to Song Networks Holding AB's reports that are filed from time to time with the U.S. Securities and Exchange Commission, including the company's annual report on Form 20-F and reports on Form 6-K.
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