SwitchCore is in an active development phase with the third product generation, Xpeedium3. The first part of the development, which entailed production of the Network Search Engine, NSE, was completed at the beginning of 2007. Our current plans stipulate that development of Xpeedium3 should be completed by the end of 2007. The past few years the company has been actively negotiating with financial and industrial partners for partnership in the development process and collaboration to expand SwitchCore's product range in order to strengthen the company's position on a very competitive market. These discussions, mainly with industrial partners, have entered a more intensive phase in recent months. SwitchCore's Board has therefore commissioned two investment bankers to advise the company in this process. It is currently not possible to monitor the result of the ongoing talks. It might result in a decision to run the development project in-house or a proposal to merge all, or parts of SwitchCore's business with a Swedish or internationally strategic partner. Against the background of the ongoing talks, the Board has deemed it necessary to postpone the 2007 Annual General Meeting, initially scheduled for May 2, until Thursday, June 14. Notification of the Annual General Meeting will be distributed around May 15, 2007. Board of Directors For further information, please contact: Per Andersson, Chairman, SwitchCore email: per.andersson@switchcore.com Telephone: +46 708 89 13 62 Erwin Leichtle, President and CEO, SwitchCore email: erwin.leichtle@switchcore.com Telephone: +46 703 38 93 00 About SwitchCore SwitchCore AB develops, markets and sells integrated network devices for data, voice and video communication based on the Ethernet standard. The core of SwitchCore's expertise is in its CXE technology, which allows for significantly higher network product capacity. Using SwitchCore's components, customers can develop network products that cost-efficiently manage and prioritize data, video and voice traffic for many demanding applications. Customers and partners are network equipment manufacturers and suppliers, including Intel, Allied Telesyn, Huawei, 3Com, Alloptic, Fiberhome, Flextronics, Keymile, Radisys and World Wide Packets. The Group presently has about 55 employees and some 45 consultants contracted. SwitchCore's headquarters is in Lund, Sweden. The Company also has offices in San Jose, USA, as well as Singapore and Shanghai in Asia and Rotterdam in Europe. The Company is listed on Stockholm Stock Exchange's Nordic List under Smaller Companies under the SCOR ticker. For more information visit http://www.switchcore.com/
SwitchCore postpones AGM to June 14, 2007
| Source: SwitchCore AB