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Custos and Kinnevik to Take AcandoPublic.

Publication: Business Wire
Date: Wednesday, May 17 2000

Business Editors/High Tech Writers

STOCKHOLM, Sweden--(BUSINESS WIRE)--May 17, 2000

The e-business company Acando has decided to accelerate its OM Stockholm Stock Exchange listing to the autumn of 2000.

In conjunction with the initial public offering, Acando plans an issue

of new shares, among other things to finance its expansion in Europe. Acando's main owners, Custos and Kinnevik, believe that a listing is the best way to speed up Acando's future expansion.

"The dot.corp market is exploding as traditional companies now move into the new economy, generating huge opportunities, both nationally and internationally, for Acando. This investment is one of the most attractive in Custos' portfolio", says Christer Cardell, Chairman of Acando and CEO of the investment company Custos. Custos will continue its long-term ownership role in the company, he adds.

"Kinnevik has received good reviews for our ability to orient ourselves early and do business in the new economy. Announcing a stock exchange listing of Acando now is a logical link in that chain", says Vigo Carlund, President and CEO of Kinnevik.

"Acando focuses on top management and dot.corps. To be able to serve our existing clients and take advantage of the potential market, we are now prioritizing an international expansion. The demand for companies that can provide holistic strategic solutions in e-business is very large, and we believe we have unique potential to become a leader in Europe", says Sven Kallstenius, CEO of Acando.

Today Acando has 380 employees and expects to grow to 650 by the end of 2000. There are currently offices in Stockholm, Gothenburg, Malmo and Sundsvall. The highest priority markets outside Sweden are Germany, Great Britain and France.

Custos is Acando's largest single shareholder, with 30 percent of capital and votes, followed by the industrial/media group Kinnevik with 15 percent and the Norwegian industrial/investment group Orkla and Nordico (successor of KF Invest) with 7.5 percent each. Acando employees control the remaining 40 percent of shares.

About Acando

Acando performs e-business assignments, especially for traditional industrial companies -- dot.corps -- but also for certain carefully selected dot.com start-ups. Improvements are implemented by using IT and the Internet as strategic business resources. Acando offers unique expertise and customized work teams characterized by in-depth understanding of the ground rules of the new technology. Acando offers a unique pricing system where it shares risks with the client by applying a client-tailored, profit-based method. (www.acando.com)

Please visit http://www.bit.se for further information.

The following files are available for download: http://www.bit.se/bitonline/2000/05/17/20000517BIT00110/bit0001.doc http://www.bit.se/bitonline/2000/05/17/20000517BIT00110/bit0002.pdf

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