NOVESTRA: SHAREHOLDERS’ EQUITY IN PARENT COMPANY HIGHER THAN IN THE GROUP

The book values used by AB Novestra in its market communication are calculated according to the equity method. When applying this method, shareholders’ equity at year-end amounted to SEK 16.20 per share. In the parent company, where the purchase method is applied (the accounting method which some comparable market players apply), shareholders’ equity amounted to SEK 17.50 per share.

“In the last issue of Balans, which is a trade magazine for accountants, a few positive references were made to Novestra’s accounting principles and, on account of this, we have received some enquiries. We would like to make clear and inform the market of the fact that, since we are applying the equity method when calculating book values in the Group, it means that not insignificant reductions of the book values are accounted for, even in companies which have developed well. One such example is Qbranch where book values have been reduced by MSEK 9 due to shares in profit, despite the fact that the company has had a very positive development in growth and result during 2001. Another example is Netsurvey,” says Novestra’s CFO, Nils Bengtsson.

For further information please contact Nils Bengtsson, CFO, AB Novestra, Tel. +46 8 545 017 50.

About AB Novestra
Novestra is an independent venture capital investment company with focus on investments in growth companies providing enabling network technologies and services for the communications industry. Novestra’s portfolio of companies includes B2 Bredband AB, Continuum Group Ltd, myPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc. Novestra’s shares are listed on the O-List of Stockholmsbörsen.

For information regarding AB Novestra, please see www.novestra.com