NOVESTRA WILL SHOW POSITIVE RESULT FOR THE FIRST SIX MONTHS 2003 AND SEES NO NEED FOR WRITE-DOWNS IN THE PORTFOLIO

In connection with its interim report for the first quarter of 2003, AB Novestra communicated that the company expected to show a positive result for the full year 2003 and that, following considerable write-downs and write-offs during 2001/2002, the company sees no further need for write-downs.

Novestra now expects that the company will show a positive result already for the first six-month period 2003. The company estimates that the positive result development will continue for the rest of the year.

“During the first six months, most portfolio companies have had a positive development in revenues and results and in some cases we have seen a growth of up to 100 percent compared to the same period previous year. Most portfolio companies also expect a stable development during the remaining six months of the year even if the general market conditions compared to the first six months of the year do not improve,” Novestra’s Managing Director, Peter Ekelund, says.

”It is of course a good thing to be able to show a positive result but we still expect it to take a year or two before we will see what the real values of our portfolio companies are,” Peter Ekelund continues.

For further information please contact Cecilia Janson, Information Manager, AB Novestra, phone No. +46 8 545 017 50.

About AB Novestra
Novestra is an independent venture capital investment company with focus on investments in growth companies in the U.S. and Sweden. Novestra’s portfolio of companies includes Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc. as well as the co-investment vehicle Continuum Group Ltd.In addition, Novestra has minor holdings in i.a. DCM AB and Modul 1 Data AB (publ.).Novestra’s shares are listed on the O-List of Stockholmsbörsen.

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