PROPOSAL OF NEW ELECTION OF BOARD MEMBER AT ANNUAL GENERAL MEETING

In AB Novestra’s notice of Annual General Meeting to be held on April 23, 2003, published March 25, 2003, it was announced, with regard to item 12. Election of members of the Board of Directors and auditor, that shareholders who together represent approximately 50% of the votes and share capital in AB Novestra propose re- election of the ordinary members of the Board of Directors Messrs Theodor Dalenson, Anders Lönnqvist and W. Thorpe McKenzie, and the new election of Mr Colin Kingsnorth. Furthermore, the re-election of deputy directors Messrs Mats Berglund and Magnus Nilsson has been proposed and that the same shareholders has announced their intention to propose new election of an additional member of the Board whose name would be made public in good time before the Annual General Meeting.

By this press release the same shareholders hereby propose the new election of Mr Bertil Villard as ordinary member of AB Novestra’s Board of Directors.

For further information, please contact Ms Cecilia Janson, Investor Relations Manager, 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. 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. Novestra’s shares are listed on the O-List of Stockholmsbörsen.

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