Arrowhead enters into agreement to acquire Pangea´s assets in the
Swedish ring

Vattenfall owned Arrowhead has reached an agreement with the trustees of
Pangea in Sweden, Norway and Denmark and other parties to acquire
Pangea´s fibre network and telecommunication equipment from Nortel in
the Swedish ring connecting Stockholm, Oslo and Copenhagen.

Pangea was a pan-european operator which built a high capacity network
from London to the Baltics.
Pangea entered into administrative receivership in September 2001 and
the Nordic companies filed bankruptcy in may and june 2002.

Arrowhead and Nortel Networks have entered into an agreement whereby the
network will be upgraded to the latest release levels providing
Arrowhead with one of the most technically advanced networks in Europe.
This enhancement will allow Arrowhead to offer the latest services such
as Gigabit Ethernet between major cities in the Nordic region.

"Arrowhead will through this acquisition further strengthen its position
as one of the leading alternative operators in Sweden. Arrowhead has one
of Sweden´s most extensive high capacity backbone networks built on own
dark fibre and has now increased the capacity extensively in southern
Sweden. Arrowhead can avoid planned investments and reduce costs this
way. Arrowhead´s customers such as Orange, Cable & Wireless,
Skandiabanken and the Swedish hospitals will now have the opportunity
for even better services" says Arrowhead´s CEO Anders Lidén.

For further information contact:

Anders Lidén, CEO Arrowhead AB, tel +46 70-569 21 00,
 
Mats Lundqvist, Deputy CEO Arrowhead AB, tel +46 70- 513 64 30,
 

About Arrowhead AB
Arrowhead AB offers communication solutions for enterprises, the public
sector and
operators in Scandinavia. Arrowhead has extensive experience and
competence in network design and operation, represented by 200 employees
from Malmoe in the south to Umeå in the north. Arrowhead AB is owned by
Vattenfall AB