SEB Företagsinvest and CapMan invest in Ascade

11/13/2002 4:21 AM EST

Swedish telecom software company Ascade is a leading provider of
Business Support Systems for the telecom operator wholesale industry.
SEB Företagsinvest and CapMan have invested MSEK 20 in Ascade AB. The
external capital gives Ascade additional fuel in its strategy to broaden
its customer base and to strengthen its position on the emerging
worldwide market of Business Support Systems for voice minute wholesale
management. Ascade's product Carrier Cockpit(TM) has attracted several
internationally renowned customers in a short time such as Swisscom and
Telenor.

Ascade is a Swedish telecom software company who has been profitable
since start in 1997. The company is totally dedicated to developing
solutions for the telecom operator wholesale industry. Ascade's Carrier
Cockpit(TM) is a sophisticated IT-solution which enables operators
worldwide to cut costs and lift productivity by optimising and
automating the management and operation of the buying, routing, pricing
and selling of international voice minutes.

The investment will bring extra strength to the expansive international
strategy that Ascade is pursuing. The company intends to rapidly acquire
new customers worldwide and to strengthen its position as the leading
provider of Business Support Systems for the telecom operator wholesale
industry.

"Bringing on SEB Företagsinvest and CapMan definitely addresses
increased creditability to Ascade and will be the energy boost that
establishes Ascade as the premium supplier of Business Support Systems
for the telecom operator wholesale industry", says Christopher Grahn,
CEO of Ascade.

After the deregulation of the telecom market, the competition and the
complexity on the market of trading voice minutes has grown
tremendously. The market for support systems managing this complexity is
as yet rather undeveloped. The need for system support is growing fast
and is expected to accelerate even further as telecom operators are
streamlining and automating operations to regain strength. With
efficient business support, operators can save millions of Euros yearly,
by using Ascade's Carrier Cockpit(TM) and the sale of the product has
thus not been affected by the current decline within the telecom
industry.

Among Ascade's present customers are market-leading international
operators such as Swisscom of Switzerland, Finnet International of
Finland and Telenor of Norway. In addition to existing customers, the
Carrier Cockpit(TM) is currently also being evaluated by a number of
major operators worldwide. Ascade started out as an IT-consultancy
company but has been a product company since 2000 and is now considered
to be at least one year ahead of its competitors.

"To meet the needs of international telecom operators, who act in a
challenging and complex environment, Ascade has developed a very
interesting software solution. The software is unique in the sense that
it addresses a core process which represents a considerable revenue
stream for the operator. We are investing in Ascade to support the
company in a broader international expansion, and very much look forward
to working with management as well as our co-investor", says Frederick
Johansson Senior Investment Manager at SEB Företagsinvest.

"Ascade has a strong market position in a very interesting market niche,
and their offering is exceptionally strong. Together with management we
hope to develop the company further" says Martin Falkevall, partner at
CapMan AB.

SEB Företagsinvest is the venture capital arm of Skandinaviska Enskilda
Banken (SEB). The business concept is to invest venture capital and to
provide competence and an extensive network of contacts for growth
companies in Technology and Healthcare. Since inception in the autumn of
1995, SEB Företagsinvest has invested in 52 companies, of which 18 have
been exited. For more information, see www.foretagsinvest.seb.se

CapMan is one of the leading private equity investors in the Nordic
countries and specialises in mid-sized buyouts in various industry
sectors, technology investments in the IT, telecommunications and media
sectors and investments in life science companies.
CapMan team comprises 70 investment professionals and support staff in
Helsinki, Stockholm and Copenhagen. CapMan manages/advises funds with
EUR 1538 million in total capital, of which EUR 473 million is managed
by the affiliated company Access Capital Partners, which invests in
European private equity funds. The funds managed by CapMan have invested
in 121 companies in the Nordic countries and exited from 44 companies.
CapMan Plc`s B share is listed on the Main List of the Helsinki Stock
Exchange

Ascade AB
Stockholm 13th of November 2002

For further information, please contact:

Christopher Grahn, CEO, Ascade AB
Tel: 08-616 73 00, e-mail:  

Frederick Johansson, Senior Investment Manager, SEB Företagsinvest
Tel: 08-763 79 03, e-mail:  

Martin Falkevall, Investment Manager, CapMan AB
Tel: 08-545 85 470, e-mail:  

For further information please visit www.foretagsinvest.seb.se for
information on SEB Företagsinvest, www.swedestart.se for CapMan and
www.ascade.com for Ascade.