Effnet Announces Changes to its Board of Directors

10/18/2001 6:03 AM EST

Norman Rasmussen, who has been a board member since November 1998 and
chairman since June 2000, announced his decision to step down as
chairman effective immediately. Mr. Rasmussen will, however, keep his
seat on Effnet's board of directors.

Magnus Ryde, an Effnet board member since November 2000, was elected by
the board to fill the position of chairman until the next shareholders'
meeting; this vote was taken at a general board meeting on October 15,
2001.

Göran Larsson, an Effnet board member since April 2001, was elected to
the post of vice chairman of the board at the same October 15 meeting.

"My 73rd birthday is coming up in less than two months," said Rasmussen.
"It is time for me to relax a bit more than the Effnet chairmanship has
permitted, so I am stepping down. I will, however, continue to support
Effnet as a regular board member, " he continued. "I have a high opinion
of our management team and our new chairman, and I will continue to work
diligently to help steer the company through its challenges on the road
ahead."

"As the new chairman, I will continue to support our focus on wireless
networks and Effnet's unique technologies in these areas," said Magnus
Ryde. "To help accelerate our path to profitability, I have asked Göran
Larson and CEO, Örjan Grinndal, to assist me in continuing to streamline
operations and further develop our strategies."

About Effnet
Effnet innovates and licenses award-winning key technologies that
resolve data speed, efficiency and security challenges in Internet
Protocol (IP) networking and IT security. Effnet are technology leaders
in the area of Header Compression, which increases the efficiency in IP-
networks. Effnet's modular IP packet processing technology -- the
EffnetEdgetm Toolkit -- as well as its complete firewall and router
technology for hardware manufacturers, enable optimized performance. The
wholly owned subsidiary, Wkit Security, offers data encryption and copy
protection technologies, and security audit services for public and
private sector companies. With approx. 70 employees, the Effnet group
operates in Stockholm, Luleå and Håverud, Sweden, and Tucson, Arizona
and in Silicon Valley, California. Effnet Group AB shares are traded on
Sweden's Nya Marknaden (symbol: EFFN).
Read more about Effnet at www.effnet.com. Read about Wkit at
www.wkit.com.

Effnet, the Effnet logo, EffnetEdge and Wkit are trademarks or
registered trademarks of Effnet AB and Effnet, Inc. Other brand names
may be the trademarks of their respective owners.

For additional information please contact:
Örjan Grinndal, CEO
+46-(0)8-564 605 50, +46-(0)709-57 53 75

Marika Philipson, CFO
+46-(0)8-564 605 50, +46-(0)708-32 44 56