Effnet group AB strengthens its technical team

10/11/2000 6:21 AM EST

EFFNET GROUP AB STRENGTHENS ITS TECHNICAL TEAM

Effnet Group AB announces today the hiring of two new senior technical
managers.

The hiring of these two highly experienced persons is intended to
strengthen Effnet's technical team to enable it to respond to
opportunities globally in a timely manner. This step supports efficient
execution of the recently announced strategy for licensing.


NAGARAJ JUJARE
As Chief Software Architect, Nagaraj Jujare will have primary
responsibilty for further developing Effnet's algorithms, data structures
and software to maintain and strengthen Effnet's position as a leader in
optimized IP packet processing. Nagaraj brings more than 12 years of
strong experience in software Development on operating system kernels,
embedded systems, real-time operating systems, image processing and
pattern recognition. Before joining Effnet, he held a senior engineering
role in software development at Nazomi Communications, a Silicon Valley
startup. He has previously held engineering roles at companies such as HAL
Computer Systems, LynuxWorks, and Ready Systems. He holds a Master's
degree in Computer Science from Indian Statistical Institute, India and a
Master's degree in Mathematics from University of Hyderabad, India.


ULRICH GALL
In his role as Director of Engineering at Effnet, Ulrich Gall will lead
the technology development and customer engineering efforts in North
America. Ulrich brings more than 5 years experience managing development
of networking software, algorithms and architectures. As Director of
Technology at Perfect.com, Gall was a major contributor to the design and
implementation

Of the core algorithms and the software architecture. He helped grow the
Internet startup to a ninety-person organization in less than a year and
was involved in the entire product life cycle from idea to product launch.

In addition to his experience in motivating and growing engineering teams
in startup environments, he has a strong background in building technology
for network devices and supporting sales organizations in licensing
technology to customers and partners. Gall is co-inventor of numerous
patents covering algorithms, business processes, and software
architectures. He holds a Master's degree in Computer Science from
University of Erlangen-Nuernberg, Germany.

"The hiring of these two very experienced people is in line with our
intention to execute our new strategy globally, with a minimum of
location-related delays.. To date we have signed three licensing
agreements with a total expected revenue in excess of 100 million SEK.
Together with our strong cash position, slimmed organization and ongoing
discussions with numerous potential licensees to add to our customer base
we are very confident in our ability to reach our goals", says Norman
Rasmussen, Chairman of the board, and adds "We are presently discussing
with some US based senior persons for board membership and hope to announce
these shortly, which is part of our plan for the O-list and, in the
future, other listings outside of Sweden."


About Effnet
Effnet develops and licenses IP-packet processing technology designed to
resolve bottlenecks in Internet communication and security, thereby
creating maximum benefit for licensees. Today, Effnet has offices in four
locations: Stockholm, Luleå and Håverud in Sweden; and Mountain View,
California, in the U.S. Effnet Group AB is listed on Stockholm's "Nya
Marknaden" (New Market). The company has 80 employees including those in
the wholly owned subsidiary Wkit, a security services consulting company.
Read more about Effnet at www.effnet.com. Read about Wkit at www.wkit.com.

For more information, please contact:

Norman Rasmussen Tony Svensson
Chairman CEO, Effnet Group AB
Tel: +1 617 699 8417 Tel. +46(0) 708 33 89 40
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