Foreign and Swedish institutions increase ownership

12/10/1999 3:23 AM EST

FOREIGN AND SWEDISH INSTITUTIONS INCREASE OWNERSHIP

After Wednesday's placement of 1,200,000 newly issued shares was
significantly oversubscribed, many institutions showed continued buying
interest.

Both Swedish and foreign institutions have acquired additional shares
after the issue. Due to this great interest, two of Effnet's researchers,
Svante Carlsson and Mikael Degermark, each sold 90,000 shares. The
transactions were carried out by Hagströmer & Qviberg Fondkommission AB.

INVESCO Asset Management Limited has acquired a total of 523,600 shares in
Effnet, corresponding to slightly more than 5 percent of the total number
of shares after the issue. INVESCO is a member of the AMVESCAP Group, one
of the world's largest listed investment management companies, managing
more than USD 280 billion in assets. Additional information about INVESCO
is available at www.amvescap.com.

"I view the heavy interest from many large Swedish and foreign
institutions as strong mark of confidence on behalf of the financial
market," says Tomas Althén, CEO of Effnet Group. "Attracting this type
of owners is what we need in our move toward a listing in the USA."

For further questions please contact:
Tomas Althén, CEO of Effnet Group AB, Tel: +46 708 15 16 15

Effnet has 50 employees and is expanding rapidly. Research and development
is currently based in Luleå. In 1998, the company opened a sales and
marketing office in Boston, Massachusetts and an additional office in
Stockholm, Sweden. The company's technology has been field tested and
proven via a line of firewall products initially marketed exclusively in
Sweden. Server-based, PCI add-on products based on Effnet's algorithm will
become available in the United States in the coming months.

Additional information about Effnet is available through the Web at
www.effnet.com