Interim Report for the Period January 1, 2002 - March 31, 2002

Highlights in the Period

· Glocalnet's revenues grew by 4% quarter-on-quarter, to SEK 61.6 m.
The increase was primarily an effect of the deregulation of local calls
implemented in early February. The year-on-year increase in Glocalnet's
revenues-through organic means-was 23%.

· Expenses increased as a consequence of ongoing marketing
initiatives, and are a prime explanation for the corporation's earnings
downturn on the preceding quarter. However, compared to the
corresponding period of the previous year, Glocalnet's deficit was cut
by SEK 28.1 m to SEK -9.5 m.

· Jan Edholm-formerly CEO of Svensk Filmindustri and the web-based
car reseller Autoo-was appointed Glocalnet's CEO.

· Glocalnet reached an agreement with IKEA Svenska Försäljnings AB
regarding a long-term strategic collaboration, launching a telephony