Sonera Sells 60% of SmartTrust

STOCKHOLM -- The Carlyle Group, GE Equity and EQVITEC Partners have signed an agreement to invest EUR 35 million in Sonera SmartTrust AB of Sweden, a wholly owned subsidiary of Sonera Corporation, with revenues of EUR 36 million in 2001. SmartTrust AB is the operating Parent Company of the Sonera SmartTrust Group. Carlyle, through its Carlyle Europe Venture Partners fund, will lead the syndicate. “With the expertise of these three venture capital companies, we are expanding and strengthening SmartTrust's ownership base with experienced software and mobile industry players. Sonera will still own a 39.3% stake in SmartTrust. Thereby Sonera will retain upside potential and participate in building SmartTrust's future", says Niklas Sonkin, Chairman of SmartTrust’s Board of Directors and Sonera’s Chief Strategy Officer. In parallel, SmartTrust’s management is establishing a new warrant based incentive program for employees that will replace the previous warrant program. A portion of SmartTrust’s shareholding will be set aside for this purpose. The transaction is due to complete within two months, subject to meeting the terms of the purchase and regulatory approvals. Sonera Corp.