Ascade Hires New CEO

STOCKHOLM -- Ascade, the global market-leader in Business Operations Systems managing the telecom carrier supply chain of trading and exchanging voice traffic, today announced that Henrik Anderberg will join the company as its new CEO as of May 8, 2006. The announcement of Mr. Anderberg as new CEO is a response to Ascade's strong growth and international expansion over the last year.

Mr. Anderberg brings more than 15 years of executive leadership in telecom and software service and consultancy organizations. For the last 10 years, Mr. Anderberg has been working for IBM in Stockholm and Paris in senior executive positions including Head of Business Innovation Services Nordics (managing 1500 people), Complex Deal Executive IBM EMEA and Director of Outsourcing Sales IBM Nordic. In his most recent position as Senior Project Executive, Mr. Anderberg managed one of Sweden's largest system development & operations project with a value of more than 100 million USD.

Prior to joining IBM, Mr. Anderberg was the Managing Director for a software consultancy company. Mr. Anderberg holds a Master of Science in Electrical Engineering from Royal Institute of Technology in Stockholm and a Bachelor of Business Administration from the University of Stockholm.

Mr. Anderberg was recruited to Ascade to manage and further intensify the company's strong expansion and customer acquisition. Ascade has posted a growth rate of 662% over the last five years and was ranked as Sweden's second fastest growing software company during 2005 in Deloitte's Sweden Technology Fast 50 and top-ranked in Deloitte's Technology Fast 500 EMEA during 2004 and 2005. In addition, Ascade was awarded as one of the most innovative and promising technology companies in the Nordic region by the European Tech Tour during 2005. Ascade recently received 2.1 million EURO from its existing investors to further strengthen the company's operations and product portfolio.

"I am delighted to join the Ascade team and to further strengthen the company's position as the global market leader of Business Operations Systems for wholesale carriers", comments Mr. Anderberg. By combining unique industry expertise with the industry's most advanced solution, Ascade has managed to build an incredible strong position on the market. Due to our extensive customer base and innovative product portfolio, we have an excellent opportunity to grow our business substantially over the next few years", concludes Mr. Anderberg.

Ascade AB