STOCKHOLM -- Onetwocom AB (STO:O2C) has signed a Letter of Intent to acquire the Norwegian mobile services provider Mobyson Holding AS. The transaction, which will provide a solid base for further growth and market consolidation, is based on a Mobyson Holding AS valuation of 250 million NOK. Based on the transaction level of 2, 85 SEK per share, Onetwocom is valued at 170 million SEK. The combined company is suggested named Mobyson AB.

As a result of the proposed transaction, 96 739 275 new shares will be issued. The shareholders of Mobyson Holding AS will after the transaction is finalized own approximately 62* percent of Mobyson AB. The transaction is supported by leading share holders in onetwocom. - Mobyson AB will remain a listed company, but now with approximately 80.000 GSM customers, solid owners, over 100 million SEK in cash, potential technological advantages and an experienced management. After a period focusing on internal structures and building a new mobile telephony brand, Talkmore, we now see the importance of creating a bigger corporation, both regarding customers and financial resources. We also believe that the added mobile VoIP competences will enhance the value creation in our Swedish company Freetel AB, says chairman Erik Langaker in onetwocom.

A strategy process for the combined company will be initiated as soon as possible. The work will be completed in February 2007.

"Onetwocom and Mobyson is the good match, both industrially and culturally. Mobyson AB will now be able to provide its customers with some of the best and most innovative mobile phone services on the market, with competitive prices. The new company will have a solid base for building an aggressive, fast growing and focused mobile service provider," says Bent Brugard, who is proposed to take a leading role in Mobyson AB. Today, Brugard is the CEO of Mobyson Holding AS and has previously worked as head of Conax, Data Respons and Telenor Online.

Onetwocom AB