Nocom extends acceptance period for merger offer to stockholders in IAR Systems AB

Nocom AB (publ) has decided to extend the acceptance period for their merger offer to stockholders of IAR Systems AB (publ) to the end of business on Friday March 11, 2005. TurnIT AB, owner of approximately 75% of all shares of IAR Systems, has declared its acceptance of the offer to include IAR Systems in the proposed merger but has agreed to retain its shares during the acceptance period. The new Nocom will retain this ownership of IAR Systems when the merger with TurnIT is made effective. By the end of the original acceptance period owners of 3,980,337 shares of IAR Systems, representing approximately 17.4% of the capital and voting right had accepted Nocom’s offer. This, in combination with the ownership share of TurnIT corresponds to control of 92.3% of the total capital and voting rights. The merger offer to IAR Systems requires that the merger offer to the stock and warrant holders in TurnIT is declared effective, which has not been possible at the end of the original acceptance period. This time has now been extended. Further information concerning this extension is contained in a separate press release regarding the TurnIT merger offer. In such circumstances, Nocom has decided to extend the acceptance period to all stockholders in IAR Systems to the end of business on March 11, 2005. If Nocom can execute the merger offer no later than March 11, 2005, then notice of payment can be issued on or about March 18, 2005. All terms and conditions contained in the prospectus continue in force for the extended acceptance period. For more information please contact: Stefan Ström CFO, Nocom Cell phone: 0708 – 65 10 68 E-mail: Prospectus, information brochure and application form can be requested free of cost from Kaupthing Bank, phone 020–45 64 40, or from Nocom, phone 018–65 55 00.