Nocom extends acceptance period for merger offer to stockholders and warrant holders in TurnIT AB

The prerequisites for declaring the merger offer effective are not met. Nocom AB (publ) therefore extends the acceptance period for stock and warrant holders of TurnIT AB (publ) to the end of business on Friday March 11, 2005. By the end of the original acceptance period, owners of 576,018 series A shares and 131,093,110 series B shares of TurnIT AB (publ) had notified their acceptance. This represents approximately 82.9% of the capital and 80.9% of the voting rights, before dilution, in TurnIT. At the same time, holders of 768,024 series A or B 2004/2005, and 155,194,946 series B 2004/2005 TurnIT warrants had notified their acceptance of the Nocom merger offer. This represents approximately 78.9% of the total number of warrants issued. In all, this represents, after full dilution, approximately 80.7% of the capital and 78.8% of the voting rights in TurnIT AB. - We are very satisfied with the acceptance rate we have received for our offer this far. We fully expect to be able to declare the merger effective at the end of the extended acceptance period, states Stefan Ström, Nocom’s CEO. Since the offer is not currently accepted to the extent that Nocom controls shares representing more than 90% of the voting rights of all outstanding shares in TurnIT, both before and after full dilution from the exercise of issued warrants, the acceptance period has been extended for all holders of TurnIT shares and warrants until the end of business on March 11, 2005. If Nocom can declare the merger effective no later than March 11, 2005, then notice of payment can be issued on or about March 18, 2005. All the terms and conditions contained in the prospectus continue in force for the extended acceptance period. When the merger offer is made effective, the new Nocom will delist TurnIT from the Stockholm Stock Exchange. This should achieve immediate cost savings for the new company. 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.