Nocom has 89.8% capital; 87.4% of votes in TurnIT AB - Merger offer extended to April 1, 2005

Stockholders of 576,018 series A and 149,141,500 series B shares in TurnIT AB (publ), representing approximately 94% of the capital and 88% of voting rights, before dilution, accepted the merger offer at of the end of the extended acceptance period on March 18, 2005. Similarly, at that time, holders of 768,024 series A or B 2004/2005 TurnIT warrants and 169,468,097 series B 2004/2005 TurnIT warrants, representing approximately 86.4% of all such warrants issued, have accepted the Nocom offer. In all, after full dilution, a total of approximately 89.8% of the capital and 87.4% of the voting rights in TurnIT AB have accepted the Nocom offer. The Nocom Board of Directors decided on March 10, 2005 to carry out the merger offer as previously announced. Nocom also currently owns 100 series B TurnIT shares representing 0% of the capital and 0% of the voting rights in TurnIT AB, all of which were purchased separate from the current offer. S ince Nocom plans to execute its offer to the extent it is accepted, the requirements for ownership diversity in TurnIT set by the Stockholm Stock Exchange will not be met, raising the issue of whether the shares should be delisted. The Exchange has therefore placed TurnIT shares, lissted on the O List, under observation as of March 16, 2005. The acceptance period is further extended to allow all remaining stock and warrant holders in TurnIT AB the opportunity to give notice of their acceptance of the offer. Notification should be made by 3 o’clock p.m. on April 1, 2005. Notification of consideration paid to those who accept the offer during this extension is expected to be able to start on or near April 6, 2005. For further information please contact: Stefan Skarin CEO, Nocom cell phone: 0708 – 65 10 05 e-mail: Stefan Ström CFO, Nocom c ell 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.