Nocom AB's merger offer for IAR Systems executed and declared effective

Stockholders of 3,838,566 shares in IAR Systems AB representing approximately 81.5% of the capital and 76.7% of the voting rights in the company have currently accepted the merger offer previously announced by Nocom AB With TurnIT AB’s 74.9% ownership in IAR (now controlled by Nocom after completing the merger offer with TurnIT), Nocom controls a total of approximately 91.7% of the capital and voting rights in IAR Systems AB. Further information concerning Nocom’s merger offer to the owners of TurnIT AB is contained in a separate press release. The conditions for carrying out the merger are thereby met. Therefore, the Nocom Board of Directors has decided to declare the merger effective. Notification of the consideration paid to those who have accepted the offer is expected to be able to start on or near 18 mars 2005. Nocom also intends to finalize the merger with the compulsory purchase of all outstanding shares and the delisting of IAR Systems AB shares from the Stockholm Stock Exchange. This should be completed in April 2005. The acceptance period, currently extended from the original deadline, is further extended to allow all remaining stockholders in IAR Systems AB the opportunity to give notice of their acceptance of the offer. Notification should be made by 3 o’clock p.m. on March 18, 2005. Notification of consideration paid to those who accept the offer during this extension is expected to be able to start on or near March 23, 2005. For further information please contact: Stefan Skarin CEO, Nocom Cell phone: 0708 – 65 10 05 E-mail: 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.