EDB Business Partner ASA will hold its Annual General Meeting on Thursday 29 April 2004 at 15:30 hours at the Felix Konferansesenter, Bryggetorget 3, 0250 Oslo.  The Board of Directors will propose that the Meeting grants a general mandate for increases in share capital by the issue of up to 9.000.000 shares. In connection with a new share option plan for key personnel, the Board of Directors will propose that the Meeting grants a mandate to issue of up to 1.900.000 shares.  The Board of Directors will also propose that the Meeting grants a mandate to issue 9.284.997 million shares in connection with the employee share option plan.  For all three mandates, the Board should be permitted to use its discretion as to whether the pre-emption rights of existing shareholders should be waived.

 

The Board of Directors will propose to the Annual General Meeting to approve a subordinated convertible loan between EDB Business Partner ASA and Telenor Business Solutions AS as payment for the acquisition of the main parts of the assets included in Telenor's Division Operating Services.  The subordinated convertible loan will be NOK 132,000,000 with a right for TBS to acquire new shares in EDB.  Price per share in relation to any conversion will be based on a volume-based average price for EDB's shares the first five trading days following announcement of the Agreement with Telenor with an addition corresponding to three months NIBOR interest plus 1.0% in the period from 1 May 2004 until conversion.  The subordinated loan can partially or fully be converted until 27 March 2006, which also is the finale date for repayment to the extent no conversion is requested.

 

The Board of Directors will not propose the payment of any dividend in respect of the 2003 accounting year.  The formal Notice of Meeting will be sent to all shareholders registered in the Norwegian Central Securities Depository as of 13 April 2004.  The Notice of Meeting will also be available from the company`s offices at Gullhaug Torg 4 A, 0484 Oslo, from Thursday 15 April 2004, and will also be notified to the Oslo stock exchange.

 

EDB Business Partner ASA will also draw the attention to a printing error in the press release dated 26 March. Out of the total estimated contract value on NOK 4,5 billion related to extension and expansion of the operating agreement between Telenor and EDB, new revenues are NOK 3,4 billion and not NOK 3,7 billion as stated in the press release.