CellPoint To Seek Parallel Listing in Stockholm.Business/Technology Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Oct. 10, 2000 Peter Henricssion, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CellPoint Inc. (Nasdaq:CLPT)(www.cellpt.com) announces that CellPoint will apply for a parallel listing on the O-List of the OM Stockholm Exchange. "We announced our intention to seek a parallel listing in Europe because our primary commercial market for location and telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. services is Europe," said Henricsson. "Our board's decision was to apply for a parallel listing in Sweden and we have already initiated discussions with the OM Group in Sweden, which runs the OM Stockholm Exchange, to effectuate a listing on the O-List as soon as possible." CellPoint evaluated several different alternatives and the decision to list in Stockholm was based on the fact that the Company has the majority of its people and development in Sweden. Stockholm is also known as a worldwide center for mobile technology; CellPoint's office in Kista is in the heart of what is known as the "Wireless Valley." "We will maintain our Nasdaq listing in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and will soon be able to offer European shareholders improved access to trading in CellPoint's stock," added Henricsson. Recent Events CellPoint has recently announced several commercial contracts for its technology and services. "We have also expanded our location technology and services offerings with market-driven product developments," continued Henricsson. "We feel it is clear that our leadership in location technology and services is becoming even more pronounced as we continue to announce commercial deployments in our target markets. Swedish subsidiary Unwire has also announced more than $20 million in contracts in Europe and Asia over the last two months. More CellPoint news can be viewed at http://www.cellpt.com/v2/newsreleases2.htm CellPoint also publishes regular Corporate Updates - these can be viewed at http://www.cellpt.com/v2/corporateupdate2.htm Annual Stockholder's Meeting CellPoint's annual meeting will take place on December 6, 2000 in Kista, Sweden at 16:00 hours. All registered shareholders as of October 12, 2000 will be invited to attend. CellPoint Inc. (Nasdaq:CLPT)(www.cellpt.com) is a US company with subsidiary operations in Sweden, Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. delivering location and wireless telemetry services in cooperation with cellular operators worldwide. CellPoint's end-to-end cellular location technology works in unmodified Adj. 1. unmodified - not changed in form or character unqualified - not limited or restricted; "an unqualified denial" modified - changed in form or character; "their modified stand made the issue more acceptable"; "the performance of the modified aircraft GSM networks and uses standard GSM or WAP phones and standard Internet services. Unwire's GSM terminals are also integrated with CellPoint's Mobile Location Services See mobile positioning. platform. Several commercial applications are available for business and personal location services including Resource Manager(TM) for mobile resource management, iMate(TM) for location-sensitive information and Finder(TM), an application for locating friends and family. Common estimates for GSM subscribers to 2005 exceed 1.5 billion users, whereas worldwide shipments of cellular handsets with embedded GPS (Global Positioning System Global Positioning System: see navigation satellite. Global Positioning System (GPS) Precise satellite-based navigation and location system originally developed for U.S. military use. ) are estimated at four million in 2000 and 38.5 million in 2003. The wireless location services industry in Europe alone is estimated to generate more than $80 billion between now and 2005 (The Strategis Group). CellPoint(TM), Finder(TM), Resource Manager(TM), iMate(TM) and CellPoint Systems(TM) are trademarks of CellPoint Inc. Forward-looking statements in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which may cause actual results to differ from those described. |
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