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Pan Interactive and IQ Media Join Forces Creating Largest E-entertainment Company in the Nordics.

Business and Entertainment Editors

STOCKHOLM, Sweden--(BUSINESS WIRE)--Aug. 29, 2000

PAN Interactive and IQ media joined forces creating IQ PAN Interactive, the largest e-entertainment company in the Nordics. IQ PAN Interactive is a new powerhouse, becoming Europe's leading supplier of e-entertainment for portals, interactive TV channels and players in the broadband market. The companies are subsidiaries of KF Media and Enlight Interactive respectively.

"Our merger with PAN Interactive is now giving IQ Media even better prospects for success," says Urban Doverholt, President and CEO of Enlight Interactive. "We anticipate sharp growth in the market for learning via interactive media, e-learning, and the resources made available by the streamlining process will be put to good use"

IQ PAN Interactive will inherit IQ Media's position as the Nordic region's largest player in e-entertainment for PCs and will receive PAN Interactive's intellectual rights, international network and high-quality production methods. Sales outside the Nordic region consist of distribution and license sales to other international publishers and productions have already been sold to customers in the U.S., Europe and Asia.

IQ PAN Interactive's extensive catalog of international rights to interactive productions include The Hitchhiker's Guide to the Galaxy and the latest Star Trek productions (exclusive of the U.S.), as well as a number of new web services that are under production. The company is established in Sweden, Norway, Denmark and Finland, and is part owner of development companies in London and Hollywood.

"Our position as leaders in the e-entertainment market allow us the opportunity to lead by example and offer quality content through interactive television, broadband and mobile Internet services," says Henrik Eklund, President of IQ PAN Interactive. "In the fast growing market of e-entertainment, IQ PAN Interactive brings interactive entertainment to a new level."

About PAN Interactive

PAN Interactive Publishing is a broadband multimedia game company, providing complete concept entertainment by integrating all media forms for the global market. By spearheading the entertainment convergence of games, PAN brands reach a wide and diverse entertainment audience. PAN makes stories and characters come alive, games develop beyond their initial intention, with the company's focus on innovative, creative, and technologically advanced resources. PAN builds alliances among developers, content providers, and distributors, bringing New Economy principles to the interactive entertainment industry.

KF Media AB, a subgroup of KF (the Swedish Cooperative Union), has three areas of operation: book retailing, book publishing and newspapers. Akademibokhandelsgruppen AB operates 47 bookstores in Sweden. The publishing group, P.A. Norstedt och Soner AB, includes the well-known Norstedts Forlag, Bokforlaget Prisma and Raben & Sjogren Bokforlag publishing companies, as well as participations in book clubs, such as Manadens Bok and Bockernas klubb. Newspaper operations comprise AB Tidningen VI and KF Tidningsforlag. The KF Media group has annual sales of SEK 1.2 billion and 850 employees.

About IQ Media

IQ Media Nordic AB is one of northern Europe's largest publishers and distributors of interactive family entertainment. The company markets and sells PC, MAC and PlayStation titles and represents a large number of games developers, including Aniware, Computerhouse and Korkeken.

Enlight Interactive is the Nordic region's most comprehensive e-learning group. Its business concept is to provide products that enable personal and professional development in simple and enjoyable forms. Enlight Interactive was the first company with operations in the fast-growing interactive learning (e-learning) market to be listed on a European stock exchange.

The Group is Europe's leading company in the market for Web-based tests and certification, offers a complete business system for learning and is the largest Nordic player in e-learning for homes and schools.

The Group's operations are conducted in the following subsidiaries: TestStation, Infinity Learning, Eld Interaktiv, ilearn and Levande Bocker, as well as IQ Media and Ingo.se.

Enlight Interactive currently has 160 employees in Sweden, Norway, Denmark, Finland, the Netherlands and the United Kingdom.
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