MGINE COMBINES FORCES WITH LEADING WIRELESS COMPANIES

Mgine Technologies Oy (Mgine) has today acquired the entire share capital stock of Capslock Oy and WCL Wireless Commerce Limited Oy (WCL). Mgine formed group of companies and business operations strengthens its position as a provider of software and services in the mobile environment.

Press Release May 10, 2001

MGINE COMBINES FORCES WITH LEADING WIRELESS COMPANIES

Mgine Technologies Oy (Mgine) has today acquired the entire share capital stock of Capslock Oy and WCL Wireless Commerce Limited Oy (WCL). In conjunction to this, it has been agreed that the systems and mobile integration business operations of Done Wireless Oy will be transferred to Mgine. In addition, Estonian Mobile Telephone Company Ltd (EMT), Estonia's largest mobile operator, is one of the strategic owners of Mgine. As a result of these acquisitions, the formed group of companies and business operations strengthens its position as a provider of software and services in the mobile environment. The number of the Mgine Group's personnel will be 175 and the pro forma net sales of Mgine Group is expected to exceed EUR 15 million in the year 2001.

Combining personalization and positioning competencies of Mgine to the commercially successful applications from WCL and terminal transcoding technologies from Capslock will significantly strengthen the companies' position as the leading provider of mobile related software and solutions. In addition, by joining the efforts, the companies can achieve improved efficiency by streamlining the product development and enhancing their product offering to the clients. Mgine Companies' most important clients include DNA Finland, eBay, EHPT (Ericsson Hewlett Packard Technologies), EMT (Estonian Mobile Telephone Company Ltd), Ericsson, Fortum, Nokia, Sonera, Telia and TerraMobile -iobox.

The newly formed group of Mgine Companies becomes a leading Finnish mobile wireless company, which has the abilities to expand its business activities internationally in a considerable way. Furthermore, the Companies believe that they can take an active role in consolidating the mobile wireless branch. An application for a listing of the shares of Mgine Holding Oyj, the company which will include Mgine Companies, on the NM-list of the Helsinki Exchanges will be submitted in such a way that the shares of Mgine Holding Oyj are expected to be listed on October 1, 2001.

Capslock

Capslock was founded in the year 1996. Capslock develops, licenses and offers technologies as well as service concepts to enable mobile operators and service providers to design and implement value added services for their clients. Capslock is located in Finland and in the USA.

The products of Capslock are building blocks for value added services, which use multi-environment applications and devices like WWW, SMS, WAP and PDA. Capslock Advanced Wireless Architecture (CAWA) facilitates Capslock's clients to offer their existing Internet services and related contents in wireless environment in a cost-efficient way. The application architecture of Capslock is open, independent from dedicated third parties' software.

Capslock's partners include e.g. BEA Systems, Nokia, Ericsson, KPMG International and Compaq and company is a solution provider in Hewlett Packard's E-Bazaar initiative.

WCL

WCL was founded in 1999. WCL is a frontrunner in developing and providing solutions in mobile environment. The technology of WCL enables companies to rapidly deploy standalone wireless applications by adding wireless interactivity to them. WCL's mAuction service is rapidly becoming one of the most interesting solutions in mCommerce.

WCL's clients comprise eBay, Railtrack, Teletext and the Guardian Newspaper and its key business partners include Nokia and Hewlett Packard.

Company's main locations are currently in Finland and in the UK.

Mgine

Mgine Technologies Oy is a company specializing in software platforms based on personalization and positioning technologies. In addition to these software platform products, the company provides applications, consulting and systems integration services that support end-to-end implementation of personalization and positioning software.

Key clients of Mgine Technologies include DNA Finland, EMT, Sonera and its key business partners are Nokia, Ericsson and EHPT.

Mgine has offices in Finland and Estonia.

Done Wireless

The systems and mobile integration business operations to be transferred to Mgine strengthen the competencies of Mgine in integration and facilitate the offering of Mgine, especially for industry.

Most important clients of Done Wireless include Fortum and Gasum.

Further information is available from:

CEO Mikko Laitinen, Mgine Technologies, gsm +358 50 5151 151, mikko.laitinen@mginetechnologies.com

http://www.mginetechnologies.com
http://www.capslock.fi
http://www.wcl.com
http://www.donesolutions.com