New stock issue by Nocom to carry out merger with TurnIT and IAR Systems

The Nocom Board of Directors announced there decision of March 10, 2005 to declare the publicly offered terms of purchase to the stock and warrant holders in TurnIT AB (publ) and stockholders in IAR Systems AB (publ) effective. As consideration for the public offering as declared, and as authorized by the special stockholders meeting held on January 27, 2005, the Board of Directors resolved at their meeting of March 10 2005 to: - Issue no more than 5,744,824 new series B shares for subscription by stockholders of IAR Systems AB, paid in kind as non-cash consideration for no more than 5,744,824 shares of IAR Systems AB, whereby one IAR Systems AB share entitles the holder to one Nocom AB series B share; - Issue no more than 39,623,378 new series B shares for subscription by stockholders of TurnIT AB paid in kind as non-cash consideration of no more than 1,128,000 series A and no more than 157,365,510 series B shares of TurnIT AB, whereby four shares of TurnIT AB (regardless of the class of stock) entitles the holder to one Nocom AB series B share; - Issue no more than 19,811,509 new series B shares for subscription by holders of series A or B 2004/2005, or series B 2004/2005 warrants issued by TurnIT AB who accept alternative I of the merger offer to these warrant holders, whereby every whole ten warrants (regardless of series) entitles the holder to subscribe to one new Nocom AB share at the price of SEK 3.00; - Issue no more than 19,811,509 warrants entitling the holder to subscribe to the same number of Nocom AB series B shares up to and including December 20, 2006 at the subscription price of SEK 3.00 kronor per share. These warrants shall be issued without consideration to any stockholder subscribing to the cash emission described above; and - Issue no more than 39,623,018 warrants entitling the holder to subscribe to the same number of Nocom AB series B shares up to and including June 30, 2005 at the subscription price of SEK 3.00 kronor per share. These warrants shall be issued without additional consideration at the time consideration is paid to the holders of series A or B 2004/2005, or series B 2004/2005 warrants issued by TurnIT AB who accept alternative II of the merger offer to these warrant holders. At their meeting the Nocom Board of Directors also resolved to delay financial reporting for the first quarter of 2005. The interim statement for the period from January to March 2005 will be published on May 25, 2005. For further information please contact: Stefan Skarin CEO, Nocom cell phone: 0708 – 65 10 05 e-mail: stefan.skarin@nocom.se Stefan Ström CFO, Nocom cell phone: 0708 – 65 10 68 e- mail: stefan.strom@nocom.se