STOCKHOLM, Sweden, Nov. 13, 2002 (PRIMEZONE) -- As previously announced, the market situation that Aspiro currently finds itself in, has led to the Company initiating a process to find a long-term and durable financial and business structure. Aspiro has held discussions with external parties, but has not reached any results up to this date.
For some time now, the telecom market has been weak with long sales cycles and a cautious attitude among clients. In spite of this situation, Aspiro has succeeded in maintaining a stable sales volume and has today a customer base of 34 telecom operators and portals. The drawn-out depression in the telecom market has however implied that sales during the last quarters developed less well than the Company's management had previously anticipated.
In addition to the Company's restructuring program to adjust the organization to the present market conditions which was initiated earlier this fall, Aspiro has also held discussions with external parties regarding a funding of the company. These discussions have so far not resulted in ensuring a continued stable and long-term financing. The financial situation of Aspiro is today uncertain. Further information will be published on Monday.
For more information: Aspiro Hakan Persson, CEO +46 (0)708 368130 hakan.persson@aspiro.com Aspiro Helena Gynnerstedt, Head of Information +46 (0)709 91 80 18 Helena.gynnerstedt@aspiro.com
About Aspiro
Aspiro offers mobile telecom operators, portals, companies and organizations a wide range of attractive services designed to meet the consumer's needs for information, entertainment and communication via mobile media. Today Aspiro has a customer base of more than 30 operators and portals in Europe and North America.
Founded in 1998, Aspiro is today an important international player in the mobile services market. Aspiro's business concept, organization and operations are based on many years of experience gained in the mobile telecommunications and IT sectors. Aspiro is stock quoted on Stockholmsborsen's O-list.
For more information, please visit our homepage www.aspiro.com
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