March 22, 2000 - 12snap, the world's first auction shopping service via mobile phone, has closed its second round of financing at 13million DM, led by Nokia Ventures. As one of the first mobile commerce suppliers in the world, 12snap aims to build a pan-European mobile shopping service with the help of Nokia's investment. The service is currently available in Germany and is expected to be launched in the UK, France and Italy during the summer..

"We're glad that 12snap''s the first European business to be added to our investment portfolio," says Martti Malka, responsible for Nokia Ventures' European operations. "A completely new service, a great team and a clear time advantage over other potential competitors are the factors that position 12snap extremely well to become a leading company in the rapidly expanding mobile commerce market in Europe."

12snap's service enables consumers to purchase entertainment tickets, last-minute trips, electronic products and much more in auctions via their existing mobile phone. The service uses Cell Broadcast and Short Message Servicetechnology and is available to 90% of all mobile phone users. Since launching in Germany in January 2000, over 17,000 customers have registered to the service and more than 100,000 took part in 12snap auctions. The auctions are the first step towards a comprehensive mobile shopping service.

12snap is working with established companies such as Media Markt, Quelle and Deutsche Entertainment AG and its marketing partners include MTV and MCCsmart. In the future it plans to develop its service to make use of new technologies including WAP and GPRS.

Nokia Ventures is the lead investor of this finance round. Other investors include Viventures, Apax Europe IV, an investment pool advised by Apax Partners & Co, and Goldman Sachs. The Technologiebeteiligungs-Gesellschaft of the Deutsche Ausgleichsbank and Bayernkapital are silent investment partners.

Jean Pascal Tranié, managing general partner of Viventures, comments "Viventures was the first investor of 12snap in September 1999. We were immediately convinced that they had a clear first mover advantage on a very attractive market, the wireless e-commerce. 12snap addresses both the existing GSM base through CBC/SMS technology and the next generation WAP phones. Since September the team has achieved great success and we are very proud to have been able to help them."

Christian Reitberger of Apax Partners & Co in Munich commented on the investment, "12snap ideally fits the m-commerce focus of the investment pools we advise. It's a pioneer in its field - we will work with the team to further develop and geographically roll out new services on the basis of the 12snap platform as quickly as possible".

Antoine Schwartz, managing director and co-head of technology investments at Goldman Sachs International, said "We are delighted to invest alongside value-added partners in this strong management team active in a fast-growing space."

About 12snap
12snap ("one, two, snap!") provides consumers with a shopping channel over their current mobile telephone. 12snap launched in Germany in the beginning of 2000 with over 23,000 people participating in the first 115 auctions. Customers bought items including collector CD sets, exclusive vacations and even the right shoe of the best striker in the German football league. Currently, 12snap is expanding across Europe, with teams set up in the UK, France and Italy. For more information visit: www.12snap.com

About Nokia Ventures
Based in Menlo Park, Nokia Ventures L.P. is a US $150 million venture capital fund formed in 1998 to invest in early stage, high-growth companies in the areas of e-commerce, information technology and communications. Nokia Corporation has invested in the fund with the express intent to gain exposure to new markets, business models and technologies beyond the reach of Nokia's current business unit strategies. Nokia Ventures seeks partnerships with leading-edge companies attacking high-growth market opportunities that will benefit from the combined resources, experience and contacts of the Nokia Ventures team and from the association with a world-class brand. For more information visit www.nokiaventures.com.

About Viventures
Viventures is a venture capital fund with a presence in the US, Europe and Asia. The fund was established to provide capital for innovative telecommunications and Internet businesses. Created by the Vivendi Group, the fund's largest investor, it now counts for? 18 leading financial and industrial corporations with substantial interests in the high-tech industry, such as British Telecom, Mannesmann, Siemens Venture Capital, Nokia, Cisco, SG Asset Management, la Compagnie Nationale à Portefeuille , Audiofina, Compagnie Financière et Industrielle Gaz & Eaux, , Sojecci Ltée, Donaldson, Lufkin & Jenrette, EDB-Singapore funds, Viel & Cie, Europatech, Net Fund Europe, and private investors. Viventures is currently launching Viventures 2, a $500m fund. For more information visit www.Viventures.com.

About Apax Partners & Co
Apax Partners & Co advicies investment pools exceeding a total volume of $5,5 billion under management. With offices in Munich, London, Paris, Madrid, Tel Aviv, New York, Palo Alto and Tokio, it''s one of the largest and most global players in the private equity arena. Apax focuses on six industries, the internet being core to each of these sectors' investment strategies. Mobile commerce is one of those "hot spots". The Apax portfolio encompasses service providers like Webraska Mobile Technologies and infrastructure providers like Argo Interactive. Apax is one of the most active investors in the Internet economy with investments in companies like Clicksure, beenz, iMediation, PaperX, PecuNet, ENBA, NetDoktor, eDreams, QXL and many others.

About Goldman Sachs
Goldman Sachs is a leading international investment banking firm and has been active in the private equity business since 1986. Goldman Sachs is currently expanding its activities in this area in Europe with a special focus on technology companies. In the U.S. Goldman Sachs is already one of the leading investors in the technology sector. 12snap is Goldman Sachs' 7th investment in Germany in the last 12 months.