NOKIA VENTURES JOINS WITH HOLTRON TO INVEST IN FINNISH HIGH TECH

Helsinki - July 2, 2000 - AVS Technologies Oy of Espoo, Finland, is about to launch powerful new video distribution software designed for WWW and mobile communication applications. Information on the software can already be viewed on the company website www.avstechnologies.com.

The software is being launched in association with Nokia Ventures and the Finnish seed capital investor Holtron. AVS Technologies is the second investment in a Finnish company by Nokia Ventures, following its investment in RIOT Entertainment, which specializes in game applications, in April.

"The new AVS application allows the man on the street to view video images easily. Video transmission over the Internet is a very promising and fast-growing new sector. We chose AVS because its solution focuses on making video applications readily accessible to everyday WWW users," says Antti Kokkinen of Nokia Ventures.

According to Antero Alvessalo, CEO of AVS Technologies, "MVQ technology allows the introduction of revolutionary 'rich media' applications into standard Internet browser environments. Java technology also means we'll be able to distribute to mobile end-user equipment in the future - simply and cost-efficiently."

Nokia Ventures is a fund established in Menlo Park, California, in 1998. The fund is putting USD 150 million in venture capital into seed-stage eCommerce, IT and communications companies.

Nokia has set up the fund in order to gain familiarity with new technologies, business management approaches and markets outside the strategic core areas of its current business units. Nokia Ventures invests in companies which have the potential to exploit rapidly evolving opportunities in vast new markets and which are likely to benefit from the resources, experience and contacts of Nokia Ventures and the global penetration of the Nokia brand. For more information, visit the website www.nokiaventures.com.

Finland's Holtron Group comprises Holtron Ltd and HMS Holtron Management Services Ltd. The Group companies specialize in consultancy for seed-stage IT companies and in investment. For more information, visit the website www.holtron.fi.

AVS Technologies is a Finnish limited-liability company engaging in new-generation video distribution technology for both wireless and fixed Internet use. AVS solutions work via a standard Internet browser environment without needing any special plug-ins. Established in 1996, AVS is based in Espoo, Finland.