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NEONET APPOINTS SCOTT SCHUCHT AS HEAD OF SALES - UK AND IRELAND

Stockholm and London, 10th July 2006 - NeoNet today announced the promotion of Scott Schucht to Head of Sales for UK and Ireland. This announcement, in conjunction with the relocation of NeoNet's London office and the hiring of additional staff, reinforces NeoNet's expansion strategy and commitment to these markets. Mr. Schucht will operate out of NeoNet's new London office location and report to Per Andersson, recently appointed to Global Head of Sales.

Mr. Schucht previously held senior sales positions within NeoNet in New York and London and brings wide sales and industry knowledge from both the US and European markets. Prior to NeoNet, he worked for Bridge Information Systems in New York.

"The promotion of Scott Schucht, the hiring of new staff and the recent move to a new office in London demonstrates dedication and support for expanding our sales operations," said Simon Nathanson, CEO of NeoNet.
"These moves position us well to leverage the growth potential of the UK and Irish markets."

"The UK and Ireland are key markets for NeoNet and I look forward to the opportunity to work together with the London sales team to continue to develop our client relationships in this region," said Scott Schucht.