New backer for Meridea Financial Software Ltd. Nordic Venture Partners to back Meridea's international development

Friday 23rd April 2004 -- Meridea's management team supported by it's venture capital investor 3i Finland gathered a 2nd round financing for a total of 10 MEUR. A new VC investor, Nordic Venture Partners (NVP), together with Meridea's existing owners Sampo and 3i invested in the company. Now the investors in Meridea consist of Nokia, Accenture, Sampo, NVP and 3i.

Meridea plans to use the 10 MEUR financing for the ongoing development of sales activities in core target markets in the Nordic countries, Central and Western Europe and Asia.

"NVP is keen to actively work with Meridea's management to strengthen the company's growth potential in Nordic and abroad," says partner Jukka Rauhala of NVP. "Our short-term aim is to gain an opening in the UK and Nordic countries."

An opening on the Asian market was witnessed just recently this month, when
CITIC Industrial Bank of China placed an order with Meridea for mobile
banking software.

In its home market in Finland, Meridea has already gained important customer
references from Sampo, a major financial group, and AREK Oy (formerly ITPAL Oy), the company responsible for revamping the pensions system.

"With further financing and the larger involvement of venture capital community, Meridea is now particularly well placed to develop its overall
business long term," sums up Esa Tihilä, Meridea's CEO and President.

Further information is available from:
Esa Tihilä
CEO and President, Meridea Financial Software Ltd.
Mobile: +358 400 522 053

Jukka Rauhala
Partner
Nordic Venture Partners
Mobile: +358 40 519 0643

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