(Oslo, 30 November 2000) Mamut has signed a letter of intent with Verio, one of the world’s leading providers of hosting services, regarding joint development and distribution of e-commerce solutions. The Norwegian operation achieved a positive result in the third quarter, and the company will further increase the rate of international investments.

”We are pleased with the positive result created by the Norwegian operation, and will continue to invest internationally according to the company’s plans,” says Eilert Hanoa, CEO of Mamut ASA. “Alliances with different partners will lay the foundation for the international distribution of Mamut’s solutions in 2001”.

Mamut ASA has in the third quarter entered into a number of partnership agreements with national and international parties, and international versions of the company’s e-commerce solutions have been launched. Mamut eCRM was recently launched at Comdex Fall 2000 in Las Vegas. Mamut eCRM is the only solution on the market integrating traditional CRM functionality with an e-commerce solution that includes the company’s e-store as an integrated part of the CRM solution. An international version of Mamut eCRM will be available during the first quarter of 2001.

The agreement with Verio entails development of joint solutions consisting of Mamut’s e-commerce solutions and Verio’s range of services, as well as international distribution of these solutions.

Strong increase in revenue
Mamut had a 36 percent increase in revenue in the third quarter, and achieved a total revenue of MNOK 12 in the period compared to MNOK 8.8 in the same period the previous year. The pre-tax result for the third quarter is MNOK -9.5, compared to MNOK -5.5 in the same period last year. Accumulated revenue for 2000 is MNOK 45.2, compared to MNOK 33 in the same period last year, whilst the accumulated pre-tax result for the year 2000 is MNOK -18.1, compared to MNOK -5.0 in 1999.

The operating margin for the Norwegian operation was approx. 10 percent in the first nine months of the year, and software license and service agreement sales represented over 90 percent of the revenue. The company has a solid equity ratio at 88 percent, and MNOK 30 in cash reserves as of 30.09.00.

Visit www.mamut.com/about/finance/q3 for further information about the third quarter figures.

About Mamut ASA
Mamut ASA is a leading provider of complete information, CRM and e-commerce software for small and medium-sized businesses. Mamut offers comprehensive CRM and web solutions as well as mini-ERP applications and software for personal finance and tax management at the lowest prices on the market. More than 50,000 customers use Mamut software daily. The company has received numerous awards for its product range and has subsidiaries worldwide. Further information about Mamut and the company’s products can be found at www.mamut.com

About Verio Inc.
Verio Inc. is a wholly owned subsidiary of NTT Communications (NTT Com), which provides long distance international telecommunications reaching over 200 countries worldwide. Verio is the world’s largest operator of web sites for businesses and a leading provider of comprehensive Internet services. The company offers customers a broad range of Internet solutions, including high-speed access, web hosting, e-commerce, virtual private networks and other enhanced services. Verio provides web hosting services to customers in more than 170 countries and supports its operations with a global infrastructure and systems including a Tier One network. The combination of Verio and NTT Com offers Internet services to meet the growing and diverse needs of all businesses, including small to medium enterprises, large global enterprises, multi-national corporations, and web-centric firms. For more information, visit www.verio.com and www.ntt.com/index-e.html.

For further information, please contact:
Eilert Hanoa, CEO Mamut, tel: + 47 23 20 35 00, e-mail: press@mamut.com
Moos Bulder, President Verio Europe, tel: + 31 20 658 6212