In its company announcent of March 5th 2010 Nordicom announced that an
agreement had been reached on a conditional deal with the group's most
significant creditors regarding improvements to the company's financing
conditions. 

In accordance with the bank agreement, the banks will lower and freeze interest
rates on the debt included in the bank agreement over a period of 3 years,
margins on the mortgage debt will be lowered and the maturity of the bank debt
included will be extended until December 31st 2012. The maturity of the group's
mortgage debt is already 3 years plus. In addition, the agreement will allow
the group greater flexibility by means of a right to pay cumulative interest at
a later date under certain conditions. 

As payment for the banks' participation in the agreement, including lowering of
the current interest rates on the company's bank debt to a fixed rate for 3
years, DKK 70 m nominal worth of convertible bonds will be issued to the
participating banks. The bonds are non-putable for the banks until December
31st 2029, will not be amortized and carry no coupon. In return, the banks have
the right to convert these bonds to shares in the period from January 1st 2013
to September 30th 2014 at the market price at the time of issue (although this
must be at least at par). 

If all bonds are converted into shares this will correspond to 18.1 % of the
share capital. 

After todays' issuance of convertible bonds, the agreement with the banks is
only subject to the following conditions: 

? Reaching a minimum of DKK 50 m worth of conditional pledges to subscribe by
June 30th 2010 at the latest 
? Capital increase of minimum DKK 100 m in net proceeds by September 30th 2010
at the latest. 

In light of this, the company has begun discussions with potential investors
and continues to expect the capital increase to be carried out in Q3 2010 with
Skandinaviska Enskilda Banken (SEB) as adviser, who has been mandated to lead
the capital increase. If the capital increase cannot take place, the bank
agreement and the issued bonds will be cancelled. 

Kind regards,

Nordicom A/S
Board of directors

For further information/comments please contact the Managing Director for
Nordicom A/S, Niels Troen, tel.: (+45) 3333 9303, mobile: (+45) 5151 2342