06 November 2006

ASI Launches Estonian Instrumentation Company to the Global Market

Tallinn, November 7, 2006 – Investment Group Ambient Sound Investments (ASI) invests 1,5 million EEK to take Estonian manufacturer of electronic measurement instruments Evikon MCI to the global market. Evikon MCI develops sensor-based measurement devices and systems with a growing demand in the international market.

Evikon and ASI, the company established by the four founding engineers of Skype agreed to raise Evikon's share capital by 1,5 million EEK. As the result of this agreement the investment group will acquire 23% of the electronics manufacturer. The remainder of the company belongs to the three members of the management board. In addition, this agreement grants Evikon an optional convertible loan.

"We decided to invest in this company because Evikon MCI is top player in the instrumentation market," said ASI CEO Toivo Annus. "Our mutual goal is to use this potential, concentrate on product development and go to the global market."

According to Madis Einasto, Evikon CEO, the investment gives the company an opportunity to make the next big step forward. "We have marketed our own products mainly in the Baltic States and other neighboring countries but we have not yet competed in the global market."

Einasto said the investment will take the whole company to the next level. In particular, it will be used for developing new products, production and international marketing. Hiring high-level specialists also remains an important aspect for the company.

Evikon MCI has 15 years of experience in the measurement instrumentation industry and the products of the company are used by well-known companies in food industry, energy, heating and municipal sectors, construction and many other fields. The company has developed a competitive product portfolio and is also active in technology R&D. Evikon MCI is one of the founders of Estonian Nanotechnology Competence Center.

Einasto says the demand for accurate sensor-based measurement devices is on the rise because the technologies are getting cheaper and can be used in growing number of sectors.

"We adapt the advanced technologies now used in semiconductor industry and pharmacy for other sectors as well. These include also building automation devices that will save energy costs by regulating heating and ventilation automatically, precisely depending on air quality and weather conditions," Einasto explained.

Evikon MCI

The company, established in 1991, manufactures and markets measurement instruments and systems, based on various sensor technologies, for determination of temperature, pressure and chemical composition. The product range includes temperature sensors and transmitters, detectors of combustible and toxic gases and a number of other devices for use in manufacturing, energetics, building automation and other fields. Evikon's customers include several well-known local and international companies such as SGS, Inspectorate, Filter AS and Põlva Piim. For more information, please visit: http://www.evikon.ee

Ambient Sound Investments

The investment group Ambient Sound Investments, established by the four founding engineers of Skype, has invested in six technology companies since March 2006. Investment portfolio includes the following companies: semiconductor developer Clifton, remote tracking device producer Oskando, radio communications technology developer Modesat Communications, telemetry company Connecty, time stamping technology developer GuardTime and electronics manufacturer Evikon MCI. For more information, please visit: http://www.asi.ee/

Additional information:

Madis Einasto
CEO, Evikon MCI
+372 55 37978
Toivo Annus
CEO, Ambient Sound Investments