TANDBERG Television to purchase N2 Broadband

January 5, 2005

TANDBERG Television has reached an agreement in principle to acquire the business of Atlanta-based N2 Broadband, an on-demand entertainment solution provider.

TANDBERG Television will acquire privately held N2 Broadband for cash and TANDBERG Television shares. The total value of the deal is expected to be between $110 million and $130 million.

Completion of the transaction is subject to final negotiations, confirmatory due diligence and legal and regulatory conditions.

For more information, visit www.n2broadband.com and www.tandbergtv.com.

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