SBEI Sbe (MM)

Neonode, Inc. a Swedish developer of mobile devices and a pioneer in buttonless, touchscreen mobile phones, today announced the appointment of Mikael Hagman as President and Chief Executive Officer. Mr. Hagman, formerly CEO of Sony Sweden and Sony Finland, assumes his new role on March 5, 2007. He replaces Per Bystedt who will continue in his role as Chairman of the Board. Tommy Hallberg remains in his role as Chief Executive Officer of Neonode AB, a wholly-owned subsidiary of Neonode, Inc. �We are extremely pleased to have Mikael bring his management expertise and extensive experience in consumer electronics to the Neonode management team. His decision to join us is also a good indication of the confidence that exists for Neonode�s operations,� said Per Bystedt. Neonode recently showcased its new mobile phone, the N2, at the 3GSM World Congress in Barcelona to critical acclaim. Neonode, Inc. also recently announced the execution of a definitive merger agreement with SBE, Inc. (NASDAQ:SBEI), to access U.S. capital markets and to provide a strong financial platform for the future of the company. About Neonode Neonode AB was founded in 2001 and is a Swedish developer of mobile devices. The mobile devices are based on patented technologies which enable a unique design and user experience. The devices are also based on an open and upgradeable platform which minimizes the need to constantly update the hardware. Neonode Inc. has recently announced the execution of a definitive merger agreement with SBE, Inc. a publicly-traded company (NASDAQ:SBEI). After shareholder approval of the merger, the combined company's headquarters will be in Stockholm, Sweden, where Neonode's current corporate headquarters is located.