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                                                                    EXHIBIT 99.2


                 OLICOM REDUCES EXPECTATIONS FOR FULL YEAR 1999

COPENHAGEN, DENMARK AND DALLAS, USA, MAY 27, 1999 - Olicom A/S (Nasdaq NMS:
OLCMF), reduces expectations for full year 1999.

Based on the continuing weakening of the Token-Ring market, which particularly
in the North America has been significantly worse than previously expected by
the Company and market analysts, it is now considered unlikely that Olicom will
be able to achieve its previously announced financial targets for 1999.
Achievement of these goals were predicated, in addition to a more stable
development of the Token-Ring market, on the Company's ability to penetrate the
Fast Ethernet switching market, the successful establishment of strategic
alliances, and on Olicom's continued leadership in Token-Ring. At this stage, it
is premature to comment on the Company's ability to penetrate the Fast Ethernet
market in 1999, since Olicom's suite of Fast Ethernet products, which was
introduced in March, is not expected to impact revenue before the second half of
1999.

On this basis, Olicom has further intensified its efforts to establish strategic
alliances and partnerships. With the previously announced acquisition of a
majority holding in Digianswer, the Company's strategic position has been
significantly strengthened. Amongst Digianswer's core competencies are the
development and implementation of the new Bluetooth technology for wireless
communication, which is regarded as a future growth opportunity.

For full year 1999, the Company now expects that revenue will be below that
reported for 1998. As a consequence of the uncertainty regarding the development
of the Token-Ring market and the other above-mentioned factors, Olicom is
presently unable to provide further details on its financial outlook for the
current year.

                                    - more -

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OLICOM BACKGROUND

Olicom, a leading global supplier of high-performance data networking solutions,
designs, develops, manufactures, and markets its products for large,
geographically dispersed enterprises. It specializes in providing campus network
connectivity solutions, advanced technical support services and ClearStepSM
evolution strategies for networks in transition. The Company's products are
distributed worldwide by a network of strategic partners and resellers. More
information on Olicom is available from the Company's SEC filings or by
contacting the Company directly. See Olicom news, product, and service
information on its Web site at http://www.olicom.com.

Olicom is a registered trademark. ClearStep is a service mark of Olicom A/S. All
other brand and product names are registered trademarks of their respective
holders.

Except for historical information contained herein, the matters discussed in
this news release may contain forward-looking statements, involving risks and
uncertainties that may cause actual results to differ materially. Among the
factors that could cause results to differ are uncertain market conditions,
overall demand levels for networking solution products, the timely development
of new products, intense competition in the networking industry and the
Company's ability to execute strategies efficiently and effectively. Further
information may be found in Olicom's periodic filings with the US Securities and
Exchange Commission (SEC), including the most recent reports on Form 20-F and
6-K, which identify important risk factors related to the Company's business
that could cause actual results to materially differ from those contained in the
forward-looking statements.

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