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EXHIBIT 99.1

           OLICOM REPORTS REVENUE AND EARNINGS FOR FIRST QUARTER 1998

Copenhagen, Denmark and Dallas, Texas, April 22, 1998 - Olicom A/S (Nasdaq:
OLCMF), a leading global supplier of high performance data networking solutions,
today reported financial results for the first quarter, which ended March 31,
1998.

Net sales for the first quarter of 1998 were $65.9 million, up 36 percent from
$48.4 million in net sales reported in the first quarter of 1997. Net income for
the first quarter of 1998 was $4.6 million, unchanged compared with the first
quarter of 1997. Earnings per share were $0.25 per share on 18.6 million shares
outstanding compared with $0.31 per share on 14.9 million shares outstanding
reported for the first quarter of 1997. The increase in the number of shares
outstanding reflects the additional shares issued in connection with the
acquisition of the former CrossComm during 1997. All per share amounts are
computed on a diluted basis.

Gross Margin for the first quarter of 1998 was 47.5 percent, up from the 46.0
percent reported in the first quarter of 1997. This increase was primarily due
to increased sales of higher margin network systems products.

"Given the general softness experienced by the industry throughout the quarter,
we are pleased with our results, especially the strong Token-Ring switch sales
in the United States," said Lars Stig Nielsen, Olicom's president and chief
executive officer. "During the first quarter, we introduced several Fast
Ethernet and Token-Ring products that strengthened our leadership position in
providing our customers with the options they need for long-term viable
networks. This trend will continue in the second quarter as we unveil our
High-Speed Token-Ring products next month at Networld+Interop in Las Vegas."

During the quarter, Olicom officially launched its ClearStep(TM) migration
strategy for upgrading enterpriSE networks. ClearStep is designed to maximize
the value of existing investments in Token-Ring and SNA networks while
delivering the widest range of cost-effective options for upgrading network
performance. ClearStep is an integral component of Olicom's delivery of
end-to-end systems solutions.

In February, the Dell'Oro Group documented Olicom's position as the number one
supplier of Token-Ring switches during the fourth quarter of 1997. "Independent
market research showed that in a single quarter following the release of our
CrossFire(TM) 8600 Token-Ring Switch, Olicom moved ahead of all competitors IN
this market segment. According to the Dell'Oro Group, Olicom's continued
price-performance leadership gave the Company a 23 percent market share of the
total Token-Ring switch port shipments worldwide in the quarter. In the first
quarter of 1998, Olicom's Token-Ring switch port shipments were 30,400, up 26
percent sequentially," said Niels Christian Furu, chief operating officer of
Olicom A/S.

In a separate release, the Company also announced the departure of Michael Camp
from the position as president of Olicom, Inc., the appointment of Per Bruno
Larsen as executive vice president, global marketing of the Olicom Group and
president of Olicom, Inc. and the promotion of David F. Burkey from chief
financial officer to chief operating officer of Olicom, Inc. Mr. Camp will
remain on the board of Directors of Olicom, Inc.

ABOUT OLICOM

Olicom, a leading global supplier of high-performance networking solutions,
designs, develops, manufactures, and markets its products for large,
geographically dispersed enterprises. Olicom specializes in providing end-to-end
connectivity solutions, advanced technical support services and ClearStep(TM)
evolution strategies for networks in transition. The company's products are
distributed worldwide by a network of strategic partners and resellers.
Additional information about Olicom is available at Olicom's web site:
http://www.olicom.com. Olicom is a registered trademark.




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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 and intense competition in the networking industry. Further
information may be found in Olicom's periodic filings with the U. S. 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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                 Statements of Income and Balance Sheets Follow.