REPORT FOR THIRD QUARTER 2009

Norwegian Research Council Names DiaGenic “Most Innovative Company of the Year” The third quarter report for 2009 was approved by the Board of Directors on 29 October 2009. Please find the report and an investor presentation attached. Highlights from the report: • Distributor contract for UK and Ireland signed with a world leading provider of diagnostic testing and services • Minimum sales volumes exceeds 100,000 tests in signed distribution agreements • US strategy for earlier market access initiated • ”Companion Diagnostics” – important strategic focus area for DiaGenic • Notice of Allowance for additional European patent on Alzheimer’s disease and breast cancer • Norway’s most innovative company 2009 prize awarded DiaGenic has signed an agreement with a world leading provider of diagnostic testing and services to patients and doctors to market its BCtect® for early detection of breast cancer and ADtect® for early detection of Alzheimer’s in the UK and Ireland. The distribution agreements covering Austria, Denmark, Finland, Greece, Ireland, Norway, Sweden, Switzerland and United Kingdom, include clauses of minimum sales requirements by distributors in order to keep market exclusivity. For the period from year 2010 up to and including year 2013 cumulative minimum volumes in the above nine countries total more than 100.000 tests. Suggested end user price is €600 per test. Review of US regulations supports marketing of DiaGenic’s tests through CLIA certified laboratories in the US before FDA approvals. Initial dialogue with such laboratory partners have started aiming for earlier market access. Biomarker for ”Companion Diagnostics” is an important strategic area for DiaGenic. This rapidly growing segment of molecular diagnostics is based on a joint cooperation with pharmaceutical companies. Our contract with Merz Pharmaceuticals and our promotion of ADtect® for use in clinical trials illustrate DiaGenic’s increased activities within this field. During third quarter DiaGenic received notice of allowance for its European family 2 patent application. The patent covers the use of a number of important gene sequences in blood for diagnosis and monitoring of, among others, breast cancer and Alzheimer's disease. The patent when granted will be valid until 2023. DiaGenic received the Norwegian Research Council's prestigious "Most Innovative Company of the Year" award. The purpose of this award is to encourage innovation in Norwegian business and industry by making innovative companies more visible. The winner is chosen based on number of votes casted by prominent business and industry leaders of Norway. More than 1,000 business and industry leaders voted this year and DiaGenic received a predominant share of the votes. Net Income totalled NOK -9.3 million for the third quarter in 2009 compared with NOK -8.2 million in the corresponding period in 2008. Total operating costs for the third quarter 2009 amounted to NOK 9.3 million compared with NOK 8.9 million in the third quarter 2008. The company’s liquid assets totalled NOK 7.7 million at 30 September 2009. After the end of the quarter the Company accepted a loan of NOK 5 million with four years term from Innovation Norway. At current cost levels the Company is financed until the beginning of 2010. The Board and its advisors are working to secure long term financing of the Company. Attachments: The Third Quarter report and presentation. Contact: MD PhD Erik Christensen, Managing Director Telephone: +47 95939918 e-mail: erik.christensen@diagenic.com

About Us

NEL ASA is a leading global supplier of hydrogen technology for industrial / energy purposes, and has made over 500 deliveries in more than 50 countries. The company's main products are hydrogen production plants based on water electrolysis, complete hydrogen stations for transport and renewable energy storage solutions. The company has its roots from the hydrogen activities of Norsk Hydro, which dates back to 1927. The company also has a number of patents related to tests for early detection and diagnosis of diseases.

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