Share capital increase
(Lysaker, Norway, 13 October 2006) On 12 October 2006 Navamedic ASA has after the close of the marked completed a private placement of a total of 332,800 shares, at a subscription price of NOK 29,70 per share. The private placement was directed to a selected group of professional Norwegian investors. Gross proceeds from the private placement will be approximately NOK 9,9 million, and net proceeds will be used to strengthen the company's capital base before the international roll-out of the company's osteoarthritis medicine Glucomed/Flexove.As a result of the private placement, the total