ANNOUNCEMENT OF PRIVATE PLACEMENT AND MANDATORY NOTIFICATION OF TRADE

Dolphin Interconnect Solutions announced today that it has issued 905 000 shares in a private placement subscribed by Norwegian investors. The shares were issued at NOK 9 per share and the capital increase will be executed under proxy given to the  Board of Directors on February 16 2007.

The total number of shares outstanding after the issue will be 12 388 110, each with the nominal value of NOK 0.20. The new registered share capital will be NOK 2 477 622. The new shares will be listed on Oslo Stock Exchange following the registration in the Norwegian Register of Business Enterprises.

The purpose of the stock issue is to increase general liquidity in the Group and partly secure liquidity for the ongoing development of NumaChip, a revolutionary way of building mainframe computers from ordinary computers and to secure a strong launch of Dolphin Express in the enterprise cluster market. The introduction of Dolphin Express is expected to gain momentum with the forthcoming launch of the newly acquired PCI Express based technology.

Primary insider Tor Alfheim was allocated 225 000 shares in the issue and subsequently controls 395 000 shares in the company.

The private placement was managed by Orion Securities ASA.

For further info please contact: Alex Gundersen,
CFO, (+47) 41 47 41 07
www.dolphinics.com