DOLPHIN SUCCESSFULLY COMPLETES PRIVATE PLACEMENT

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE STOCK EXCHANGE RELEASE.

OSLO, Norway, 10 December, 2010 - Dolphin Interconnect Solutions ASA (OSE: DOLP)

Reference is made to the notice published by Dolphin Interconnect Solutions ASA ("Dolphin") on 8 December 2010 regarding a contemplated equity issue through a private placement (the "Private Placement") of new shares.

The company is pleased to announce that it has received subscriptions for more than NOK 360 million and that the book is closed.

The Board of Dolphin will propose to conduct a subsequent offering directed towards shareholders in Dolphin that did not participate or were not invited to participate in the Private Placement. The subsequent offering issue price will be NOK 2.50, in line with the issue price in the Private Placement. The shares in Dolphin will trade excluding the right to participate in the subsequent offering from 10 December 2010.

SEB Enskilda and First Securities AS are acting as joint lead managers and bookrunners.

For further information, please contact:

Atle Jacobsen
Chairman, Dolphin Interconnect Solutions ASA
Tel. + 47 977 15 336

Erik Hokholt
Board member, Dolphin Interconnect Solutions ASA
Tel. +47 907 56 064

Ketil Sundal
CFO, Dolphin Interconnect Solutions ASA
Tel. + 47 959 22 104

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)