SECURED NOK 16.8 MILL IN PUBLIC OFFERING

Dolphin has secured NOK 16.8 million in a public share issue based on a book-building process and a retail offering that closed December 12, 2007. The subscription price is NOK 3.75 per share.

The Board of Directors is pleased to have raised sufficient capital to continue aggressively executing Dolphins growth strategy. Dolphin will be on track to reach its stated goal of doubling the company`s revenue in 2008.

The above results of the stock issue will be proposed to be resolved at an extraordinary shareholders meeting to be held today.

The total number of shares outstanding after the issue will be 16,871,111 each with a nominal value of NOK 0.20. The new registered share capital will be NOK 3,374,222.20. The new shares will be listed on Oslo Stock Exchange following the registration in the Norwegian Register of Business Enterprises.

The public offering was managed by Orion Securities ASA.

For further info please contact:
Tim Miller, CEO, +1 508 7405 949
Alex Gundersen, CFO, (+47) 41 47 41 07 www.dolphinics.com