GIPS – Offer to the GIPS’ option holders to waive their options against cash consideration

San Francisco – June 9, 2010 - Global IP Solutions (GIPS) Holding AB (publ) (“GIPS”) announced today that further to the transaction agreement entered into between GIPS and Google Inc. (“Google”) regarding the voluntary offer by Google Acquisition Holdings Inc. to acquire all the shares of GIPS as announced on May 18, 2010, GIPS resolved to offer to the GIPS employee stock option holders to waive their rights under all outstanding options for cash consideration. The total cash consideration amounts to approximately NOK 11 million if all option holders accept to waive their options.

The offer to the GIPS optionholders is subject to (1) Google Acquisitions Holding Inc. declaring the voluntary offer for the shares of GIPS unconditional and (2) the holders of more than 90% of the issued and outstanding shares and votes of GIPS at the time of completion of the voluntary offer having accepted the voluntary offer.

For further information please contact

William Scharninghausen, CFO Tel: +1 415.397.2555

John Gallagher, Investor Relations Tel: +1 415.746.1155

Email: ir@gipscorp.com

Important notice

Not for release, publication or distribution in Australia, Canada, Japan, the United Kingdom or the United States or elsewhere where such dissemination or distribution is not appropriate or lawful. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company (the "Securities") in Australia, Canada, Japan, the United Kingdom, the United States or in any other jurisdiction. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.

About Global IP Solutions

Global IP Solutions (GIPS) provides best-in-class voice and video processing in IP communications. GIPS enables its customers to deliver unmatched quality, with a faster time to market and less risk than alternative solutions. GIPS serves application developers, service providers, and network equipment vendors. Its customer list includes Nortel, Oracle, Samsung, WebEx, Yahoo!, AOL and other key players in the VoIP market. The company is headquartered in San Francisco with offices in Stockholm, Boston and Hong Kong. More information at www.gipscorp.com

This information is subject to disclosure in accordance with the Norwegian Securities Trading Act section 5-12.