Navamedic ASA acquires Vitaflo Scandinavia AB and initiates a new strategic phase.

(Lysaker, 22 August 2007): On 21 August Navamedic ASA entered into an agreement with POA Consulting Scandinavia AB concerning the acquisition of the Swedish speciality pharmaceutical company Vitaflo Scandinavia AB at a purchase price of SEK 90 million (enterprise value), of which SEK 54 million shall be settled in cash and the remaining amount shall be settled in the form of shares in Navamedic. Navamedic will finance the acquisition through an underwritten share issue and debt financing.

A presentation of the acquisition will be held in connection to with the Q2-presentation held today at 11.00 at Vika Atrium.

For further information, please contact: Øyvind W. Brekke, CEO Navamedic ASA E-mail: Office: +47 67 11 25 40 Mobile: +47 91 19 81 64

Bernt-Olav Røttingsnes, CFO/IRO Navamedic ASA E-mail: Office: +47 67 11 25 44 Mobile: +47 91 34 70 21