Commencement of subscription period for subsequent offering

Reference is made to the stock exchange notice dated 26 November 2009 regarding completion of private placement in DiaGenic ASA (“DiaGenic” or the “Company”), and the resolution on subsequent offering made by the Company’s general meeting on 18 December 2009. A Prospectus for the subsequent offering was approved by Oslo Børs and made public on 22 January 2010. Reference is made to the prospectus for full details on the subsequent offering. The prospectus is available electronically at www.diagenic.com and by contacting the managers Argo Securities AS (www.argosec.no) and Orion Securities AS (www.securities.no). The subscription period for the subsequent offering commences today, 25 January 2010 at 09:00 (CET), and expires on 8 February 2010 at 17:30 (CET). The subscription price in the subsequent offering is NOK 2.75 per share. The Company’s shareholders per 25 November 2009, with the exception of shareholders allocated shares in the private placement resolved by the Company’s board of directors on 25 November 2009, will receive 0.0853 transferable subscription rights for each existing share in the Company per 25 November 2009. The number of subscription rights to be issued to each shareholder will be rounded down to the nearest whole subscription right. Each subscription right entitles the holder thereof to subscribe for one new share in the subsequent offering. The subscription rights will be traded on Oslo Børs in the subscription period under ticker “DIAG T”. Oversubscription and subscription of shares without subscription rights is permitted. Upon completion of the subsequent offering, the share capital of the Company will be increased by up to NOK 175,000 through issue of up to 3,500,000 new shares. Subscribers of shares in the subsequent offering will receive one warrant for each share allocated to the subscriber in the subsequent offering. Each warrant will entitle the holder thereof to require issuance of one new share in the Company for a subscription price of NOK 3.25. The warrants may be exercised in the period to and including 30 September 2010. Reference is made to the prospectus dated 21 January 2010, and the resolution made by the Company’s general meeting on 18 December 2009 regarding issue of warrants, for further description of applicable terms for exercise of warrants. The expected time table for the subsequent offering is as follows: 25 January 2010: Commencement of subscription period and issue of subscription rights 8 February 2010: End of subscription period On or about 12 February 2010: Allocation, distribution of allocation letters and announcement of the final result of the subsequent offering 16 February 2010: Payment date On or about 23 February 2010: Listing and first day of trading of the new shares on Oslo Børs. Issue of warrants For further information, please contact: Håkon Sæterøy (chairman of the board), telephone +47 92 69 51 75 This information is subject of disclosure requirement according to section 5-12 of the Norwegian Securities Trading Act.