DiaGenic ASA – private placement

With reference to the statement in presentation of the 1st Quarter report 2008 that DiaGenic intends to utilise its authorisation to issue up to 8 million shares and that Kaupthing is engaged as manager in the equity offering, the board of DiaGenic now has decided to carry out the equity offering through a private placement towards professional Norwegian and international investors. The book building will start after the close of Oslo Stock Exchange today.

The planned private placement will amount to maximum 8 million new shares, up to approximately 18,3 % of existing shares of the company. Any new shares will be issued in accordance with the Board proxy established at the Company’s Annual General Meeting held on the 31st of May 2007. The placement will be made at market price.

The purpose of the placement is to finance operating costs and to strengthen the company in negotiations with commercial partners.


Oslo, May 7, 2008

The Board of Directors of DiaGenic ASA