New allocation of options for ODIM group employees

(Hareid, 3 April 2009) As mandated by the general meeting of 4 December 2007, the board of ODIM ASA has allocated new options to personnel in the group. This scheme is intended to form part of an employee incentive programme.

The share option scheme is intended to strengthen the corporate culture. And ensure continuity and a motivated organisation which wants to develop and safeguard their own jobs. This programme represents an important instrument for continuing to contribute to creating shareholder value through growth and improvement processes in the organisation.

The option programme runs over three years, from 2008 to 2010, with an annual allocation of about 2.5 per cent of the share capital. Fifty per cent of the options allocated at each award date can be exercised one year later at the earliest, and the remaining 50 per cent after a further 12 months. Options which have not been exercised at least two and half years after their award will be cancelled. Options allocated on 2 April give holders the right to purchase shares for NOK 29.30 each, which is the closing price on the Oslo Stock Exchange at the award date.

A total of 1.185.980 options have been allocated to 744 employees of the ODIM group in this tranche.

The following primary insiders are included in the programme (with their new shareholding and options in brackets):

Jogeir Romestrand and close associates 11 000 options. Holding after the allocation is 720 112 shares and 24 500 options
Arild Hatløy 8 000 options (111 528 shares, 17 300 options)
Kjetil Leine 8 000 options (0 shares, 17 300 options)
Torgeir Haugan 8 000 options (0 shares, 17 300 options)
Andrew Roy 8 000 options (109 000 shares, 17 300 options)
Håvard Haanes 8 000 options (189 844 shares, 14 300 options)
Per Ingeberg 8 000 options (50 280 shares, 14 300 options)
Øyvind Olsen 8 000 options (2 400 shares, 14 300 options)
Idar Hatløy 8 000 options (50 192 shares, 14 300 options)
Bjørn Roger Andersen 8 000 options (0 shares, 11 150 options)
Ståle Hoff 4 500 options (0 shares, 4.500 options)
Jon Olav Kopperstad 4 500 options (0 shares, 8 700 options)
Øyvind Bunes 4 500 options (4 000 shares, 8 700 options)
Harald Johnsen 1 500 options (0 shares, 2 600 options)
Astri Karin Bjørnevik 3 000 options (0 shares, 5 200 options)
Hans Christian Valen 4 500 options (0 shares, 8 700 options)
Roger Kornberg 4 500 options (0 shares, 8 700 options)
Terje Erstad 4 500 options (2 000 shares, 8 700 options)