Exercise of employee share options in Opera Software ASA

Thu, Mar 10, 2011 08:44 CET

1. Participants in the Company’s share option program have on March 9th
2011 exercised a total number of 863 067 options. Following the exercise,
863 067 shares will be transferred from Opera Software’s holding of own
shares. Subsequent to the transaction Opera Software ASA holds 386 399 own
shares.

2. Options exercised by primary insiders March 9th 2011:

Anthony Nichols has exercised 870 options in the Company, corresponding to
870 shares at the strike price of NOK 12.00.

William Raduchel has exercised 25 000 options and bought 25 000 shares in the Company,
corresponding to 25 000 shares at the strike price of NOK 24.00.

Christen Krogh has exercised 234 500 options in the Company, corresponding
to 234 500 shares at the strike price of NOK 12.00.

Lars Erik Bolstad has exercised 42 000 options in the Company,
corresponding to 42 000 shares at the strike price of NOK 12.00.

Stig Halvorsen has exercised 10 045 options in the Company, corresponding
to 10 045 shares at the strike price of NOK 12.00 and 2 000 options in
Company, corresponding to 2 000 shares at the strike price of NOK 16.60.

Johan Borg has exercised 10 045 options in the Company, corresponding to
10 045 shares at the strike price of NOK 12.00.

Nicklas Larsson has exercised 35 000 options in the Company, corresponding
to 35 000 shares at the strike price of NOK 12.00 and 2 000 options in
Company, corresponding to 2 000 shares at the strike price of NOK 16.60

Karl Anders Øygard has exercised 7 175 options in the Company,
corresponding to 7 175 shares at the strike price of NOK 12.00.

Lars Aarhus has exercised 3 870 options in the Company, corresponding to
3 870 shares at the strike price of NOK 12.00.

Tor Odland has exercised 3 500 options in the Company, corresponding to
3 500 shares at the strike price of NOK 12.00.

Malin Rundberg has exercised 2 870 options in the Company, corresponding to
2 870 shares at the strike price of NOK 12.00 and 1 200 options in
Company, corresponding to 1 200 shares at the strike price of NOK 16.60.

Charles McCathieNevile has exercised 1 127 options and bought 700 shares in the Company,
corresponding to 1 127 shares at the strike price of NOK 12.00.

Erika Gillemyr, a related party to Rikard Gillemyr has exercised 2 870
options in the Company, corresponding to 2 870 shares at the strike price
of NOK 12.00.

3. Transfer of rights

On March 9th 2011, the primary insiders mentioned below transferred their
rights to receive shares resulting from the exercise of options to a third
party. The sales amount will be finally determined on the basis of the
price subsequently obtained by the third party when selling the shares in
the market. Still, primary insiders cannot be held liable for losses
incurred by the third party if the shares are later sold below the strike
price. Final compensation for the transferred rights will be reported to
Oslo Børs when known.

Anthony Nichols has transferred 870 rights
Christen Krogh has transferred 234 500 rights
Lars Erik Bolstad has transferred 42 000 rights
Stig Halvorsen has transferred 12 045 rights
Johan Borg has transferred 10 045 rights
Nicklas Larsson has transferred 37 000 rights
Karl Anders Øygard has transferred 7 175 rights
Lars Aarhus has transferred 3 870 rights
Tor Odland has transferred 3 500 rights
Malin Rundberg has transferred 4 070 rights
Charles McCathieNevile has transferred 427 rights
Erika Gillemyr has transferred 2 870 rights

4. Purchase of shares

On March 9th 2011, the primary insiders mentioned below entered into an
agreement to use part or all of the compensation mentioned in item 3 to
purchase shares. When known, the final number of shares, along with the
compensation, will be reported to Oslo Børs.

Lars Aarhus
Stig Halvorsen

5. New holding

After exercising options, Anthony Nichols holds 4 018 unexercised options
in the Company, corresponding to 4 018 shares at the strike price of NOK
12.00, 4 800 unexercised options in the Company, corresponding to 4 800
shares at the strike price of NOK 16.60 and 15 000 unexercised options in
the Company, corresponding to 15 000 shares at the strike price of NOK
21.80.

After exercising options, William Raduchel holds 60 000 unexercised
options in the Company, corresponding to 60 000 shares at the strike price
of NOK 14.00, 100 000 unexercised options in the Company, corresponding to
100 000 shares at the strike price of NOK 14.15, 20 000 unexercised
options in the Company, corresponding to 20 000 shares at the strike price
of NOK 14.40, 25 000 unexercised options in the Company, corresponding to
25 000 shares at the strike price of NOK 23.60 and 25 000 unexercised
options in the Company, corresponding to 25 000 shares at the strike price
of NOK 24.00. As of today the primary insider holds 120 000 shares in the
Company.

After exercising options, Christen Krogh holds no options in the Company.
As of today the primary insider holds 15 921 shares in the Company.

After exercising options, Lars Erik Bolstad holds 12 000 unexercised
options in the Company, corresponding to 12 000 shares at the strike price
of NOK 16.60, 30 000 unexercised options in the Company, corresponding to
30 000 shares at the strike price of NOK 21.80.

After exercising options, Stig Halvorsen holds 6 000 unexercised options
in the Company, corresponding to 6 000 shares at the strike price of NOK
16.60. As of today the primary insider holds 2 087 shares in the Company.

After exercising options, Johan Borg holds 28 000 unexercised options in
the Company, corresponding to 28 000 shares at the strike price of NOK
14.60, 12 000 unexercised options in the Company, corresponding to 12 000
shares at the strike price of NOK 16.60 and 10 000 unexercised options in
the Company, corresponding to 10 000 shares at the strike price of NOK
21.80.

After exercising options, Nicklas Larsson holds 6 000 unexercised options
in the Company, corresponding to 6 000 shares at the strike price of NOK
16.60, 9 000 unexercised options in the Company, corresponding to 9 000
shares at the strike price of NOK 21.80 and 10 000 unexercised options in
the Company, corresponding to 10 000 shares at the strike price of NOK
27.90.

After exercising options, Karl Anders Øygard 10 045 unexercised options in
the Company, corresponding to 10 045 shares at the strike price of NOK
12.00, 8 000 unexercised options in the Company, corresponding to 8 000
shares at the strike price of NOK 16.60, 20 000 unexercised options in the
Company, corresponding to 20 000 shares at the strike price of NOK 21.80
and 10 000 unexercised options in the Company, corresponding to 10 000
shares at the strike price of NOK 27.90. As of today the primary insider
holds 754 131 shares in the Company.

After exercising options, Lars Aarhus holds 3 018 unexercised options in
the Company, corresponding to 3 018 shares at the strike price of NOK
12.00, 4 800 unexercised options in the Company, corresponding to 4 800
shares at the strike price of NOK 16.60 and 10 000 unexercised options in
the Company, corresponding to 10 000 shares at the strike price of NOK
21.80. As of today the primary insider holds 26 929 shares in the Company.

After exercising options, Tor Odland holds 8 000 unexercised options in
the Company, corresponding to 8 000 shares at the strike price of NOK
17.80 and 9 000 unexercised options in the Company, corresponding to 9 000
shares at the strike price of NOK 21.80. As of today the primary insider
holds 3 435 shares in the Company.

After exercising options, Malin Rundberg holds 4 018 unexercised options
in the Company, corresponding to 4 018 shares at the strike price of NOK
12.00 and 3 600 unexercised options in the Company, corresponding to 3 600
shares at the strike price of NOK 16.60.

After exercising options, Charles McCathieNevile holds 5 600 unexercised
options in the Company, corresponding to 5 600 shares at the strike price
of NOK 12.00 and 4 800 unexercised options in the Company, corresponding
to 4 800 shares at the strike price of NOK 16.60. As of today the primary
insider holds 5 327 shares in the Company.

After exercising options, Erika Gillemyr holds 4 018 unexercised options
in the Company, corresponding to 4 018 shares at the strike price of NOK
12.00 and 4 800 unexercised options in the Company corresponding to 4 800
shares at the strike price of NOK 16.60.

Petter Lade, Investor Relations

Tel: 47 2369 3444

Opera Software ASA has redefined Web browsing for PCs, mobile phones and other networked devices. Opera's cross-platform Web browser technology is renowned for its performance, standards compliance and small size, while giving users a faster, safer and more dynamic online experience. Opera Software is headquartered in Oslo, Norway, with offices around the world. The company is listed on the Oslo Stock Exchange under the ticker symbol OPERA. Learn more about Opera at http://www.opera.com.