Exercise of employee share options in Opera Software ASA

Reference is made to the statement dated March 9th, 2011.

The payment has been determined based on a selling price of NOK 28.0036 per share.

Lars Aarhus purchased 2 165 shares at a price of NOK 28.0036.
Stig Halvorsen purchased 1 000 shares at a price of NOK 28.0036.

After this, 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 29 094 shares in the Company.

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 3 087 shares in the Company.

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.