EXERCISE OF OPTION - ISSUE OF NEW SHARES

Oslo, Norway - March 6th, 2008 - Employees of Opera Software ASA have exercised options to subscribe for 32,526 shares at a nominal value of NOK 0.02 and a subscription price of NOK 12.40, (32,526 options).

As a result of the exercise, the Board of Directors has resolved to issue a total of 32,526 new shares. When the share capital increase has been registered with the Register of Business Enterprises, Opera`s share capital will be NOK 2,391,495.64 divided into 119,574,782 shares, each with a nominal value of NOK 0.02. The following primary insiders exercised options on
March 5th, 2008:

Lars Erik Bolstad, VP Core Technology, has exercised 24,000 options in the Company, corresponding to 24,000 shares at a strike price of NOK 12.40.

Transfer of rights

On March 5th, 2008, the primary insiders mentioned below transferred their rights to receive shares resulting from the exercise of options to a third party. The transaction was done on borrowed shares.

Lars Erik Bolstad, VP Core technology, transferred 24,000 rights.

The payment has been determined based on a selling price of NOK 13.6349 per share.

New holding

After exercising options, Lars Erik Bolstad holds 163,500 unexercised options in the Company.