Mandatory notification of trade

Exercise of employee share options in Opera Software ASA ("the Company"). 1. Participants in the Company’s share options program have on September 1st 2009 exercised a total number of 61,680 options. Following the exercise, 61,680 shares will be transferred from Opera Software’s holding of own shares. Subsequent to the transaction Opera Software ASA holds 513 739 own shares. 2. Options exercised by primary insiders September 1st 2009: Joakim Kashbohm has exercised 5,000 options in the Company, corresponding to 4,000 shares at the strike price of NOK 13.15 and 1,000 shares at the strike price of NOK 15.00. Curt Jacobsen has exercised 16,000 options in the Company, corresponding to 8,000 shares at the strike price of NOK 14.60 and 8,000 shares at the strike price of NOK 15.00. Tomita Tatsuki has exercised 10,000 options in the Company, corresponding to 10,000 shares at the strike price of NOK 14.60. 3. Transfer of rights On September 1st 2009, the primary insiders mentioned below transferred their rights to receive shares resulting from the exercise of options to a third party. The payment has been determined based on a selling price of NOK 21.62 per share. Joakim Kashbohm has transferred 5,000 rights. Curt Jacobsen has transferred 16,000 rights. Tomita Tatsuki has transferred 10,000 rights. 4. New holding After exercising options, Joakim Kashbohm holds 20,000 unexercised options in the Company, corresponding to 16,000 shares at the strike price of NOK 12.75 and 4,000 shares at the strike price of NOK 14.60. After the above transactions, the primary insider holds 1 306 shares in the Company. After exercising options, Curt Jacobsen holds 24,000 unexercised options in the Company, corresponding to 24,000 shares at the strike price of NOK 14.60. After the above transactions, the primary insider holds 139 shares in the Company. After exercising options, Tomita Tatsuki holds 60,000 unexercised options in the Company, corresponding to 30,000 shares at the strike price of NOK 12.00 and 30,000 shares at the strike price of NOK 14.60. After the above transactions, the primary insider holds 36 809 shares in the Company.