Opera Software Announces Stock Repurchase Program

Oslo, Norway November 16, 2009. Opera Software ASA announced today that its Board of Directors has decided to continue its buy-back program of up to 6,000,000 shares. The program was previously announced on March 3, 2008 and October 17, 2008. The buy-back program is being carried out in accordance with the authorization to the Board of Directors, as resolved at the General Assembly meeting held on 24 June 2009. Opera will begin buying its shares after the exercise of employee and Board stock options which are eligible for exercise. Under the program, Opera can continue buying shares until the General Assembly meeting in June 2010. Under the buyback program, Opera had purchased 3,000,000 as of November 16, 2009, and Opera currently owns 514 246 shares. Opera has approximately 119.6 million shares outstanding.