PhotoCure - Employee share options exercised

An employee in PhotoCure ASA has exercised share options according to the company's employee incentive program in PhotoCure ASA. The Board of Directors therefore has decided to increase the share capital with NOK 12,500 through the issue of 25,000 shares at NOK 0.50 each. The share capital increase is based on an authorisation granted to the Board of Directors at the Annual General Meeting held on March 20, 2002.

The Articles of Association for PhotoCure ASA are changed following the share capital increase and § 4 is now as follows:

"The share capital of the company amounts to NOK 8,722,500 divided on 17,445,000 shares at NOK 0.50 each, registered by name and fully paid in. All shares in the Company shall be registered with the Norwegian Registry of Securities (VPS)."

Oslo, 11 June 2002.