PhotoCure - Employee share options exercised

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 8,642,500 divided on 17,285,000 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, 6 November 2001