APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER (CFO) IN Q-FREE ASA

Roar Østbø (47) is employed as CFO in Q-Free ASA. Østbø comes from the same position in Aqualyng Group and has previously held the CFO position in the publicly listed companies Q-Free ASA and CorrOcean ASA, and in the oil service company Reslab AS and Sintef. Mr Østbø is a Certified Public Accountant from the Norwegian School of Economics and Business Administration (1988) and has also worked as auditor in Arthur Andersen & Co.

-We are very pleased to have Roar Østbø back as CFO. His broad experience from international technology companies, and not the least his former experience from Q-Free will be an important contribution to the company’s further development, CEO in Q-Free Øyvind Isaksen comments.

Østbø will start latest 1st of June 2009. Østbø has 6.000 shares in Q-Free ASA.

Trondheim 30. mars 2009.

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