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EXERCISE OF SHAREOPTIONS IN Q-FREE ASA

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In connection with the expiration of the share option program in the Company, the following primary insider of Q-Free has subscribed for and sold the following numbers of shares in Q-Free at the following conditions on 7 May 2009:

Anders Hagen, employee elected member of the board, subscribed for 15,000 shares at a price of NOK 9.73, and has sold 15,000 shares at a price of NOK 15.80. New shareholding after the transaction is 0.

Trondheim 7. May 2009.

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