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INCREASE IN SHARE CAPITAL – Q-FREE ASA

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The Board of Directors of Q-Free ASA approved in a board meeting 7. May 2009 to increase the share capital with NOK 332,500. The increase in share capital is carried out according to proxy by issuance of 875,000 new shares at a par value of NOK 0.38. The share capital will increase from
NOK 20,510,960.94 to NOK 20,843,460.94 when the share capital increase has been registered in Foretaksregisteret (Norwegian Company Registry).

The increase in share capital is approved in relation with an exercise of shareoptions issued by the Company to key employees and shareholder elected members of the Board.

A new press release will be sent out when the share capital increase has been registered in Foretaksregisteret.

Trondheim 7 May 2009.

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Share capital changes Q-Free

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