Q-FREE - ANNUAL RESULT 2009

The Board of Directors of Q-Free ASA has today approved the Directors Report and the Audited Accounts for 2009. The Annual Accounts are based on IFRS and will be presented for final approval at the Annual General Meeting scheduled to be held 20th of May 2010.

The Group’s Annual Accounts includes no material changes in the Audited Accounts compared to the preliminary results for 2009, presented in the fourth quarter report. The Board of Directors proposes to the Annual General Meeting that there will be no distribution of dividends for the accounting year of 2009. The Annual Report 2009, including the approved accounts will be distributed to the shareholders with the notice for the Annual General Meeting. Trondheim 23.03.2010