Q-FREE: EXPORT CREDIT NORWAY FINANCING IN PLACE FOR JAKARTA CONTRACT

Q-Free has been informed that a loan agreement has been signed between Export Credit Norway and PT Rin Indonesia Jaya, a subsidiary of PT Inovisi Infracom Tbk, for part financing of the previously announced Electronic Law Enforcement (ELE) project of approximately NOK 1 billion in Jakarta in Indonesia. As part of the financing agreement, PT Inovisi Infracom Tbk has signed a parent company guarantee for the loan.

The loan will be released upon initial payment of USD 6 million to Q-Free, which will also mark the start-up of the project.

The loan from Export Credit Norway is the majority of the external financing of the project and as such represents a very important milestone in the progress towards a start-up of the project.

Under the contract, Q-Free will deliver roadside infrastructure and tags over a two years period, and service and maintenance over a five year period. The Electronic Law Enforcement (ELE) system will be based on Q-Free's unique tolling solutions and will be used by the Indonesian Police for traffic monitoring in the capital Jakarta (DKI) and surrounding areas (Bodetabek).

For further information, please contact:

CEO: Øyvind Isaksen      +47 908 76 398

CFO: Roar Østbø            +47 932 45 175

Q-Free is a leading global supplier of products and solutions for Road User Charging and Advanced Transportation Management. The company has approximately 280 employees and is represented in 17 countries. Headquarter is based in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR.

www.q-free.com

Twitter@QFreeASA

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