Q-FREE –SKYTOLL SETTLEMENT AGREEMENT SIGNED

As previously announced (28th of May 2010 and 19th of October 2010), SkyToll a.s and Q-Free ASA have been in a dialogue regarding changes of the contract signed 23rd of January 2009.

The parties have today signed the Settlement agreement implying that Q-Free will receive payment of approximately 100 MNOK, and SkyToll will in return receive the rights to operate the source code for the back office system delivered by Q-Free in Slovakia. The outstanding amount will be received in three instalments; - 10 MNOK at signing, 70 MNOK late April and final payment of 20 MNOK late June. The net cash effect will be approximately 85 MNOK after all instalments have been received and obligations towards subcontractors settled.

This settlement is according to what has been the basis for the numbers reported per Q4 2010.

Trondheim 30th. March 2011

For further information, please contact:

CEO Øyvind Isaksen, cell: 47 905 59 401

CFO Roar Østbø, cell: 47 932 45 175

About Q-Free

Q-Free is a leading global supplier of solutions and products for Road User Charging and Traffic Surveillance having applications mainly within electronic toll collection for road financing, congestion charging, truck-tolling, law enforcement and parking/access control. Q-Free offers solutions and products based on state of the art technology, and is the leading supplier within DSRC (tag) - and ALPR (Automatic License Plate Registration) and GNSS (Global Navigation Satellite System) based solutions, with deliveries in Europe, Asia-Pacific, Middle East and North- and South America. The company has appr. 280 employees in 11 locations and representatives in 7 other countries. Headquarter is based in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR. http://www.q-free.com