Q-FREE ASA – FRAME AGREEMENT  IN SPAIN – 29 MNOK

Q-Free has been awarded a frame agreement for deliveries of tags from the Spanish operator Abertis at a value of 29 MNOK. The guaranteed volume is 12 MNOK.

- It is very important for Q-Free to be present in the promising Spanish tolling market since it is expected that major tolling investments will materialize in the years to come. Furthermore Abertis is an important operator in the global Road User Charging market and represents significant opportunities for the company going forward, CEO in Q-Free Øyvind Isaksen comments.

The frame agreement is expected to be delivered within two years.

Trondheim 1st of March 2012

For further information, please contact:

CEO Øyvind Isaksen, cell: +47 908 76 398

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), ALPR (Automatic License Plate Registration) and GNSS (Global Navigation Satellite System) based solutions, with deliveries in Europe, Africa, Asia-Pacific, Middle East and North- and South America. The company has approximately 270 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

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