Q-FREE ASA – SECOND QUARTER AND FIRST HALF-YEAR RESULT 2009

Q-Free had a record high revenue of 185,5 MNOK in the second quarter 2009, implying a growth of 36 % compared to the same quarter last year and 52% compared to previous quarter. Other highlights from the quarterly report:

-Operating profit of 18.6 MNOK - 10% margin -Profit before tax amounted to 22.4 MNOK, - 12.1% margin -Gross margin of 59.7 % -Cash funds of 167.1 MNOK -Order intake of 105.2 MNOK -Order backlog of 936.7 MNOK “This has been a quarter very much coloured by the execution of the awarded projects in Slovakia, Portugal and Thailand. We have made good progress in all projects and achieved a record high revenue in the quarter”, CEO Øyvind Isaksen comments. The market activity has been high during the quarter, and confirms the assumed long-term positive market development. “The global Road User Charging market is in an early stage and we can expect many exiting years to come, - not the least considering the impressive market position we have obtained the last years”, CEO Dr. Øyvind Isaksen concludes. Enclosures: Quarterly report and presentation Trondheim 19th of August 2009

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