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TAG FRAME AGREEMENT IN BRAZIL – POTENTIAL OF 100 MNOK

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Q-Free has been awarded a frame agreement for delivering On Board Units (OBUs) to Centro Gestao Meios de Pagto (CGMP) in Brazil valued at 100 MNOK. Guaranteed order intake from this agreement will be 40 MNOK. CGMP is the largest tag distributor in Brazil and has been an established customer of Q-Free since 1999.

Tag deliveries are an important part of the company’s underlying revenues, and as such Brazil represents an important market for us. We are pleased to reconfirm our position in this important market, CEO Øyvind Isaksen comments. Q-Free has a fully owned subsidiary in São Paulo, Brazil. The frame agreement is expected to be delivered within 2011. Trondheim 22nd of June 2009.

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Q-Free CGMP Q-Free order in Brazil

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