SIMRAD OPTRONICS ASA - INCREASED CREDIT FACILITIES

Simrad Optronics ASA has entered into an agreement with Nordea Bank Norge ASA to increase its credit facilities.

Simrad Optronics ASA has entered into an agreement with Nordea Bank Norge ASA to increase its credit facilities. The current multicurrency loan facility of MNOK 50 is increased with MNOK 20 to MNOK 70. The covenant structure is agreed on the same terms as the current facility. As announced in connection with the Q1-09 presentation Simrad Optronics ASA is endeavouring for an optimal mix of working capital items. Through a combination of cash generating efforts (e.g. reduced level of inventories) and increased credit facilities the company is expecting a strengthened cash position supporting the continued growth of Simrad Optronics ASA in the years to come. Margins and other fees reflects Simrad Optronics ASA's good credit standing and the strong commitment from Nordea Bank Norge ASA to the company. The funds will be made available after the completion of legal formalities between the bank and the company. For further information, please contact Mr. Jon Asbjørn Bø, president and CEO, phone (+47) 930 86 932, e-mail jab@simrad-optronics.no. Homepage: www.simrad-optronics.no