CHALLENGING QUARTER FOR SIMTRONICS

Simtronics ASA, the Norwegian fire and gas safety company, today posted its first quarter 2009 results. The Company had a double digit sales growth in the quarter while results were hit by non-recurring transaction costs. Even though the steep sales growth seen in the previous quarters has cooled down, Simtronics still posted an 11 per cent sales growth in the first quarter. Sales were NOK 77.1 million, up from NOK 69.7 million in last year’s first quarter. EBITDA came in at NOK -6.8 million. The result for the first quarter was affected by non-recurring costs of NOK 7.2 million related to the proposed acquisition of Technor. The result does however also reflect a more challenging market situation in the first quarter. “We do see that some projects are postponed due to the current economic crisis. Simtronics does however maintain a steady order flow and our order backlog remains strong,” said Simtronics CEO Rune Martini. The proposed acquisition of Technor did not obtain sufficient majority at Simtronics’ Extraordinary General Meeting earlier this month. The acquisition entailed financial resources as well as management attention in the first quarter. Simtronics’ Board of Directors states that it will continue to seek strategic alternatives in order to maximize the value for the shareholders. “Going forward, we see a challenging market in the months ahead. Reduced volumes in new projects will however be partly offset by our growth in Asia and our strengthened position in the maintenance and upgrade markets. We are also currently reorganizing Simtronics in order to reduce costs and become more efficient. Overall we see the potential for renewed growth and improved profitability in the second half of 2009,” said CEO Rune Martini. For further information, please contact Mr. Rune Martini, CEO, Simtronics ASA Phone +47 48 07 80 80 Simtronics ASA (Oslo Stock Exchange: SIMTRO) works to prevent disasters from happening. The company is an international supplier of fire and gas safety systems, active fire fighting solutions and fire prevention systems. Simtronics' flame and gas detectors represent the most accurate, reliable and robust safety technology available. The Company's products, solutions and systems are used by the oil and gas industry as well as in shipping, petrochemical and other process industries and in mining. Simtronics has a well established market base in Europe with Norway, France, UK and Germany as the single most important markets. Simtronics' heritage goes back to 1948.