FINAL SETTLEMENT OF THE FIRE EATER AS ACQUISITION

As previously announced Simtronics entered into an agreement with Fire Eater Holding A/S in January 2008 to acquire 51 % of the shares in Fire Eater A/S for a total purchase price of DKK 56,100,000.

It was agreed that DKK 37,400,000 should be settled in cash on closing in February. The remaining amount of DKK 18,700,000 should be converted to shares in Simtronics after announcement of the company's interim financial report for Q 2 2008 at a subscription price per share corresponding to the average closing price of the Simtronics shares on the Oslo Stock Exchange three days prior to and three days following this announcement.

The subscription price has been set at NOK 4.6759 per share and the board of directors of Simtronics has resolved to issue 4,303,370 new shares to Fire Eater Holding A/S at a subscription price of NOK 4.6759 per share to be set off against the outstanding amount of the purchase price, based on the authorization to issue new shares granted to the board of directors at the annual general meeting on 14 May 2008.

The company will, after registration of the share capital increase in the Norwegian Register of Business Enterprises, have a share capital of NOK 9,508,788.56 divided on 65,058,124 shares each with a par value of NOK 0.146158358.

Homepage: www.simtronics.eu