INTENTION TO MAKE A VOLUNTARY OFFER FOR ALL TELECOMPUTING ASA SHARES

Seco Invest AS has informed the Board of Directors of TeleComputing ASA (“TCO” or the “Company”) that, subject to certain conditions, it intends to make a voluntary offer for all outstanding shares in TCO (the “Offer”). Sabaro Investments Limited (“Sabaro”) and Ferd Capital, a part of Ferd AS, will, subject to a conditional agreement entered into between the two parties and a successful Offer, become the indirect joint majority owners of Seco Invest AS. In addition, Sabaro and Ferd AS have entered into a conditional agreement with Nobelsystem Scandinavia AS and Max Bjerke AS, and assuming the conditions are met and a successful Offer, Nobelsystem Scandinavia AS and Max Bjerke AS will become minority shareholders in Seco Invest AS. Through the acquisition Seco Invest AS will aim at further developing the Company in an unlisted setting by having few and active owners who can contribute with their resources, knowledge and capital The offer will be made to all existing shareholders of TCO at a price of NOK 18.15 per share. The offer price represents a premium of 17% above the last traded price on Oslo Børs and 21% above the volume weighted average price over the last three months. The Offer will be conditional upon, among other things, that Seco Invest AS receives acceptances for at least 90% of the shares outstanding in TCO, and other customary conditions. Upon the successful completion of the Offer, Seco Invest AS will apply for a de-listing of TCO from Oslo Børs. On Sunday 15 November 2009, Ferd Capital completed a satisfactory confirmatory due diligence of TCO, and hence there will be no due diligence condition in the Offer. A complete description of the terms and conditions of the Offer will be presented in an offer document that will be published as soon as the offer document has been approved by Oslo Børs. Sabaro currently controls 27,976,261 shares in TCO, equal to 75.7 % of the share capital, Nobelsystem Scandinavia AS currently holds 4,218,000 shares, equal to 11.4 % of the share capital and Max Bjerke AS currently holds 500,000 shares, equal to 1.4 % of the share capital, making a total of 32,694,261 shares, or 88.4 % of the outstanding shares. Ferd AS currently does not hold any shares in TCO. The arrangements between Sabaro, Ferd AS, Nobelsystem Scandinavia AS, Max Bjerke AS and Seco Invest AS are based on a value corresponding to NOK 18.15 per TCO share. In addition, Seco Invest AS has received irrevocable undertakings to accept the offer from shareholders representing in total 347,569 shares and 0.94 % in TCO, including the CEO Sven Tore Kaasa and board member Morten Garman. Hence, including the irrevocable undertakings and subject to the conditional agreement, Seco Invest will control 89.4% of the outstanding shares in TCO before the offer is launched. SEB Enskilda AS acts as financial advisor to Seco Invest AS in the Offer.