TeleComputing ASA terminates its evaluation of strategic alternatives

Sabaro Investments Ltd (“Sabaro”) and consolidated companies control 26.8 million shares of TeleComputing ASA (“TeleComputing”), which constitutes approximately 73 % of the issued share capital of TeleComputing. On 13th of October 2008 Sabaro informed the Board of TeleComputing that Sabaro, based on external interest for its shareholding, had the intention to consider strategic alternatives in relation to its shareholding in TeleComputing.

The Board of the Company has since then, and with the assistance of its financial advisors SEB Enskilda and Arctic Securities, evaluated various strategic alternatives on behalf of all its shareholders. Based on this process the Board has concluded that the proposals put forward have not been sufficiently attractive for the Company and all its shareholders. The Board has therefore decided to terminate the process.

The Board would like to emphasize that TeleComputing is on track to reach its Best in Class 2008 goals, has strong profitable growth and a solid balance sheet, and is well positioned to take advantage of market opportunities within IT-on demand and IT solutions.