On 5 February 2007, the Simtronics ASA board of directors approved the issue of 14.285.000 million new shares at a subscription price of NOK 2, 10 per share raising gross proceeds of NOK 30 million. The proceeds will be used for strengthening company's balance sheet and supporting continued growth.  

The public offering was managed by Orion Securities and the company is pleased to see that the issue was substantially oversubscribed, by 5.5 times.  

Allotment will be communicated to subscribers on or about 6 February 2007. Shares allotted are expected to be transferred to applicants' individual VPS accounts on or about 12 February 2007, subject to the deduction of payment from their bank accounts on or about 8 February 2007. The shares allocated to the Subscribers will be tradable from the date they are delivered.   

For further information, please contact:

Rune Martini, CEO SIMTRONICS ASA
Phone +47 48 07 80 80
Pål Selboe Valseth - CFO - +47 91 70 02 70