Total consideration for 100% of the shares in ETech Process AS has been renegotiated following completion of the due diligence process. Total consideration is now agreed at maximum NOK 30 million.

NOK 10 million will be a cash settlement on closing, while up to NOK 20 million, pending ETech Process' financial performance over the next three years, will be settled in cash or Simtronics shares (by Simtronics' choice) in 2011. A potential share settlement will be based on Simtronics' last traded share price on the day of closing, 29 February 2008.

The consideration originally agreed was a total of NOK 44.8 million.

Simtronics has during the last two weeks finalised two acquisitions; Fire Eater A/S and ETech Process AS. The acquisitions will double Simtronics revenue going forward and significantly improve the Company's market position.

For further information please contact:

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 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.