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.

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.