Nel ASA

Share Issue/Capital Change • Nov 3, 2010

Approved prospectus and commencement of subscription period for subsequent repair offering

Approved prospectus and commencement of subscription period for

subsequent repair offering

Reference is made to the stock exchange notice dated 7 October 2010

regarding successful private placement in DiaGenic ASA ("DiaGenic" or

the "Company"), and the stock exchange notice dated 29 October 2010

regarding  the resolution to approve the private placement and the

subsequent repair offering by the Company's extraordinary general

meeting held on 29 October 2010.

The prospectus for the listing of 140,000,000 placement shares resolved

issued in the private placement and up to 60,000,000 offer shares to be

issued in connection with the subsequent repair offering was approved by

the Financial Supervisory Authority of Norway on 2 November 2010 and

made public on 3 November 2010. Please refer to the prospectus for

further information on the subsequent repair offering. The prospectus is

available electronically at www.diagenic.com (http://www.diagenic.com/),

and www.dnbnor.no/emisjoner (http://www.dnbnor.no/emisjoner). The

prospectus is also available free of charge at the business offices of

DiaGenic ASA and DnB NOR Markets by request.

The subscription period for the subsequent repair offering commences

today, 3 November at 09:00 (CET), and expires at 17:30 (CET) on 17

November 2010.

The subscription price in the subsequent repair offering is NOK 0.50

per share.

The Company's shareholders as of 6 October 2010, with the exception of

shareholders allocated shares in the private placement resolved by the

Company's extraordinary general meeting on 29 October 2010, will receive

1.06880 transferable subscription rights for each existing share in the

Company as of 6 October 2010. The number of subscription rights to be

issued to each shareholder will be rounded down to the nearest whole

subscription right. Each subscription right entitles the holder thereof

to subscribe for one new share in the subsequent repair offering. The

subscription rights are tradable and will be listed on Oslo Børs during

the subscription period under ticker "DIAG S".

Oversubscription and subscription of shares without subscription rights

is permitted. Subscription Rights not used to subscribe for shares

before the expiry of the subscription period will lapse without

compensation to the holder, and consequently be of no value. For

shareholders in jurisdictions where the offer under the subsequent

repair offering is not permitted, the subscription rights may, upon

instruction from the Company, be sold by the manager on behalf of such

shareholders and the cash consideration will be transferred to such

shareholder's account, net of costs and expenses, if they have a value

exceeding the costs involved in selling the subscription rights.

Upon completion of the subsequent repair offering, the share capital of

the Company will be increased by up to NOK 3,000,000 through issue of up

to 60,000,000 new shares, each with a nominal value of NOK 0.05.

The expected time table for the subsequent offering is as follows:

3 November 2010: Commencement of subscription period and listing of

subscription rights on Oslo Børs

17 November 2010: End of subscription period at 17:30 (CET)

On or about 23 November 2010: Allocation, distribution of allocation

letters and announcement of the final result of the subsequent offering

26 November 2010: Payment date for the allocated offer shares

On or about 6 December 2010: Registration of share capital increase in

the Norwegian Register for Business Enterprises and first day of trading

of the new shares on Oslo Børs.

DnB NOR Markets has acted as manager in the private placement and the

subsequent repair offering.

For further information, please contact:

Erik Christensen (CEO), telephone +47 2324 8950

This information is subject of disclosure requirement according to

section 5-12 of the Norwegian Securities Trading Act.