Otello Corporation ASA

Registration of share capital reduction

Reference is made to the resolution by the annual general meeting on 4 June 2019

where a resolution was passed to reduce the Company's share capital by

cancellation of treasury shares. The share capital reduction has now been

registered with the Norwegian Register of Business Enterprises, and the new

registered share capital of the Company is NOK 2 769 548,58 and the total share

count is 138 477 429.

Petter Lade, CFO

Phone: +47 91143878

About Otello:

Otello holds shares in several different businesses, including (i) AdColony

which helps publishers monetize their content through advertising and

advertisers reach the audiences that build value for their businesses,

capitalizing on a global consumer audience reach that exceeds 2 billion;

(ii) Bemobi, a Mobile Media and Entertainment company which integrate people and

mobile content through technology and offers a leading subscription-based

discovery service for mobile apps in Latin America and beyond; (iii) Skyfire

which offers cloud-based network solutions for mobile operators and (iv)

Vewd which offers OTT services in the Connected TV space.

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