Otello Corporation ASA

Board approval of the 2017 annual financial statements

The Board of Directors of Otello Corporation ASA has approved the

consolidated financial statements, the parent company's financial statements and

the Board of Directors' report for 2017.

There is no material change in Total comprehensive income (loss), Net cash flow

from Operating activities, Operating profit (loss) and Adjusted EBITDA compared

with the Q4 2017 report released on February 28, 2018.

However, in the Consolidated statement of comprehensive income, Profit (loss)

from Continued operations has been decreased by USD 15.1 million, due

principally to a reclassification from Foreign currency translation differences

to Net financial income (expense), based on the recalculation from functional to

presentation currency. Earnings per share (continuing operations) are reduced

from -0.36 to -0.46 USD per share.

The Board will propose to the Annual General Meeting, to be held on June 5,

2018, that no dividend for 2017 be paid out.

Petter Lade, CFO

Phone: +47 91143878

About Otello: Otello holds shares in several different businesses, including

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; Apps

and Games (Bemobi); "Performance & Privacy" (Skyfire);and Connected TV (Vewd).

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