Otello Corporation ASA

Voluntary cash offer for all shares in Opera Software ASA withdrawn

Oslo and Beijing, 18 July 2016 - Kunqi (the "Offeror")

refers to the voluntary cash offer (the "Offer") for

100% of the shares of Opera Software ASA (the "Opera")

pursuant to an offer document dated 14 March 2016

(the "Offer Document") and announces as follows.

The Offeror and Opera have used their best efforts to

obtain the regulatory approvals required for the

consummation of the Offer, but the condition to the

Offer set out in Section 4.3 c. of the Offer Document

(Consent of Governmental Authority) was not satisfied

as of 15 July 2016 (the "Drop-Dead Date"). As a

condition for entering into the alternative

transaction described below, the Offeror requested

that Opera agree that the Drop-Dead Date should not be

extended. This request was accepted by Opera.

Accordingly, Opera and the Offeror agree that the Drop-

Dead Date should not be extended beyond 15 July 2016.

The Offer has thus lapsed. The Opera shareholders who

have tendered their shares in the Offer are released

from their acceptance of the Offer and all the shares

in Opera that were tendered in the Offer will as of

today 18 July 2016 be free and clear of the blocking

established pursuant to the terms of the Offer.

On 17 July 2016, Opera and Golden Brick Capital

Private Equity Fund I L.P., which is backed by the

affiliates of the partners of the Offeror (Kunlun Tech

Limited, Future Holding L.P., Keeneyes Future Holding

Inc, Qifei International Development Co. Limited and

Golden Brick Capital Private Equity Fund I L.P.

collectively, the "Consortium"), have entered into a

share purchase agreement for an alternative private

transaction, in which the Consortium will acquire

certain parts of Opera's consumer business. Reference

is made to the announcement made by Opera today 18

July 2016.

Arctic Securities AS has acted as financial advisor to

the Offeror and the Consortium in connection with the

transactions.

For further information, please contact:

Malcolm Ko

Tel: +852 2252 8088

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