Otello Corporation ASA

Board/Management Information • Feb 10, 2016

Primary Insider Notification

Primary Insider Notification

Reference is made to the announcement today concerning the recommended voluntary

offer (the "Offer") for all shares of Opera Software ASA (the "Company") of NOK

71 per share, to be made by Golden Brick Silk Road (Shenzhen) Equity Investment

Fund II LLP.

As follows from the announcement, all board members holding shares in the

Company and certain management members have, on certain terms and conditions,

undertaken to pre-accept the Offer. This includes

Chairman of the Board Sverre Munck, 25 000 shares

Board Member Marianne Heien Blystad, 100 000 shares

Board Member Audun Wickstrand Iversen, 25 000 shares

Board member (employee representative) Malin Rundberg, 2 000 shares

Board member (employee representative) Erik Möller, 812 shares

Board member (employee representative) Christian Uribe, 248 shares

CEO Lars Boilesen, 23 735 shares

CFO Erik C. Harrell, 103 489 shares

CCO Andreas Thome, 12 339 shares

Upon and subject to completion of the Offer, the directors and officers will not

hold any shares in the Company.  Christian Uribe holds 25,000 options in the

Company. Lars Boilesen holds 168,000 employee restricted share units (RSUs) and

300 000 options in the Company.  Erik C. Harrell holds 35,000 RSUs and 612,500

options in the Company.  Andreas Thome holds 35,000 RSUs and 520,000 options in

the Company.

The information herein is subject to disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

Petter Lade, Investor Relations

Tel: +47 2369 2400

About Opera Software ASA

Opera enables more than 350 million internet consumers worldwide to connect with

the content and services that matter most to them. Opera also 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 1 billion.