Arribatec Group ASA — Earnings Release 2010

Aug 18, 2010

Successful launch of portfolio account in a changing market

Acta's main focus in the second quarter of 2010 has been the launch of a

portfolio account. Second quarter gross subscriptions totalled NOK 841 million.

Gross subscriptions per advisor ended at NOK 5 million in the quarter. The asset

classes with the highest demand in the quarter were, as the previous quarter,

Mutual funds and Unit linked. Reported operating earnings in the second quarter

are NOK 3 million. Net income in the quarter totalled NOK 5 million, which

translates to an EPS of NOK 0.02.

Market uncertainty

The financial markets around the world have also been marked by a great deal of

uncertainty in the second quarter of 2010. The crisis that emerged in the

economic and monetary union of the European Union, as it became clear that a

collapse in the Greek economy was impending, contributed to an increase in this

uncertainty. This uncertainty has affected subscription volumes in the quarter,

yet Acta reports increased subscription volumes, improved margins and an

increase in operating earnings when compared with the first quarter of 2010.

A changing industry

Changes in the industry are more radical than we first projected. Signals from

the regulatory authorities earlier this summer regarding remuneration of

financial advisors and the method by which clients should be charged for

financial advice, highlight the radical nature of such changes. Acta has been a

front runner, and has already made significant changes to both the way advisors

are paid and how clients pay for services provided by the Group. A more neutral

wage payment system was implemented last year, and an alternative and neutral

fee structure has been developed since the summer of 2009.

Portfolio account

Acta launched a portfolio account for its Norwegian clients on 15 June, and

clients were given the opportunity to choose a neutral alternative to the

traditional transaction-related fee structure. By choosing the portfolio

account, clients will be given the opportunity to pay lower, or no, transaction

fees and receive credit amounts from suppliers, through an annual management fee

based on their equity under management with Acta. We believe that such a fee

structure is in line with client demands and what the regulatory authorities

would like the industry to implement. By launching a portfolio account, Acta can

now call itself a neutral and independent supplier of financial advisory

services.  As of mid August, Acta's Norwegian clients have placed approximately

NOK 2.5 billion in the portfolio account, and the organisation will continue to

focus on informing clients about this concept. Acta's Swedish clients will be

given the opportunity to choose a portfolio account from 1 September. "Our

advisors have spent a great deal of time calling clients and informing them

about this neutral fee structure, and we are happy to say that clients have

welcomed this initiative from Acta. By increasing our recurring revenues, we

will strengthen Acta's financial position," says CEO Geir Inge Solberg.

Acta going forward

We remain committed to the strategy that was decided upon last summer, but some

adjustments will be implemented based on this summer's strategic discussions.

Acta continues to be a first class supplier of financial advisory services, but

will also offer brokerage services and corporate finance services in order to be

a more complete supplier of financial services. Acta has broadened its services

and is working towards becoming a leading Nordic financial services group.

Financial highlights in 2nd quarter 2010

* Gross subscriptions of NOK 841 million, compared with NOK 703 million in the

same period in 2009.

* Total revenues of NOK 115 million, compared with NOK 132 million in the

corresponding quarter of 2009.

* Recurring revenues of NOK 67 million, with a fixed costs ratio of 91%.

* Total operating cost including depreciation of NOK 112 million, compared with

NOK 166 million in the corres-ponding quarter of 2009.

* Positive operating earnings of NOK 3 million, compared with a NOK -34 in the

same period of 2009.

* Asset under management of NOK 68 billion, compared with NOK 71 billion in the

previous quarter.

* The Group has a robust financial position and has a net liquidity position of

more than NOK 220 million and no interest-bearing debt.

A complete English version of the interim report and the presentation of the

2nd quarter and 1st half of  2010 are attached on  www.newsweb.no and on Acta's

Investor Relations web pages www.acta.no.

Contact details:

Geir Inge Solberg, Chief Executive Officer, +47  908 78 043

Christian Tunge, Chief Financial Officer, +47 450 65 850

Rune Wangsmo, Public Relations Director, +47 995 41 507

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1438542]