New CEOs appointed in Eltek ASA and Eltek Valere

Jørgen Larsen has been appointed new CEO of Eltek ASA and Colin Howe new CEO of

Eltek Valere, following the resignation of Rune Finne earlier in September. The

appointments take effect from 1 October, 2010.

Jørgen Larsen (60) currently holds the position as EVP Business Development, and

has earlier been CFO and also acting CEO of Eltek ASA. Mr Larsen has been with

Eltek since 1995.

Colin Howe (47) is currently EVP Global Sales in Eltek Valere, with

responsibility for the telecom power division which is the largest business area

in the company. He has over the years held a number of leading positions in

Eltek Valere, including President of the Americas Region, President of the

European Region and Managing Director of Eltek UK. Mr Howe joined Eltek UK as an

Applications Engineer in 1989.

"Eltek faces important choices with regards to the strategic development of the

company. Jørgen Larsen has extensive experience from both the financial and

operational side of our business, and has also earlier shown that he can provide

the leadership needed to push this development forward. Colin Howe has been with

the company for more than 20 years and been instrumental in the development of

Eltek Valere into one of the world's leading suppliers of power solutions," says

William H. Crown, Chairman of the Board in Eltek ASA.

For more information, please contact:

William H. Crown, Chairman of the Board of Eltek ASA, tel: + 1 312 543 1739

Jørgen Larsen, CEO of Eltek ASA, tel: +47 905 27 930

About Eltek:

Eltek is a strategic technology partner within power solutions and microwave

radio transmission, through its three business units Eltek Valere, Nera Networks

and Nera Telecommunications. The company reported revenue of NOK 5.8 billion in

2009, and had close to 3,330 employees in more than 50 countries at the end of

the year. Eltek is listed on Oslo Stock Exchange and headquartered in Drammen,

Norway.

Eltek Valere is a technology leader developing and marketing high-efficiency

(HE) power solutions for telecom and industrial applications. The company also

has a growing business activity towards renewable markets, such as photovoltaic

grid inverters and chargers for electric vehicles. Headquartered in Drammen,

Norway, the company's global operations counts approximately 2,000 employees,

and generated revenue of NOK 3.1 billion in 2009.

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

(Norwegian Securities Trading Act)

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