3Q 2010 Financial Results NERATEL, Singapore

NeraTel achieved revenue in the third quarter of SGD 36.3 million, compared to

SGD 33.0 million in the corresponding quarter last year. EBIT for the quarter

was SGD 2.1 million compared to SGD 1.7 million in the third quarter 2009. Net

profit was 1.5 million compared to SGD 1.5 million in the third quarter 2009.

Please note that due to different accounting principles Eltek will report

different figures for NeraTel in its Group results, the main difference being

amortization of intangible assets identified as part of the Purchase Price

Allocation (PPA), and different treatment of currency effects.

For further information, please contact:

CFO Eltek ASA, Pål Skistad, tel: +47 32 20 32 34

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.

Nera Telecommunications offers radio transmission, satellite communications and

infocomm equipment and services to the Asian markets. Headquartered in

Singapore, NeraTel is 50.1 percent owned by Eltek ASA and separately listed on

the Singapore Stock Exchange. The company counts approximately 475 employees and

reported revenue of close to NOK 800 million in 2009.

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

(Norwegian Securities Trading Act)

[HUG#1451600]

AI assistant