Warrants

Reference is made to announcement from Nio Security,

Inc. on November 19, 2009 regarding the refinancing

of Nio Security, Inc. where up to 1,800,000 warrants

to purchase shares at NOK 2.50 per share with expiry

on December 31, 2012 was granted and held in escrow

for future allocation upon resolution by the board of

directors. On February 17, 2010, the board of

directors of Nio resolved to allocate these warrants

as follows:

Espen Brodin, chairman & CEO and primary insider of

Nio, has been allocated 600,000 warrants. After this

transaction, Espen Brodin holds 0 shares and 600,000

warrants. Bawa AS, a company owned by close

associates of Bjarne Støtvig jr., board member and

primary insider of Nio, has been allocated 600,000

warrants After this transaction, close associates of

Bjarne Støtvig jr. will hold 680,829 shares and

600,000 warrants. Tore Formo, CFO and primary insider

of Nio, has been allocated 600,000 warrants. After

this transaction, Tore Formo will hold 653,415

shares, 10,834 options and 600,000 warrants, and

close associates of Tore Formo 320,372 shares.

For further information contact Espen Brodin,

Chairman & CEO, +47 920 44 558.

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