TTS - completes placement of MNOK 200 convertible bond

TTS has successfully completed the placement of a MNOK 200 convertible bond as

announced on December 14.

The subordinated convertible bonds will have a coupon of 8.00% payable quarterly

in arrears and a conversion premium of 22.5% over the volume weighted average

price of the shares traded on Oslo Stock Exchange during the 5 day period

leading up to and including 14 December 2010, which was NOK 7.5787.

The convertible bonds will be issued and redeemed at 100% of their principal

amount and will, unless previously redeemed, converted or purchased and

cancelled, mature in January 2016. The bonds are expected to be issued on or

around January 18, 2011, subject to shareholders resolutions and other condition

precedent as outlined in the term sheet.

Link: Term sheet

Link: Company presentation

Bergen 16 December 2010

Contact persons:

Johannes D. Neteland

President & CEO

Tel +47 918 46 906

Arild Apelthun

CFO

Tel +47 918 19 265

TTS Group ASA

Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01

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

(Norwegian Securities Trading Act)

[HUG#1473078]

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