Nekkar — Capital/Financing Update 2011

Jan 10, 2011

TTS - Extraordinary general meeting held - approval of issue of subordinated convertible bond loan of MNOK 200

The Extraordinary general meeting of TTS Group ASA was held today, Monday 10

January.

A total of 36 681 406  shares amounting to 49,2 percent of the

share capital was represented in the meeting. All proposals were unanimous

resolved.

The bond holder meeting today approved amended terms which fulfills the

conditions set out in resolution 8 a. An agreement has been made with Nordea

Bank ASA and Sparebanken Vest which fulfills the conditions set out in

resolution 8 b.

Please find enclosed minutes from extraordinary general meeting.

Bergen 10 January 2011

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)

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