Nel ASA — Share Issue/Capital Change 2010

Nov 23, 2010

FINAL RESULT OF THE SUBSEQUENT OFFERING

FINAL RESULT OF THE SUBSEQUENT OFFERING

Reference is made to the stock exchange notice dated 3 November 2010 and

the prospectus dated 2 November 2010 regarding a subsequent offering of

up to 60,000,000 offer shares in DiaGenic ASA ("DiaGenic" or the

"Company"), each with a nominal value of NOK 0.05, at a subscription

price of NOK 0.50 per share with subscription rights for shareholders of

the Company as of 6 October 2010, except shareholders who were allocated

shares in the private placement completed on 6 October 2010.

The subscription period in the subsequent offering in DiaGenic expired

at 17:30 (CET) on 17 November 2010. At the end of the subscription

period, DiaGenic had received subscriptions for a total of 94,406,689

new shares. Consequently, the subsequent offering was oversubscribed by

approximately 57.3 per cent.

Approximately 50.9 per cent of the subscribed new shares (approximately

48.0 million shares) were subscribed by exercising subscription rights.

Approximately 49.1per cent of the subscribed new shares (approximately

46.4 million shares) were subscribed for through oversubscription by

holders of subscription rights or by subscribers without subscription

rights.

In a board meeting 23 November 2010, the Board of Directors of DiaGenic

approved the final allocation of the shares offered in the subsequent

offering based on the allocation criteria set out in the prospectus

dated 2 November 2010. A total of 60,000,000 new shares have been

allocated. Approximately 48.0 million new shares have been allocated to

subscribers on the basis of exercised subscription rights. Approximately

12.0 million new shares have been allocated to holders of subscription

rights on basis of oversubscription. No allocation has been made to

subscribers without subscription rights.

Letters of notification of new shares allocated and the corresponding

subscription amount to be paid by each subscriber are expected to be

distributed on 23 November 2010. Payment for the allocated shares falls

due on 26 November 2010 in accordance with the payment procedures

described in the prospectus.

The new shares may not be transferred or traded before they are fully

paid and the share capital increase pertaining to the subsequent

offering has been registered with the Norwegian Register of Business

Enterprises. It is expected that the share capital increase will be

registered in the Norwegian Register of Business Enterprises on or about

6 December 2010 and that the new shares will be admitted to trading on

the Oslo Stock Exchange on the same day.

Through the subsequent offering, DiaGenic will receive proceeds of NOK

30,000,000 before the deduction of transaction costs. Following

registration of the share capital increase in the Norwegian Register of

Business Enterprises, the Company's share capital will be NOK 13,511,826

divided into 270,236,520 shares, each with a nominal value of NOK 0.05.

DnB NOR Markets acted as manager in the subsequent offering.

Contact:

Erik Christensen, CEO

Telephone: 47 95939918

e-mail: erik.christensen@diagenic.com