Temporary waiver of the Gearing Ratio of Bond Loan ISIN NO 001053847.3

The reported adjustments undertaken in our 4th

quarter report for 2009, have made it challenging to

meet the Gearing ratio (12 months rolling NIBD /

EBITDA) in the NOK 300 million Bond Loan of the

Company. The reported 4Q 2009 does not represent a

normalized 4th quarter for the Company, since all

adjustments relating to 2009 were accounted for in

the 4th quarter, but primarily relates to other

financial quarters in 2009. Consequently the Gearing

ratio will not reflect the actual operations of the

Company for a normalized 12 months period.

The company has implemented several initiatives,

primarily related to improvement of margins and cash

flow, to meet the agreed covenants in the loan

agreement. These initiatives also include meeting

with key Bond holders to agree temporarily waivers in

our present loan agreement.

The Summons to the Bondholder meeting can be found at

www.stamdata.no. Prior to the summons letter being

distributed, the Company has informed the Bond

Trustee that it has received binding commitments from

2/3 of the Bondholders in the Loan who will support

the Proposal. According to the Bond Agreement, 2/3 is

sufficient to approve a binding resolution.

For further information please contact:

Lars Bakklund, CFO Blom ASA

Tel: +47 911 79 120

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