Exercise of employee share options in Opera Software ASA

1. Participants in the Company's share option program have on May 21st

2010 exercised a total number of 203 049 options. Following the

exercise, 203 049 shares will be transferred from Opera Software's

holding of own shares. Subsequent to the transaction Opera Software ASA

holds 610 620 own shares.

2. Options exercised by primary insiders May 21st 2010:

Johan Borg has exercised 16 000 options in the Company, corresponding to

16 000 shares at the strike price of NOK 14.60 and 7 175 options in the

Company, corresponding to 7 175 shares at the strike price of NOK 12.00.

Charles McCathieNevile has exercised 305 options in the Company,

corresponding to 305 shares at the strike price of NOK 12.00.

3. Transfer of rights

On May 21st 2010, the primary insiders mentioned below transferred their

rights to receive shares resulting from the exercise of options to a

third party. The sales amount will be determined on the basis of the

price obtained by the third party when selling the shares in the market.

Still, primary insiders cannot be held liable for losses incurred by the

third party if the shares are later sold below the strike price. Final

compensation for the transferred rights will be reported to Oslo Børs

when known.

Johan Borg has transferred 23 175 rights

4. New holding

After exercising options, Johan Borg holds 10 045 unexercised options in

the Company, corresponding to 10 045 shares at the strike price of NOK

12.00, 48 000 unexercised options in the Company, corresponding to 48

000 shares at the strike price of NOK 14.60 and 20 000 unexercised

options in the Company, corresponding to 20 000 shares at the strike

price of NOK 16.60.

After exercising options, Charles McCathieNevile holds 9 027 unexercised

options in the Company, corresponding to 9 027 shares at the strike

price of NOK 12.00 and 5 700 unexercised options in the Company,

corresponding to 5 700 shares at the strike price of NOK 16.60. As of

today the primary insider holds 2 730 shares in the Company.

Petter Lade, Investor Relations

Tel: +47 2416 4444

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