Otello Corporation ASA — Director's Dealing 2010

Aug 30, 2010

Exercise of employee share options in Opera Software ASA

Exercise of employee share options in Opera Software ASA

1. Participants in the Company's share option program have on August

27th 2010 exercised a total number of 414 712 options. Following the

exercise, 414 712 shares will be transferred from Opera Software's

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

holds 195 908 own shares.

2. Options exercised by primary insiders August 27th 2010:

Joakim Kasbohm has exercised 1 000 options in the Company, corresponding

to 1 000 shares at the strike price of NOK 14.60.

Kari Stautland has exercised 12 500 options in the Company,

corresponding to 12 500 shares at the strike price of NOK 14.00.

Frode Hernes has exercised 30 000 options in the Company, corresponding

to 30 000 shares at the strike price of NOK 12.00 and 4 000 options in

Company, corresponding to 4 000 shares at the strike price of NOK 16.60.

Jason Hoida has exercised 2 000 options in the Company, corresponding to

2 000 shares at the strike price of NOK 16.30.

Stig Halvorsen has exercised 7 175 options in the Company, corresponding

to 7 175 shares at the strike price of NOK 12.00 and 2 000 options in

Company, corresponding to 2 000 shares at the strike price of NOK 16.60.

Johan Borg has exercised 20 000 options in the Company, corresponding to

20 000 shares at the strike price of NOK 14.60 and 4 000 options in

Company, corresponding to 4 000 shares at the strike price of NOK 16.60.

Charles McCathieNevile has exercised 1 500 options in the Company,

corresponding to 1 500 shares at the strike price of NOK 12.00 and 500

options in Company, corresponding to 500 shares at the strike price of

NOK 16.60.

Håkon Wium Lie has exercised 25 000 options in the Company,

corresponding to 25 000 shares at the strike price of NOK 12.00.

Nuno Sitima has exercised 11 250 options in the Company, corresponding

to 11 250 shares at the strike price of NOK 12.00.

Erika Gillemyr, a related party to Rikard Gillemyr, has exercised 1 200

options in the Company, corresponding to 1 200 shares at the strike

price of NOK 16.60.

3. Transfer of rights

On August 27th 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 finally determined on the basis

of the price subsequently 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.

Joakim Kasbohm has transferred 1 000 rights

Kari Stautland has transferred 12 500 rights

Frode Hernes has transferred 34 000 rights

Jason Hoida has transferred 2 000 rights

Stig Halvorsen has transferred 9 175 rights

Johan Borg has transferred 24 000 rights

Charles McCathieNevile has transferred 2 000 rights

Håkon Wium Lie has transferred 25 000 rights

Nuno Sitima has transferred 11 250 rights

4. Purchase of shares

On August 27th 2010, the primary insiders mentioned below entered into

an agreement to use part or all of the compensation mentioned in item 3

to purchase shares. When known, the final number of shares, along with

the compensation, will be reported to Oslo Børs.

Charles McCathieNevile

Stig Halvosen

Jason Hoida

5. New holding

After exercising options, Joakim Kasbohm holds 3 000 unexercised options

in the Company, corresponding to 3 000 shares at the strike price of NOK

14.60, 16 000 unexercised options in the Company, corresponding to 16

000 shares at the strike price of NOK 12.75 and 15 000 unexercised

options in the Company, corresponding to 15 000 shares at the strike

price of NOK 21.80. As of today the primary insider holds 2 422 shares

in the Company.

After exercising options, Kari Stautland holds 17 500 unexercised

options in the Company, corresponding to 17 500 shares at the strike

price of NOK 14.00. As of today the primary insider holds 14 012 120

shares in the Company through AREPO AS (which is wholly owned Stautland)

After exercising options, Frode Hernes holds 42 000 unexercised options

in the Company, corresponding to 42 000 shares at the strike price of

NOK 12.00, 16 000 unexercised options in the Company, corresponding to

16 000 shares at the strike price of NOK 16.60 and 10 000 unexercised

options in the Company, corresponding to 10 000 shares at the strike

price of NOK 21.80. As of today the primary insider holds 21 727 shares

in the Company.

After exercising options, Jason Hoida holds 8 000 unexercised options in

the Company, corresponding to 8 000 shares at the strike price of NOK

16.30, 16 000 unexercised options in the Company, corresponding to 16

000 shares at the strike price of NOK 23.80, 36 000 unexercised options

in the Company, corresponding to 36 000 shares at strike price 27.90 and

and 35 000 unexercised options in the Company, corresponding to 35 000

shares at the strike price of NOK 21.80. As of today the primary insider

holds 4,983 shares in the Company.

After exercising options, Stig Halvorsen holds 10 045 unexercised

options in the Company, corresponding to 10 045 shares at the strike

price of NOK 12.00 and 8 000 unexercised options in the Company,

corresponding to 8 000 shares at the strike price of NOK 16.60. As of

today the primary insider holds 1 487 shares in the Company.

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 and 28 000 unexercised options in the Company, corresponding to 28

000 shares at the strike price of NOK 14.60, 16 000 unexercised options

in the Company, corresponding to 16 000 shares at strike price 16.60 and

and 10 000 unexercised options in the Company, corresponding to 10 000

shares at the strike price of NOK 21.80.

After exercising options, Charles McCathieNevile holds 7 527 unexercised

options in the Company, corresponding to 7 527 shares at the strike

price of NOK 12.00 and 5 200 unexercised options in the Company,

corresponding to 5 200 shares at the strike price of NOK 16.60. As of

today the primary insider holds 3 237 shares in the Company.

After exercising options, Håkon Wium Lie holds 35 000 unexercised

options in the Company, corresponding to 35 000 shares at the strike

price of NOK 12.00. As of today the primary insider holds 1 013 082

shares in the Company through MERM AS (which is wholly owned Wium Lie).

After exercising options, Nuno Sitima holds 15 750 unexercised options

in the Company, corresponding to 15 750 shares at the strike price of

NOK 12.00, 14 000 unexercised options in the Company, corresponding to

14 000 shares at the strike price of 17.80, 8 000 unexercised options in

the Company, corresponding to 8 000 shares at the strike price of 23.80

and 30 000 unexercised options in the Company, corresponding to 30 000

shares at the strike price of NOK 21.80.. As of today the primary

insider holds [x] shares in the Company.

After exercising options, Erika Gillemyr holds 6 888 unexercised options

in the Company, corresponding to 6 888 shares at the strike price of NOK

12.00 and 4 800 unexercised options in the Company, corresponding to 4

800 shares at the strike price of 16.60.

Petter Lade, Investor Relations

Tel: +47 2369 3444

Opera Software ASA has redefined Web browsing for PCs, mobile phones and

other networked devices. Opera's cross-platform Web browser technology

is renowned for its performance, standards compliance and small size,

while giving users a faster, safer and more dynamic online experience.

Opera Software is headquartered in Oslo, Norway, with offices around the

world. The company is listed on the Oslo Stock Exchange under the ticker

symbol OPERA. Learn more about Opera at http://www.opera.com

(http://www.opera.com/).