Otello Corporation ASA

Director's Dealing • Dec 14, 2010

Mandatory notification of trade

Mandatory notification of trade

In connection with a demerger of Mozart Invest AS into Dvorzak Invest AS

and Digital Iceland AS(both new companies), all wholly owned by The

Primary Insider Jon S. von Tetzchner, 14,749,742 shares in Opera

Software ASA held by Mozart Invest AS has been transferred to Dvorzak

Invest AS. While 250,000 shares has been transferred to Dvorzak Invest

AS.

As of today The Primary Insider holds 14,999,742 shares in Opera

Software ASA through Dvorzak Invest AS and Digital Iceland AS, and

1,000,000 options.

Petter Lade, Investor Relations

Tel: 47 2369 3444