Otello Corporation ASA

Successful closing of the Transaction

Oslo, 4 November 2016

Reference is made to the stock exchange announcements made on 31 October 2016

regarding CFIUS approval and Transaction closing.

Opera Software ASA ("Opera" or the "Company") is pleased to announce that the

transaction between Opera Software ASA and Golden Brick Capital Private Equity

Fund I L.P. (the "Buyer") on the sale and purchase of Opera's consumer business

for $575 million (the "Transaction") has been successfully closed.

"This has been a long process, but we strongly believe the Transaction provides

a great outcome for the consumer business and the remaining parts of Opera. We

see an exciting future for Opera Mediaworks, Apps & Games, Opera TV, Skyfire and

SurfEasy, which are now well-positioned for growth with a strong financial

backbone." says Lars Boilesen, CEO of Opera.

Opera will report 3Q 2016 numbers on 10 November 2016, and will report the

consumer business as discontinued operations. Use of proceeds from the

Transactions will be announced at the 3Q 2016 presentation.

Petter Lade, Investor Relations

Tel: +47 2369 2400

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