Otello Corporation ASA

Major Shareholding Notification • Feb 25, 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 February

24th 2010 exercised a total number of 509 629 options. Following the

exercise, 509 629 shares will be transferred from Opera Software's

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

holds 813 669 own shares.

2. Options exercised by primary insiders February 24th 2010:

Anne Stavnes has exercised 25 000 options in the Company, corresponding

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

Christen Krogh has exercised 167 500 options in the Company,

corresponding to 167 500 shares at the strike price of NOK 12.00.

Frode Hernes has exercised 24 000 options in the Company, corresponding

to 24 000 shares at the strike price of NOK 12.40.

Karl Anders Øygard has exercised 5 740 options in the Company,

corresponding to 5 740 shares at the strike price of NOK 12.40.

Lars Erik Bolstad 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.

Tove Selnes has exercised 8 000 options in the Company, corresponding to

8 000 shares at the strike price of NOK 13.10.

Charles McCathieNevile has exercised 1 000 options in the Company,

corresponding to 1 000 shares at the strike price of NOK 12.00 and 300

options in Company, corresponding to 300 shares at the strike price of

NOK 16.60.

Tor Odland has exercised 2 500 options in the Company, corresponding to

2 500 shares at the strike price of NOK 12.00.

Nuno Sitima has exercised 9 000 options in the Company, corresponding to

9 000 shares at the strike price of NOK 12.40.

3. Transfer of rights

On February 24th 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 has been 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. The

obtained selling price was NOK 18,3155.

Anne Stavnes has transferred 25 000 rights

Christen Krogh has transferred 167 500 rights

Frode Hernes has transferred 24 000 rights

Karl Anders Øygard has transferred 5 740 rights

Lars Erik Bolstad has transferred 34 000 rights

Tove Selnes has transferred 8 000 rights

Charles McCathieNevile has transferred 1 300 rights

Tor Odland has transferred 2 500 rights

Nuno Sitima has transferred 9 000 rights

4. Purchase of shares

On February 24th 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.

Charles McCathieNevile has purchased 200 shares at NOK 18.3155

Tor Odland has purchased 832 shares at NOK 18.3155

5. New holding

After exercising options, Anne Stavnes holds 35 000 unexercised options

in the Company, corresponding to 35 000 shares at the strike price of

NOK 12.00 and 10 000 unexercised options in the Company, corresponding

to 10 000 shares at the strike price of NOK 27.90.

After exercising options, Christen Krogh holds 234 000 unexercised

options in the Company, corresponding to 234 000 shares at the strike

price of NOK 12.00. As of today the primary insider holds 15 921 shares

in the Company.

After exercising options, Frode Hernes holds 72 000 unexercised options

in the Company, corresponding to 72 000 shares at the strike price of

NOK 12.00 and 20 000 unexercised options in the Company, corresponding

to 20 000 shares at the strike price of NOK 16.60. As of today the

primary insider holds 21 727 shares in the Company.

After exercising options, Karl Anders Øygard holds 17 220 unexercised

options in the Company, corresponding to 17 220 shares at the strike

price of NOK 12.00, 10 000 unexercised options in the Company,

corresponding to 10 000 shares at the strike price of NOK 16.60 and 10

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

at strike price 27.90. As of today the primary insider holds 200 shares

in the Company and in addition holds 753,931 shares in Opera Software

through Willemhaugen Invest AS that is owned by Karl Anders Øygarden

with 100%.

After exercising options, Lars Erik Bolstad holds 42 000 unexercised

options in the Company, corresponding to 42 000 shares at the strike

price of NOK 12.00 and 16 000 unexercised options in the Company,

corresponding to 16 000 shares at the strike price of NOK 16.60.

After exercising options, Tove Selnes holds 24 000 unexercised options

in the Company, corresponding to 24 000 shares at the strike price of

NOK 13.10 and 40 000 unexercised options in the Company, corresponding

to 40 000 shares at the strike price of NOK 24.70. As of today the

primary insider holds 8 890 shares in the Company.

After exercising options, Charles McCathieNevile holds 9 332 unexercised

options in the Company, corresponding to 9 332 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 2 425 shares in the Company.

After exercising options, Tor Odland holds 3 500 unexercised options in

the Company, corresponding to 3 500 shares at the strike price of NOK

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

000 shares at the strike price of NOK 17.80. As of today the primary

insider holds 2 143 shares in the Company.

After exercising options, Nuno Sitima holds 27 000 unexercised options

in the Company, corresponding to 27 000 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 2 000 unexercised options in the Company, corresponding to 2 000

shares at the strike price of 24.00. As of today the primary insider

holds 9 698 shares in the Company.

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.