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Otello Corporation ASA

Major Shareholding Notification Dec 3, 2010

3704_dirs_2010-12-03_8d44b8d9-5d16-49a3-b94d-5992047a81bd.html

Major Shareholding Notification

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Mandatory notification of trade

Mandatory notification of trade

On 3 December 2010, Merm AS sold 400,000 shares in Opera Software

ASA ("The Company") at an average price of NOK 28.20 per share. Merm

AS is wholly owned by CTO Håkon Wium Lie ("The Primary Insider").

In connection with a merger of Merm AS and Myem AS into Merem AS (a

new company), all wholly owned by The Primary Insider, 613,082 shares

in The Company held by Merm AS has been transferred to Merem AS.

As of today The Primary Insider holds 613,082 shares in The Company

through Merem AS, and 35,000 options.

Petter Lade, Investor Relations

Tel: 47 2369 3444

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