Otello Corporation ASA

UPDATE ON BEMOBI IPO IN BRASIL

Otello has noted information in the market with respect to the previously

announced process to publicly list its Bemobi business in Brazil. Otello can

confirm that the listing process has progressed and is expected to be finalized

very soon. Further, Otello can confirm that the pricing per share applicable to

the initial public offering (IPO) is set at 22 Brazilian Real and that this is

towards the high end of the indicative price range. Otello will release the

number of shares to be sold in the IPO and hence the subsequent, indirect

ownership by Otello in Bemobi post the IPO to the market when available.

Petter Lade, CFO

Phone: +47 91143878

About Otello: Otello holds shares in several different businesses, including (i)

AdColony which helps publishers monetize their content through advertising and

advertisers reach the audiences that build value for their businesses,

capitalizing on a global consumer audience reach that exceeds 2 billion; (ii)

Bemobi, a Mobile Media and Entertainment company which integrate people and

mobile content through technology and offers a leading subscription-based

discovery service for mobile apps in Latin America and beyond; (iii) Skyfire

which offers cloud-based network solutions for mobile operators and (iv) Vewd

which offers OTT services in the Connected TV space.

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