Schibsted ASA (SCH) - Adjustment of terms for option programme

The 2010 Annual General Meeting of Schibsted resolved changes of the terms of

the group's option scheme to adjust for the effect of the rights issue that was

carried out in July 2009. Adjustment of number of shares per option and exercise

price was made in accordance with The Oslo Stock Exchange's Derivatives

Regulations, so that the value of the options is maintained after the share

issue.

After the adjustment, each option entails the right to acquire 1.256 shares.

Exercise price is adjusted by a factor of 0.797065. The same is the case for the

maximum share price (goes for the 2009 and 2008 programmes). Other terms of the

option scheme are unchanged.

The total number of outstanding options for Schibsted is 537,000, which entails

the right to acquire 675,100 shares. Schibsted holds 4,700,141 own shares, of

which 4,660,641 are held by Schibsted ASA, whereas 69,500 are held through the

subsidiary Bergens Tidende AS.

Please find attached an overview of the primary insiders' holding of options,

adjusted exercise price and maximum share price, and holding of Schibsted

shares.

Oslo, 25 May 2010

SCHIBSTED ASA

Jo Christian Steigedal

VP Investor Relations

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1418350]

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