StrongPoint — Earnings Release 2010

May 7, 2010

PSI GROUP - First quarter 2010 results

Rælingen, Norway, 7 May 2009: PSI Group had operating revenues of NOK 129.4

million in the first quarter of 2010, compared with NOK 147.2 million in the

first quarter last year. Operating profit before depreciation and amortization

(EBITDA) in the quarter came to NOK 0.2 million compared with NOK 16.9 million

in the first quarter last year. EBITDA in the first quarter 2010 was negatively

influenced by a weak quarter for Cash Management CIT/ATM business area. Measures

to improve profit are implemented and non-recurring costs related to lay-offs

totaling NOK 2.8 million has been booked in the quarter.

Cash Management CIT/ATM comprises development, production and sale of cash

security solutions for ATM manufacturers and cash in transit operators. The

business area is characterised by volatility both in revenues and profit. Based

on weak performance, PSI Group has implemented measures to improve profit. These

measures include a reduction in headcounts by 16 man-years. The downsizing is

expected to produce annual cost savings of NOK 8 million, with effect from the

second quarter 2010.

- Operating revenues and profit are affected by weak performance in one of our

business areas due to low order intake around the turn of the year. However, we

have taken necessary measures and Cash Management CIT/ATM is expected to report

a positive EBITDA in the second quarter, says Jørgen Waaler, president and CEO

of PSI Group ASA.

- In March 2010 Retail Solutions renewed its agreement with NorgesGruppen. PSI

has so far delivered about 4,500 CashGuard systems to NorgesGruppen. The renewed

agreement involves an expanded product spectre, including opportunities to

upgrade to newer systems with extra functionality..

Operating profit (EBIT) for the first quarter were a negative of NOK 6.2

million, compared with NOK 10.7 million in the same period of 2009. Diluted

earnings per share were a negative of NOK 0.35 for the quarter, compared with

NOK 0.26 in the first quarter 2009.

For more information, please contact:

Jørgen Waaler, CEO PSI Group ASA, Tel +47 905 90 010

About PSI Group

PSI Group is a leading global provider of closed and secure cash handling

solutions in the society and provider of retail technology for improving the

efficiency of price, goods and consumer information in selected geographical

areas.

PSI Group is head quartered at Rælingen (Norway) and has about 345 employees in

Scandinavia and Europe. The company is listed on the Oslo Stock Exchange and

Nasdaq OMX in Stockholm.

For more information, visit www.psi-asa.com

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

(Norwegian Securities Trading Act)

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