Techstep ASA — Director's Dealing 2010

Nov 16, 2010

Grant of share purchase rights to participating employees, including primary insiders - mandatory notification of trade

Employee share incentive program:

In accordance with the resolution in the Extraordinary

General Meeting in Birdstep Technology ASA on 10

November 2010, the Board of Directors granted share

purchase rights to employees participating in an

incentive based program.

The incentive based program involves a savings plan

offered to all employees who voluntarily agreed to

reduce their annual base salary by up to 15% for 1

year. After a contribution/service period of one year,

such employees may acquire shares at a 50% discount of

the lower of the fair market value at 15 November 2010

(the date of commencement of the contribution/service

period) or the fair market value at 14 November 2011

(the date of grant). The eligible and participating

employee shall cover the applicable employer's

contribution according to applicable law. As a result

of this program, the total number of share purchase

rights being granted is 4 121 618, representing a 5.8%

dilution effect (as of 15 November 2010). However,

this dilution effect is subject to change as the

strike price of the options will be the lower of 50%

of the closing price of the Birdstep share on the Oslo

Stock Exchange on 15 November 2010 or 14 November

The following primary insiders were granted share

purchase rights, representing 69.3% of the total share

purchase rights under the incentive based program,

each with a maximum strike price of NOK 0.56, which is

equal to 50% of the closing price of the Birdstep

share on the Oslo Stock Exchange on (Monday) 15

November 2010, and in addition own the following

number of shares and options in Birdstep Technology:

Torbjørn Sandberg, CEO: 931 929 share purchase rights.

Sandberg's other holdings of options and shares in

Birdstep Technology is 800 000 options and 119 911

shares

André V. Demarest, CFO: 639 011 share purchase rights.

Demarest's total holding of options and shares in

Birdstep Technology is 600 000 options and 550 000

shares.

Michael Jönsson, VP Global Sales EasyConnect: 279 579

share purchase rights.

Jönsson's total holding of options and shares in

Birdstep Technology is 0 options and 0 shares

Tim Carter, VP Global Sales SafeMove: 343 364 share

purchase rights.

Carter's total holding of options and shares

in Birdstep Technology is 250 000 options and 0 shares

Anders Storm, VP Engineering&Operations: 298 217 share

purchase rights.

Storm's total holding of options and shares in

Birdstep Technology is 100 000 options and 15 000

shares

Stephen Morris, VP Product&Marketing: 365 316 share

purchase rights.

Morris' total holding of options and shares in

Birdstep Technology is 400 000 options and 0 shares