Techstep ASA - Share Issue/Capital Change 2016

Correction - Contemplated Repair issue

Reference is made to the stock exchange notice published by

Birdstep Technology ASA («BIRD» or the «Company») on 9 March

2016 regarding an contemplated Repair Issue in BIRD in

connection with the private placement directed at Middelborg

Invest AS (the «Private Placement»),which, by inadvertence,

contained an error.

The correct wording shall read: In connection with the

Private Placement, and in order to facilitate the principle

of equal treatment of BIRD's shareholders, it is the

intention of the Board of Directors that BIRD will carry out

a repair issue (the «Repair Issue») directed towards

shareholders in BIRD, who were not given an opportunity to

participate in the Private Placement and who are not

resident in a jurisdiction where such offering would be

unlawful or (other than Norway) would require any filing,

registration or similar action, in the form of a subsequent

offering comprising up to 680,000 shares, each with a

nominal value of NOK 1.00 (following completion of the share

consolidation, which will become effective on Friday 11

March 2016), representing approximately 5 % of the shares

issued after the Private Placement»

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