NORWAY - SCAN has completed a private placement of NOK 224m

Norvestor backed SCAN has successfully completed a private placement of 8m shares at a price of NOK 28 per share, equalling gross proceeds of NOK 224m. SCAN announced the private placement on May 2nd 2007, of 6-8m shares and retail offering of 2-4m shares, and secondary sale of 10m shares in relation to the scheduled listing on Oslo Børs or Oslo Axess. The secondary sale of 10m existing shares, at NOK 28 per share, was completed by the three shareholders, Norvestor IV with 9.5m shares, Loyd AS with 440,000 shares and Geolistic with 60,000 shares. After the sale, Norvestor will continue to be the largest shareholder in SCAN with 19,584,900 shares (21,77%). The private placement and secondary sale of shares was oversubscribed and further strengthened the shareholders base in SCAN. The new shareholders are both Norwegian and international investors.