30/08-10   -   Press releases

Exercise of employee share options in Opera Software ASA

1. Participants in the Company’s share option program have on August 27th 2010 exercised a total number of 414 712 options. Following the exercise, 414 712 shares will be transferred from Opera Software’s holding of own shares. Subsequent to the transaction Opera Software ASA holds 195 908 own shares.

2. Options exercised by primary insiders August 27th 2010:

- Joakim Kasbohm has exercised 1 000 options in the Company, corresponding to 1 000 shares at the strike price of NOK 14.60.

- Kari Stautland has exercised 12 500 options in the Company, corresponding to 12 500 shares at the strike price of NOK 14.00.

- Frode Hernes has exercised 30 000 options in the Company, corresponding to 30 000 shares at the strike price of NOK 12.00 and 4 000 options in Company, corresponding to 4 000 shares at the strike price of NOK 16.60.

- Jason Hoida has exercised 2 000 options in the Company, corresponding to 2 000 shares at the strike price of NOK 16.30.

- Stig Halvorsen has exercised 7 175 options in the Company, corresponding to 7 175 shares at the strike price of NOK 12.00 and 2 000 options in Company, corresponding to 2 000 shares at the strike price of NOK 16.60.

- Johan Borg has exercised 20 000 options in the Company, corresponding to 20 000 shares at the strike price of NOK 14.60 and 4 000 options in Company, corresponding to 4 000 shares at the strike price of NOK 16.60.

- Charles McCathieNevile has exercised 1 500 options in the Company, corresponding to 1 500 shares at the strike price of NOK 12.00 and 500 options in Company, corresponding to 500 shares at the strike price of NOK 16.60.

- Håkon Wium Lie has exercised 25 000 options in the Company, corresponding to 25 000 shares at the strike price of NOK 12.00.

- Nuno Sitima has exercised 11 250 options in the Company, corresponding to 11 250 shares at the strike price of NOK 12.00.

- Erika Gillemyr, a related party to Rikard Gillemyr, has exercised 1 200 options in the Company, corresponding to 1 200 shares at the strike price of NOK 16.60.

3. Transfer of rights

On August 27th 2010, the primary insiders mentioned below transferred their rights to receive shares resulting from the exercise of options to a third party. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. Still, primary insiders cannot be held liable for losses incurred by the third party if the shares are later sold below the strike price. Final compensation for the transferred rights will be reported to Oslo Børs when known.

- Joakim Kasbohm has transferred 1 000 rights
- Kari Stautland has transferred 12 500 rights
- Frode Hernes has transferred 34 000 rights
- Jason Hoida has transferred 2 000 rights
- Stig Halvorsen has transferred 9 175 rights
- Johan Borg has transferred 24 000 rights
- Charles McCathieNevile has transferred 2 000 rights
- Håkon Wium Lie has transferred 25 000 rights
- Nuno Sitima has transferred 11 250 rights

4. Purchase of shares
On August 27th 2010, the primary insiders mentioned below entered into an agreement to use part or all of the compensation mentioned in item 3 to purchase shares. When known, the final number of shares, along with the compensation, will be reported to Oslo Børs.

Charles McCathieNevile
Stig Halvosen
Jason Hoida

5. New holding
- After exercising options, Joakim Kasbohm holds 3 000 unexercised options in the Company, corresponding to 3 000 shares at the strike price of NOK 14.60, 16 000 unexercised options in the Company, corresponding to 16 000 shares at the strike price of NOK 12.75 and 15 000 unexercised options in the Company, corresponding to 15 000 shares at the strike price of NOK 21.80. As of today the primary insider holds 2 422 shares in the Company.

- After exercising options, Kari Stautland holds 17 500 unexercised options in the Company, corresponding to 17 500 shares at the strike price of NOK 14.00. As of today the primary insider holds 14 012 120 shares in the Company through AREPO AS (which is wholly owned Stautland)

- After exercising options, Frode Hernes holds 42 000 unexercised options in the Company, corresponding to 42 000 shares at the strike price of NOK 12.00, 16 000 unexercised options in the Company, corresponding to 16 000 shares at the strike price of NOK 16.60 and 10 000 unexercised options in the Company, corresponding to 10 000 shares at the strike price of NOK 21.80. As of today the primary insider holds 21 727 shares in the Company.

- After exercising options, Jason Hoida holds 8 000 unexercised options in the Company, corresponding to 8 000 shares at the strike price of NOK 16.30, 16 000 unexercised options in the Company, corresponding to 16 000 shares at the strike price of NOK 23.80, 36 000 unexercised options in the Company, corresponding to 36 000 shares at strike price 27.90 and and 35 000 unexercised options in the Company, corresponding to 35 000 shares at the strike price of NOK 21.80. As of today the primary insider holds 4,983 shares in the Company.

- After exercising options, Stig Halvorsen holds 10 045 unexercised options in the Company, corresponding to 10 045 shares at the strike price of NOK 12.00 and 8 000 unexercised options in the Company, corresponding to 8 000 shares at the strike price of NOK 16.60. As of today the primary insider holds 1 487 shares in the Company.

- After exercising options, Johan Borg holds 10 045 unexercised options in the Company, corresponding to 10 045 shares at the strike price of NOK 12.00 and 28 000 unexercised options in the Company, corresponding to 28 000 shares at the strike price of NOK 14.60, 16 000 unexercised options in the Company, corresponding to 16 000 shares at strike price 16.60 and and 10 000 unexercised options in the Company, corresponding to 10 000 shares at the strike price of NOK 21.80.

- After exercising options, Charles McCathieNevile holds 7 527 unexercised options in the Company, corresponding to 7 527 shares at the strike price of NOK 12.00 and 5 200 unexercised options in the Company, corresponding to 5 200 shares at the strike price of NOK 16.60. As of today the primary insider holds 3 237 shares in the Company.

- After exercising options, Håkon Wium Lie holds 35 000 unexercised options in the Company, corresponding to 35 000 shares at the strike price of NOK 12.00. As of today the primary insider holds 1 013 082 shares in the Company through MERM AS (which is wholly owned Wium Lie).

- After exercising options, Nuno Sitima holds 15 750 unexercised options in the Company, corresponding to 15 750 shares at the strike price of NOK 12.00, 14 000 unexercised options in the Company, corresponding to 14 000 shares at the strike price of 17.80, 8 000 unexercised options in the Company, corresponding to 8 000 shares at the strike price of 23.80 and 30 000 unexercised options in the Company, corresponding to 30 000 shares at the strike price of NOK 21.80.. As of today the primary insider holds [x] shares in the Company.

- After exercising options, Erika Gillemyr holds 6 888 unexercised options in the Company, corresponding to 6 888 shares at the strike price of NOK 12.00 and 4 800 unexercised options in the Company, corresponding to 4 800 shares at the strike price of 16.60.

Petter Lade, Investor Relations

Tel: +47 2369 3444

Opera Software ASA has redefined Web browsing for PCs, mobile phones and other networked devices. Opera´s cross-platform Web browser technology is renowned for its performance, standards compliance and small size, while giving users a faster, safer and more dynamic online experience. Opera Software is headquartered in Oslo, Norway, with offices around the world. The company is listed on the Oslo Stock Exchange under the ticker symbol OPERA. Learn more about Opera at http://www.opera.com (http://www.opera.com/).