Blom has had a very challenging fourth quarter. Blom expects to report an operating loss of 176 million NOK for the quarter. As a result of poor operating performance and deteriorating macro-economic conditions in several of the countries where Blom operates, EBIT is charged with write downs of 158 million NOK. In addition, the Board has decided to make additional write downs, primarily of financial assets and deferred tax assets, in total of 104 million NOK. Consequently the company's equity is lost. Blom is working actively with a proposal for restructuring the company's balance sheet to create a sound financial basis for further operations. A constructive dialogue with a majority of bondholders has been initiated to establish a more long term solution of the company's debt structure. The company expects to have sufficient liquidity until a solution has been established. The Board has decided to engage a financial advisor to assist the company in the process of restructuring the capital structure. The mandating of a financial advisor is expected to be made shortly. This information is subject to the Securities Trading Act § 5-12. For further information please contact: Dirk Blaauw, CEO Blom ASA, at tel: +47 22 13 19 23 or Lars Bakklund, CFO Blom ASA, at tel: +47 22 13 19 3