Nordic Panorama PLC
31 January 2008

31 January 2008

                              NORDIC PANORAMA PLC

                      ('Nordic Panorama' or the 'Company')

                  Directorate change and Directors' interests


Nordic Panorama PLC, a leading ski resort operator and property developer in
Norway, announces that Mumtaz Khan, Chairman, has decided to step down from the
Board with immediate effect as a result of his extensive commitments in a number
of private interests.  The Directors are currently in discussions with some good
candidates and expect to announce the appointment of a new Chairman in due
course.

The Company also announces that it has today issued the following options over
new ordinary shares: options over 55,249,353 shares to Geir Kjaernes, CEO, and
options over 18,416,451 shares to Per Christian Voss, non-executive Director.
These options represent the total interests of Geir Kjaernes and Per Christian
Voss respectively in the issued share capital of the Company.

The options have been issued under the Nordic Panorama plc 2007 Share Option
Plan and are exercisable at 1.875p per share as to one third at any time after 1
May 2008, one third at any time after 1 May 2009 and the final third at any time
after 1 May 2010.  The options expire if not exercised by 30 April 2017.

The Company announced, on 2 November 2007, that it had signed a letter of intent
for the possible acquisition of Odyx AB ('Odyx'), a private Swedish company with
ski resort operations in Russia.  Odyx was in discussions to raise finance in a
private placement with Swedish investors and its acquisition was subject to
satisfactory completion of due diligence by Nordic Panorama.  However, as Odyx
has not completed its fundraising, which the Directors considered to be
necessary for the development of its activities, the Company has not extended
the period of exclusivity with Odyx from 31 January 2008.

The Directors are currently reviewing a number of potential opportunities for
the Company for the acquisition of ski resort operations in Scandinavia and
Eastern Europe.

For further information:


Nordic Panorama Plc
Geir Kjaernes, CEO                                               00 47 23 133027
Norman Lott, FD                                                    0207 153 4920

Shore Capital                                                      020 7408 4090
Alex Borrelli

Threadneedle Communications                                        020 7936 9605
Graham Herring
Josh Royston




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