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MultiPower ASA

MultiPower ASA

(the 'Company')

Director and other shareholding

Further to the announcement made by the Company on 8 July 2008 whereby the Company made certain shareholder disclosures following the placing approved on 4 July 2008 (the 'Placing'), Thomas Kielland, a non-executive director of the Company has today notified the Company that he has an economic interest in 4,758,843 ordinary shares representing 2.53 per cent of the Company. Mr Kielland holds 100 per cent of the shares in Newport Invest AS which owns 40 per cent of IT-Venture AS which in turn owns 48.49 per cent of Soft City Holding which subscribed for 20,000,000 shares in the Placing. In addition IT-Venture AS owns 51.5 per cent of Telelink Holding AS which owns 21.46 per cent of Soft City Holding.

In addition, Mr Jens Teigen, owner of Springfield AS, has notified the Company that he has and additional economic interest in 3.8 per cent of the Company, through his interests in Maribu Holding and Soft City Holding, in addition to the 26.56 per cent he owns through Springfield AS.

As announced on 8 July the shares issued in the Placing were as follows:

 

	Placing participation	Percentage interest prior to placing	Percentage interest following placing
Springfield AS	10,000,000	39.72%	26.56%
Maribu Holding	19,142,840	0.00%	10.18%
Soft City Holding	20,000,000	0.00%	10.63%
GladiNOK	7,500,000	0.00%	3.99%
R-Partner	5,500,000	0.60%	3.24%

All the shares were subscribed to at the placing price of NOK 0.05 per share.

Enquiries:

MultiPower	Morten Hansson Chief Executive Officer	+ 47 67 82 70 40
HansonWesthouse	Bill Staple Martin Davison	020 7601 6100

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