2010.02.12

Release of lock-up of shares



In connection with the refinancing of Nio Security, Inc. in November 2009, the lenders under the NOK 20 million short term loan agreement and other key creditors accepted to convert debt into a total of 14,371,558 new shares in Nio. The lenders and creditors agreed to a lock-up, where each agreed not to dispose of any shares for a period of 90 days from the date of listing of the new shares.

The board of directors of Nio has resolved to release the lock-up for the converting shareholders effective as of today.

For further information, please contact: Espen Brodin, Chairman & CEO, +47 92 04 45 58