SOURCE: Telio Holding ASA

June 27, 2008 10:14 ET

Ruling in Labs2 case in Lagmannsretten

OSLO, NORWAY--(Marketwire - June 27, 2008) - The legal dispute between Telio Holding ASA ('Telio') and Labs2 Norge ASA ('Labs2') was heard in Lagmannsretten (the Court of Appeals) in Oslo in late April. On 26 June 2008, Telio received the judgement from Lagmannsretten. Lagmannsretten has upheld the judgement from Oslo Tingrett in February 2007. Thus, Telio's appeal was rejected and Telio is held liable to pay an amount of NOK 5.415 million plus interest. The appeals courts also rejected Labs2's appeal of a part of Oslo Tingrett's judgement and Telio was therefore acquitted for a claim of NOK 2 million plus interest. Telio has accounted for the costs related to this case in the 2006 annual accounts in addition to accrued interest in the periods after.Consequently, the judgement will have no material impact on the 2008 financial results.

Telio will over the next days carry out a thorough evaluation of the judgement in order to decide whether or not to appeal the judgment to Høyesterett (the Supreme Court).

Copyright © Hugin AS 2008. All rights reserved.

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