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NorDiag – Subscription result share issue and publishing of subscription rate

Bergen, December 5 2005;
In connection with the planned listing of the biotechnology company NorDiag ASA on Oslo Stock Exchange, the company has carried out a share issue of 7.5 million shares at a subscription rate of NOK 10 per share. Following the transaction, NorDiag ASA fulfils the criteria for listing at the Oslo Stock Exchange, and the first listing date is expected to be on 14 December 2005.

It is hereby referred to the earlier press release from Oslo Stock Exchange regarding the share issue of NorDiag ASA in connection with the company’s application for listing at the Oslo Stock Exchange.

The offering consisted of a maximum of 7,500,000 new shares in the company at a subscription rate which was to be decided through a book building process. At the end of the subscription on 2 December, the company had received subscriptions for approximately 8,300,000 shares from approximately 150 subscribers.

The Board of the company decided at a meeting on 5 December 2005 to set a share price of NOK 10 per share. The share issue values NorDiag ASA to NOK 160 million, including a convertible loan of NOK 10 million, and prior to the registration of the increase of the share capital.

Following the transaction, NorDiag fulfils the conditions for listing at the Stock Exchange. The first listing date is expected to be on December 14 2005.

After registration of the share capital issue in the Registry of Business Enterprises, NorDiag ASA will have a total share capital of NOK 2,350,742.50 distributed between 23,507,425 shares, each with a par value of NOK 0.10.

- We are very pleased with the successful share capital issue and the interest in the Company. This gives us a very good basis for establishing Genefec in Europe as the leading genetic test for detecting colorectal cancer in the early stages, says NorDiag’s CEO, Christian Horn.

The notice on the issue will be sent today, the 5 December. Payment for the shares has been set to the 8 December 2005.

Pareto and Handelsbanken Capital Markets have been Managers of the share issue and planned listing of the shares.

For furher information, please contact:
Christian Horn, CEO, NorDiag ASA
Phone: +47 90 16 31 53

About NorDiag ASA
NorDiag is a biotechnology company focusing on the early detection of cancer. The Company’s first product is GenefecTM, a genetic test for the early detection of colorectal cancer . The test gives positive results for mutations in the K-ras and p-53 genes, which indicates that a cancer tumour is developing.