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Opera Seeking Public Listing In March: Reports Year-End and Fourth Quarter Financial Results

February 9, 2004

Oslo, Norway - 9 February 2004

Opera Software ASA today reported revenues of 28.8 MNOK, for the quarter ended December 31, 2003 compared to 13.8 MNOK, for the same period in 2002, a growth of 108.7%. Earnings before interest and tax ("EBIT") in fourth quarter was MNOK 6.5 compared to MNOK -6.7 in 2002. Accumulated revenues for the year 2003 were MNOK 78.5 compared to MNOK 51.1 in 2002, a growth of 53.8%. EBIT for 2003 ended at MNOK 1.3 compared to MNOK -21.4 for 2002.

"After developing and refining the technology and commercial side for nine years, Opera Software is now ready for public listing," says Jon S. von Tetzchner, CEO, Opera Software ASA. "Opera has come far, and a public listing will give us more flexibility to expand our position as a leading player in the Internet arena."

The company's Board of Directors has decided to apply for public listing on the Oslo Stock Exchange (OSE) in March 2004. Opera Software's joint lead managers for its initial public offering (IPO) are Enskilda Securities and ABG Sundal Collier.

 

Fourth Quarter

Accumulated

(Figures in TNOK)

2002

2003

2002

2003

Total Operating Revenues

13800

28802

51060

78531

Payroll and Related Expenses

13488

14902

47016

51315

Depreciation and Amortization

1940

682

3118

2724

Other Operating Expenses

5147

6756

22307

23227

Total Operating Expenses

20575

22340

72441

77266

Earnings Before Interest and Tax ("EBIT")

-6775

6462

-21380

1265

About Opera

Opera enables more than 350 million internet consumers worldwide to connect with the content and services that matter most to them. Opera also helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 1 billion.

Opera is a trademark of Opera Software AS.