Private placement completed

Reference is made to the stock exchange notice dated
12 January 2011 regarding a contemplated private
placement in Nio Security, Inc. ("Nio" or
the "Company").

The private placement as been completed and a total
of 6,000,000 shares have been allocated, at a
subscription price of NOK 2.50 per share. The total
gross proceeds from the private placement equal NOK
15,000,000. The proceeds from the Private Placement
will be used for general corporate purposes,
including service of shareholder loans.

The share capital increase was resolved by the Board
of Directors within the authorized shares of the
Company. The share capital is increased by USD
600,000 by the issue of 6,000,000 new shares.
Following the completion of the private placement
Nio's share capital is USD 4,547,804, divided into
45,478,041 shares with a nominal value of USD 0.1 per
share.

The subscribers in the private placement will
receive existing shares in the Company that are
already listed on the Oslo Stock Exchange, pursuant
to a share lending agreement entered into between ABG
Sundal Collier Norge ASA, Nio Security, Inc. and
Lars Moldestad, the Company's largest shareholder.
The shares delivered to the subscribers will thus be
tradable according to the trade date on the contract
notes to be issued for the allocated shares.

The new shares issued in connection with the private
placement will be re-delivered to Lars Moldestad
following completion of the share capital increase to
settle the share lending agreement described above.
The new shares will however be held separate from
Nio's already listed shares, and will not be listed
on Oslo Børs until a listing prospectus has been
approved by Finanstilsynet / Oslo Børs.

The Board of Directors of Nio has resolved to
complete a subsequent offering of up to 3 million
additional shares, whereby shareholders as per 12
January 2011 that were not allocated shares in the
completed private placement, will be able to apply
for shares at NOK 2.50 per share, equal to the
subscription price in the completed private
placement. The shares in Nio will therefore trade
excluding the right to participate in the subsequent
offering today, 13 January 2011.

The Company is pleased with the private placement and
in particular with the new institutions that
participated in the transaction.

The private placement was managed by ABG Sundal
Collier.

For further information, please contact:
Espen Brodin, Chairman & CEO, +47 920 44 558 or
Tore Formo, CFO, +47 916 68 678.