New Chairman and CEO for Nio Security

The Board of Directors of Nio Security, Inc. has
today elected Mr Lars Moldestad as new Chairman of
the Board. Furthermore, Mr Tore Formo has been
appointed Chief Executive of Nio.

As announced on 19 May 2011, Nio's Annual Meeting of
shareholders elected a Board of Directors consisting
of Mr Lars Moldestad, Mr Jon B. Skabo, Mr Bjarne
Støtvig and Mrs Monica Mjøs Lassen.

Lars Moldestad is Nio's largest shareholder. He is a
private investor with a broad experience from the oil
industry. Tore Formo has served as Nio's CFO since
2005. Nio's former Chairman and CEO, Mr Espen Brodin,
has resigned from his positions.

For further information please contact Tore Formo,
+47 91 668 678.