Cf. the company announcement of September 28th, the company has entered into a
conditional agreement with HFI af 27.09.2010 ApS, SB Holding 2009 ApS (a
subsidiary of ALMC hf. - the former Straumur Burdaras investment bank) and
Stodir hf. (together known as “the Consortium”), regarding subscriptions of
5,000,000 offered shares, which, together with further pledges to subscribe,
bring the company above the minimum amount required for the capital increase. 

The conditions in the agreement with the Consortium are as follows:

? That the bank creditors representing more than 95% of the banks involved in
  the bank agreement accept a minimum net proceed of DKK 50 mill
 
? That offered shares have not been subscribed or conditional pledges to
  subscribe offered shares called for more than DKK 39 mill (the offer is
  maximized to DKK 89 m). However, the Agreement will not be annulled no matter
  how many offered shares have been subscribed due to the exercise of
  pre-emptive rights (i.e. it is the conditional pledges to subscribe that, if
  the occasion arises, will be reduced/ will not be called), and 
 
? That the Consortium receives exemption from the Danish Financial Services
  Authority regarding the submission of a mandatory take-over offer to the rest
  of the shareholders, cf. the Danish Securities Act § 31. 

The first two conditions were fulfilled the September 28th 2010. Today the
Consortium has also received pre-approval from the the Danish Financial
Services Authority regarding exemption from submission of a mandatory take-over
offer to the other shareholders in the company, cf. the Danish Securities Act §
31, hence all the conditions in the agreement have been fulfilled. 

Kind regards,

Nordicom A/S
Board of Directors

For further information/ comments please contact the Chairman of the board
Steen Hundevad Knudsen on +45 40454556.