Cf. the latest company announcement, 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 are as follows:
? The requirement in the bank agreement for net proceeds of at least DKK 100 m
  is reduced to a minimum of DKK 50 m. 
? The issuance is maximized to DKK 89 m.
? Existing shareholders are exempt from the submission of a mandatory take-over
  offer. 

Today a final approval from the credit institutions involved in the bank
agreement has been received regarding validity of the bank agreement on the
current terms, featuring a minimum capital increase of DKK 50 m. The first
condition of the agreement has thereby been fulfilled. The agreement with the
Consortium is therefore solely conditional on the following: 

? The issuance is maximized to DKK 89 m.
? Existing shareholders are exempt from the submission of a mandatory take-over
  offer. 

Kind regards,

Nordicom A/S
Board of Directors

For further information/ comments please contact the Managing Director of
Nordicom A/S, Niels Troen, tel. +45 33 33 93 03, mobile: +45 51 51 23 42.