Request for early conversion from Spring capital Resources Inc. - further process

Bergen Group has today received a request from Spring Capital Resources Inc for
an early conversion of the convertible bond loan in the amount of NOK 120
million. The Board of Directors will discuss the request in a board meeting on
Friday 12 November 2010.

If the parties agree on a conversion, there will be issued 10 million new shares
at a conversion price per share of NOK 12, cf. stock exchange announcements on
11 August and 27 October 2010.

After a possible conversion the new total number of shares in the company will
be 60,622,009 shares and Spring Capital Resources Inc will then own 20,068,500
shares, constituting 33,1 % of the share capital in Bergen Group ASA. Reference
in this case is made to the stock exchange announcement from Spring Capital
Resources Inc earlier today.

Bergen Group has since August been in constructive discussions with Spring
Capital Resources Inc concerning a strategic co-operation.

Contact persons:
CEO Bergen Group Pål Engebretsen, phone: +47 911 17 369
CFO Terje Iversen, phone: +47 932 40 359

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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