Q-FREE ASA - FOURTH QUARTER RESULT 2009

Q-FREE ASA - FOURTH QUARTER RESULT 2009

Q-Free achieved record high revenues and profitability in the fourth
quarter 2009.

"We are pleased to present to our shareholders and employees all time
high revenues and profitability this quarter. This is clearly the best
motivation factor we can get", CEO Dr. Øyvind Isaksen comments.

Highlights from the quarter

- Record high revenues, 270.3 MNOK - 127 % growth compared to Q4-08
- Record high operating profit of 47.5 MNOK - 17.6% margin
- Record high profit before tax amounted to 46.2 MNOK, - 17.1% margin
- Gross margin of 65.3 %
- Cash flow from operations, 34.8 MNOK
- Order intake of 99 MNOK
- Order backlog of 713 MNOK

"2009 has given us a unique opportunity to take the next steps in the
development of the company. The added references through successful
delivery of the major projects in Slovakia, Portugal and Thailand are
invaluable. We are currently exploring many important new projects, and
with the new state of the art portfolio the company has formed a good
basis for long term growth ", says CEO Øyvind Isaksen.

Enclosures: Quarterly report and presentation

Trondheim 10th of February 2010.

For further information, please contact:
CEO Øyvind Isaksen, cell: +47 905 59 401
CFO Roar Østbø, cell: +47 932 45 175

About Q-Free
Q-Free is a leading global supplier of solutions and products for Road
User Charging and Traffic Surveillance having applications mainly within
electronic toll collection for road financing, congestion charging,
truck-tolling, law enforcement and parking/access control. Q-Free offers
solutions and products based on state of the art technology, and is the
leading supplier within DSRC (tag) - and ANPR (Automatic Number Plate
Recognition) and GNSS (Global Navigation Satellite System) based
solutions, with deliveries in Europe, Asia-Pacific, Middle East and
North- and South America. The company has appr. 300 employees in 11
locations and representatives in 7 other countries. Headquarter is based
in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with
the ticker QFR.
http://www.q-free.com