Q-FREE ASA - RESULT FOR THIRD QUARTER 2010

"The result for the quarter is highly influenced by the scope changes
for the Slovakia project, and as such this quarter is highly
extraordinary", says CEO Øyvind Isaksen.

Highlights:

· Revenues 67.8 MNOK.

· Operating profit (EBIT) -115.0 MNOK, -169.4 % margin

· Pretax profit -110.2 MNOK, -162.4 % margin

· Cash flow position weakened, but expected to improve in the coming
quarters

· Order intake 96 MNOK

· Order backlog 467 MNOK

Isaksen comments further," The important thing now is to focus on all
the exiting opportunities ahead of us. Taken into consideration the
global market trends and Q-Free position, I am convinced that the
company will experience a long term positive development."

Enclosures: Quarterly report and presentation

Trondheim, 20 October 2010

For further information, please contact:

CEO Øyvind Isaksen, cell: 47 905 59 401

CFO Roar Østbø, cell: 47 932 45 175