Q-FREE - CONTRACT IN PORTUGAL - 154 MNOK

Q-FREE - CONTRACT IN PORTUGAL - 154 MNOK 

Q-Free has today received an order from the Portuguese road operator
Ascendi, for a major infrastructure project in Portugal. The order value
is approximately 154 MNOK. This contract follows a successful
implementation of a similar tolling system during 2009 for the same
client.

The contract comprises supply of Multilane Free Flow tolling stations
and operational back office for the concessions Beiras Litoral e Alta
and Interior Norte.

Ascendi currently operates 7 concessions and is responsible for more
than 1300 km of motorways and roads in Portugal.

"The Portuguese market continues to be important for the company, and we
are specifically pleased that we once again have been selected as
Ascendi's partner for advanced fully automated tolling systems", CEO in
Q-Free Øyvind Isaksen comments.

The project execution will start immediately.

Q-Free has a subsidiary in Lisbon, Portugal.

Trondheim  24 January 2011

 

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 ALPR (Automatic License Plate
Registration) 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