Opera

The annual general meeting of Opera Software ASA was held on June 15, 2006. All proposals in the notice dated May 30, 2006, apart from the grant of options to the new members of the Board as further described below, were unanimously approved by the general meeting.

The following were elected as a board of directors of the company:

• Nils A. Foldal, Chairman
• John Patrick
• Michael Tetzschner
• Grace Reksten Skaugen
• Håkon Wium Lie
• Ole Peter Lorentzen
• William J. Raduchel

In addition, Live Leer and Snorre Grimsby are currently represented at the board of directors as employee representatives. There will be held a new election of three employees elected representatives within a short time.

The general meeting, against the vote of shareholders representing 8.945.119 shares, approved the grant of 150.000 options at strike at strike equal to market price on June 15th 2006 (NOK 24,-) to Nils A. Foldal. The options run over four years with 25% being exercisable per year. The first 25% can be exercised in June 2007.

The general meeting, against the vote of shareholders representing 8.945.119 shares, approved the grant of 75.000 options at strike at strike equal to market price on June 15th 2006 (NOK 24,-) to Ole Peter Lorentzen. The options run over four years with 25% being exercisable per year. The first 25% can be exercised in June 2007.

The general meeting, against the vote of shareholders representing 8.945.119 shares, approved the grant of 100.000 options at strike at strike equal to market price on June 15th 2006 (NOK 24,-) to William J. Raduchel. The options run over four years with 25% being exercisable per year. The first 25% can be exercised in June 2007.

The following were elected to the Nomination Committee:

• Kari Stautland
• Lars Esholdt
• Torkild Varran

The board of directors was granted a mandate to increase the share capital by up to NOK 228.000 through the issue of up to 11.400.000 shares of nominal value NOK 0.02 with the authority to waive the pre-emption rights of existing shareholders. This authority is valid until the date of the next Annual General Meeting, but in no event longer than June 30, 2007.

The board of directors was granted an authorization for the company to acquire its own shares with a maximum aggregated par value of up to NOK 228.000, which equals 10% of the share capital and with a maximum aggregated purchase price of MNOK 66.1, which equals the retained earnings in the company. The price per share shall be minimum NOK 0.02 and maximum NOK 50. The shares can be used in connection with acquisitions and incentive schemes for employees and board members. This authority is valid until the date of the next Annual General Meeting, but in no event longer than June 30 2007.