New Chief Financial Officer (CFO)

08.11.2007

I am pleased to welcome Mr Terje Clausen to the EMG Technology team. He has as of 1st of October joined us in the position as Chief Financial Officer (CFO).

Terje Clausen (41) lives in Tønsberg, is married and has two daughters in the age of 5 and 9.

He comes from the position of CFO in Nordisk Aviation Products, a Norsk Hydro company producing airline pallets and containers. Nordisk has factories in Norway and China and is represented world-wide. Prior to this he has worked in Elopak, as a Norwegian owned packaging company, as Finance Manager.

Terje holds a bachelor degree in economics and an MBA from RSM Erasmus University in The Netherlands.

Terje will in addition to his industrial and financial background, also bring international and operational experience into our team and we look forward to working together in supporting the continued success of our group.

Jon Knutsen