Consolidation in data recovery market in Europe:

Data security company Ibas, a wholly owned subsidiary of Norman ASA, has signed a letter of intent regarding a merger with British Vogon International Ltd. Ibas and Vogon are currently two of the leading companies in Europe within data recovery.

After the merger the new company will be a market leader in the European data recovery market. In addition to this both companies have complementing product areas, which are considered to be very interesting growth areas. Ibas has developed a secure data erasure concept, while Vogon specialises in computer forensics, which involves services and products that provide legally valid analysis and documentation of computer data, e.g. in the event of a criminal act

Bjørn Fosli, President and CEO in Norman ASA says that: "Consolidation of the companies is part of Norman's strategy to develop and demonstrate the inherent values of the three business areas; virus control, security solutions and data recovery. The merger will also help to strengthen Ibas' competitive edge in the international data recovery market."

Vogon is leader in the UK market, while Ibas has a similar position in the Nordic countries. And In addition Ibas has subsidiaries in Sweden, Denmark, Finland, Germany and the UK, while Vogon is represented in the UK, Germany and the US.

Arve Saghaug, Managing Director of Ibas says that: "a merger of the two companies is expected to give considerable synergy effects in market development within Europe and Asia as well as in sales/marketing and R&D."

The merger will be effected in that Ibas takes over all the shares in Vogon, while the current owners in Vogon receive newly issued shares in Ibas as compensation. The relative value of the two companies will be determined through a mutual due diligence and valuation process. The value of each company is expected to be approx. 45-55 % of the total value. The aim is that a final agreement will be signed no later than February 1, 2001.

Vogon International Ltd's anticipated turnover this year is approx. NOK 55 mill with an operating profit of approx. NOK 5 mill. Equivalent figures for Ibas are anticipated to be a turnover of approx. NOK 50 mill with an operating profit of approx. NOK 6 mill. Together the companies have 100 employees.

Arve Saghaug, Managing Director of Ibas, will head the new company, while Gordon Stevenson, current head of Vogon, will be deputy managing director and in charge of the technical division. The company's head office will be located in Kongsvinger, Norway. The aim is to list the new company on the stock exchange within 2-3 years.

For further information, please contact:

Arve Saghaug, man. dir. Ibas AS, telephone: +47-62-81-01-00, mobile: +47-92-88-27-44, e-mail: arve.saghaug@ibas.no

Arne Dalslaaen, chairman of the board in Ibas, telephone: +47-67-53-87-40, mobile: +47-92-01-70-99, e-mail: arne.dalslaaen@pclan.no

About Ibas

Ibas was established in 1978, Ibas is one of the world's leading companies in Data Recovery and Data Erasure. The Group's Head Office is located in Norway, with subsidiaries and distributors operating in Europe and Asia. Ibas is a company in the Norman Group.

About Vogon International Ltd

Vogon is a British company, founded in 1985, that operates in the UK, Germany and the USA and enjoys a worldwide client base. In 1997, Vogon acquired the hard disk and forensics group of a UK company, AuthenTec International. Vogon is now a world leader in data recovery from hard disk, tape, optical and other storage media, and also offers the most comprehensive data conversion service anywhere, worldwide. Over the past seven years, Vogon has been developing forensic products and services and is now the expert in the field of forensic computing.