Lysaker, 21 March 2001   

Norwegian data security company Ibas, a wholly-owned subsidiary of Norman ASA, has ended merger negotiations today with Britain's Vogon International Ltd. The companies continue as independent competitors in the European data recovery market.

The two sides have completed a due diligence process and pursued talks on the ownership structure and future strategy of a merged company. At the initiative of Ibas, these discussions have been abandoned.

This decision are caused by the findings of the due diligence process and the fact that the expected synergies for technological development and marketing could not be attained.

Ibas is a considerable market player for data recovery, data erasure and computer forensics, and will now continue expanding in all three of its business areas, both in Europe and in possible new markets - either alone or in partnership with other players.

The company will build further on its own expertise in computer forensics, where it has already pursued several major projects during 2001. This area involves securing and documenting electronic evidence in a computer for such clients as the police, public prosecutors, lawyers, government agencies or private companies. Ibas will assist in seizure of data, investigate data storage media and act as an expert witness in legal disputes. "Norman's strategy to develop the company's values within its three business areas; virus control, security solutions and Ibas, will not be altered by the solution to end the merger negotiations. Norman want to lay the basis for finding new solutions which can help to strengthen Norman's and Ibas's competitiveness even further in the international market for data security," says Norman managing director Bjørn Fosli.

"Our strategy of further growth in Europe remains unchanged," says Ibas managing director Arve Saghaug. "We will also be open to discussion with partners who can offer the synergies we're looking for in technology and marketing in new areas."

Ibas's turnover of 2000 was NOK 50 million with a operating profit of NOK 6 million. The company has 54 employees.

For additional information, please contact:

Ibas AS, Managing director Arve Saghaug, phone: (+47) 62 81 01 00, mobile: (+47) 92 88 27 44 Ibas AS, Chairman Arne Dalslaaen, mobilephone: (+47) 92 01 70 99 Norman ASA, Managing director Bjørn Fosli, phone: (+47) 67 10 97 00, mobile: (+47) 90 51 84 68

Facts about Ibas AS

The data security company Ibas, established in 1978, is one of the world's leading companies in Data Recovery, Data Erasure and Computer Forensics. The Group's Head Office is located in Kongsvinger, Norway, with subsidiaries and distributors in Europe and Asia. Ibas is a subsidiary of Norman ASA.