PRESS RELEASE  
Oslo, 10 October 2003  

Norman ASA had net revenues of NOK 63 million in the third quarter. This is an increase of 10% compared with the third quarter 2002. EBITDA for Norman for the quarter was NOK 14 million (2002: NOK 12 million), a margin of 22% (2002: 22%), and the pre-tax profit was NOK 12 million (2002: NOK 9 million), a margin of 18% (2002: 16%).

"We are satisfied that we have good growth and a significantly improved result compared with the first half of this year", says President and CEO, Henning Hansen. "In a market that is subject to intense competition, we are happy to be able to deliver organic growth of 21% within the virus control business unit in the third quarter, a quarter which is seasonally the weakest quarter of the year".

Virus control with 40% organic growth in Europe

Norman's largest business unit, virus control, had net revenues of NOK 42 million in the third quarter. This is 21% more than for the same period last year. EBITDA for the period was NOK 9 million, a margin of 22%. It is the European countries outside Norway that have contributed most to this growth, and it is expected that this will continue. Growth in Norway was 7% in the third quarter.

Norman continues to invest in its patent-applied technology for protecting against new, unknown viruses - the Norman Sandbox. The company strongly believes that this innovative technology can contribute significantly to combating new, unknown viruses, as it is specially developed to be able to stop unknown viruses without requiring the use of traditional update routines. Norman's technology is amongst the most advanced on the market, and in a third quarter which saw several serious virus attacks, this technology helped to reduce the risk of viruses amongst Norman's customers.

Ibas with increased revenues and an improved EBITDA margin

In the third quarter, Ibas had net revenues of NOK 21 million, which is a growth of over 20% compared to the first and the second quarter 2003. EBITDA for the period was NOK 4 million, a margin of 21%. This is a significant improvement in margin compared to the first half year when the EBITDA margin was 8%.

Bjørn Arne Skogstad began as the new CEO for Ibas on 1st September. His main focus will be to increase future revenue growth and secure continued profitability.

Financial situation and future expectations

During the course of 2003, the company has so far generated cash of NOK 28 million from operational activities. Allowing for the purchase of own shares for NOK 6 million, the company increased its cash balances by NOK 13 million in the third quarter 2003 to NOK 84 million.

The company will continue its strong focus on profitability and expects continued good profitability and a continuing positive cash flow in 2003.

Enclosed is a summary of the preliminary financial statements for the 3rd quarter 2003. For further information, contact Svein Ramsay Goli, Chairman of the Board (mobile + 47 907 56 757) or Henning Hansen, President & CEO, (office + 47 67 10 97 17; mobile + 47 908 81 192) / www.norman.com