PRIVATE PLACEMENT COMPLETED

Reference is made to the stock exchange notification dated 17 January 2007 regarding the private placement in Blom ASA.

On 17 January 2007, the Blom ASA board ofdirectors approved the issue

of 3.6 million newshares at a subscription price of NOK 36.00 per
share raising gross proceeds of NOK 129.6million. The use of proceeds is

for generalpurposes and supporting continued growth.

In accordance with the proxy established at Blom ASA`s General Meeting

held on 3 May 2006, theBlom board of directors resolved to issue
3,600,000 new shares at a par value of NOK 0.10 per share representing

9.8% of the registeredshare capital. As a result, the share capital of
Blom will increase by NOK 360,000 to a total of NOK 4,033,734.60

corresponding to a total of 40,337,346 shares.

The private placement was managed by Pareto Securities.

Blom is pleased to see that the private placement was oversubscribed.

For further information please contact the CEO,
Mr. Dirk Blaauw, on tel. +47 22 13 19 23 or CFO
Jan Erik Braathen on tel. +47 22 13 19 24.