Voluntary cash offer - 96,3% acceptance 

Reference is made to Visma AS' voluntary cash offer for all the shares in Mamut ASA at NOK 11.50 per share as set out in the offer document of 17 June 2011.

Oslo, 5 July 2011 - Reference is made to Visma AS' ("Visma") voluntary cash offer (the "Offer") for all the shares in Mamut ASA ("Mamut") at NOK 11.50 per share as set out in the offer document of 17 June 2011 (the "Offer Document") 

At the expiration of the offer period on 4 July 2011, Visma has received acceptances from shareholders holding in aggregate 40,675,500 shares, representing approx. 62.4% of the share capital in Mamut.  In addition, Visma acquired on 4 July 22,084,636 shares, representing approx. 33.9% of the share capital in Mamut for NOK 12.0 per share. As described under Section 3.5 of the Offer Document, all Mamut Shareholders having accepted the Offer will be entitled to receive such Higher Consideration, i.e. NOK 12.0 per share. In total, Visma controls 62,760,136, representing approx. 96.3% of the share capital in Mamut.
All conditions in Section 3.7 of the Offer Document is either satisfied or waived by Visma.
Settlement with the tendering Mamut shareholders under the voluntary offer will be completed within 14 days.

Visma intends to initiate a compulsory acquisition of the remaining shares in Mamut in accordance with section 4-25 of the Norwegian Public Limited Companies Act. 
In addition, Visma will call for an extraordinary general meeting in Mamut and propose that the company decides to apply for a delisting from the Oslo Stock Exchange, effective as soon as possible, as well as electing a new board of directors. 

For further information, please contact:
ABG Sundal Collier Norge ASA
Munkedamsveien 45e
P.O. Box 1444 Vika
N-0115 Oslo
Tel: +47 22 01 60 00
Fax: +47 22 01 60 62