04.12.07 - Other

IOT Holding ASA has on the 04 December 2007 extended a forward contract of 7.300.000 shares in Petrojack ASA.

New delivery date is 03.03.2008.

After the above mentioned transaction IOT Holding ASA controls 10.443.569 shares in Petrojack ASA, equal to 16,07 per cent of the shares outstanding.

Bergen/Stavanger , 04 December 2007