05.01.07 - Placement

Reference is made to IOT Holding ASA’s (“IOT”) announcement dated 4 January 2007 regarding a possible private placement.

IOT has on 4 January 2007 completed a private placement of a total of 73,000,000 new shares, an increase of 31.3%, at a subscription price of NOK 2.70 per share. The gross proceeds from the private placement amounts to NOK 197,100,000.

The proceeds from the planned private placement will enable IOT to further expand its investment activities within the following segments: (i) oil services, (ii) oil, and (iii) other.

Upon registration of the new shares issued in the private placement, IOT’s share capital will amount to NOK 7,650,153.65 – corresponding to 306,006,146 shares, each with a par value of NOK 0.025.

The private placement was managed by ABG Sundal Collier.

IOT Holding ASA

Board of Directors

5 January 2007

For further information, please contact

Erik Solheim, Chairman of the Board of Directors: tel: +47 91 15 20 31