BLOM CONFIRMS ACQUISITION OF SCANROPE HOLDING AS

On 3 July 2006 Blom has acquired all shares in ScanRope Holding AS. The acquisition has developed according to plan and stock exchange
announcements on 19 May 2006 and 15 June 2006.

The consideration for the shares in ScanRope Holding AS, NOK 170 million, consists of 50 % cash and 50 % through a private placement with
the sellers against shares in Blom ASA. 

The Board of Blom ASA has approved an increase of the share capital with NOK 379.564,60 through the issuance of 3 795 646 shares to the selling
shareholders of ScanRope. The newly issued 3 795 646 shares were awarded on an average Blom share end price during the period 19 May 2006 to 14 June 2006 at NOK 22,39. The new issuance represents 11,52 % of the shares in Blom ASA. The cash consideration was financed through Blom`s own cash and a short-term loan from SEB of NOK 75 million.

The prospectus is available at Blom`s head office and on Blom`s website.

ScanRope will be part of Blom Group accounts from 1 July 2006.

ScanRope`s turnover in 2006 is expected to reach NOK 360 million with an EBITDA of NOK 28 million. In 2007 turnover is expected to increase to more than NOK 450 million with an EBITDA of NOK 50 million. Blom is very pleased with how ScanRope is developing. ScanRope has since 19 May 2006 been awarded new orders for NOK 145 million. This development supports Blom`s expectations of increased demand for ScanRope`s products.

The prospectus can be downloaded here