Tandberg Data

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Press Release

TAD - Tandberg Data ASA, bond issue with pre-emptive rights

Oslo Norway, (January 17, 2007): Reference is made to the stock exchange notice sent on 30 October 2005 regarding the issue of the NOK 130 million first tranche of the new 5 year senior unsecured convertible bond loan (the Convertible Bond Loan) with a fixed coupon of 9.00% and a total borrowing limit of NOK 155 million

Tandberg Data ASA has of today announced the subscription period for the second tranche of the Convertible Bond Loan with pre-emptive rights for shareholders as of 15 November 2006. The Subscription period will run from 17 to 31 January 2007 at 16:30 CET. The prospectus is made public at the start of the subscription period.

On 15 November 2006 the general meeting of Tandberg Data ASA resolved to issue a the second tranche of the Convertible Bond Loan of between NOK 0 and NOK 25,000,000, equivalent to up to 25,000 bonds, with pre-emptive rights. In accordance with the resolution the subscription period will be two weeks and the Board�s deadline for the establishment of the subscription period is 31 January 2007. Upon conversion a price of NOK 7 shall be paid per share, each share with par value of NOK 2.20. A claim for conversion can be made at any time during the term of the loan, and for all or parts of the loan, and on different occasions, however it must be made at the latest 10 business days prior to 8 November 2011.

The settlement date for the second tranche of the Convertible Bond Loan is on or about 12 November 2007. Pareto Securities ASA is manager for the Convertible Bond Loan.

For further information please contact:
Gudmundur Einarsson
Chief Executive Officer
Tandberg Data
Tel.: + 47 2218 9090
Email: gudmundur.einarsson(at)tandbergdata.com

Live Haukvik Aker
Chief Financial Officer
Tandberg Data
Tel.: + 47 2218 9495
Email: live.aker(at)tandbergdata.com

About Tandberg Data

Tandberg Data is a leading global supplier of backup and archiving technologies. Tandberg Data offers of a complete range of tape libraries, tape autoloaders and tape drives (based on the LTO, SLR™, VXA and DLTtape tape technology platforms), storage software, data media and disk-based storage such as the RDX QuikStor™. These solutions are marketed exclusively through a channel of qualified resellers and distributors.

These solutions are underpinned by OEM agreements with major server manufacturers including IBM, Hitachi, Fujitsu, Fujitsu-Siemens, Apple and Dell and supported by all major operating systems and storage software applications to operate in heterogeneous network environments. All solutions are designed to meet the growing storage requirements of small and medium-sized organisations with scalability, reliability and backward compatibility features that ensure cost effective operation and long-term investment protection.

In addition to corporate offices in Oslo, Norway, TANDBERG DATA ASA has subsidiaries in the USA, France, Germany, the United Kingdom, Japan and Singapore, as well as branch offices in Italy, India, and China (PRC) Thailand and Brazil. TANDBERG DATA ASA is a publicly held company based in Oslo, Norway and is traded on the Oslo Stock Exchange (ticker=TAD).

RDX QuikStor, BAKStor, and SLR are trademarks of Tandberg Data ASA. RDX is a registered trademark of ProStor Systems, Inc. DLT, DLTtape, DLT, SDLT and Super DLTtape are registered trademarks of Quantum Corporation. LTO is a trademark of HP, IBM and Seagate. All other trademarks are the property of their respective owners.


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