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Regulatory press release

Otello Corporation ASA - Proposal for a new Board of directors

Otello
Otello Corporation ASA (the "Company") has been requested by the minority group
to publish the following message regarding their proposal for the extraordinary
general meeting.


On behalf of the group of shareholders who requested a general meeting to elect
a new board of directors, we propose:

1. Shahzad Abid
2. Silje Augustson
3. Frank Blaker

as new board of directors of Otello Corporation ASA. The board is elected for a
term of two years, in line with §5 of the company statutes.

CVs of the proposed candidates have been distributed to the nomination committee
of Otello Corporation.

On behalf of the group of shareholders,

Svend Egil Larsen
Selaco AS
+47 99219880
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