Q-Free has been awarded a letter of intent in Bangkok-61 MNOK

Q-Free has received a letter of intent from the Bangkok Expressway
Company Limited (BECL) for the modernisation of an existing road tolling
system.

Q-Free has received a letter of intent from the Bangkok Expressway
Company Limited (BECL) for the modernisation of an existing road tolling
system. The contract has a value of 61 MNOK. BECL is one of several
expressway operators in the Bangkok region. BECL has among others the
responsibility for the main connection to and from the new international
airport in Bangkok, Suvarnabhumi, which has over 100.000 toll
transactions per day.

`Bangkok represents a growing marked within electronic road pricing.
This is the company`s second contract over a relatively short time
period, and it is expected that more infrastructure projects will be
announced during the year`, CEO Øyvind Isaksen comments. Furthermore
Isaksen states that when infrastructure for electronic road pricing is
built, a large market for On Board Units (tags) will develop.

Final contract award is conditional upon successful contract
negotiations within 30 days.

Associated companies: