Change Of CEO In Eltek Valere

Drammen, Norway, Jan 11, 2008 - (Hugin via ABN Newswire) - Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------



Mr. Andrew Marsh will step down from his position as CEO in Eltek Valere. CEO Morten F. Angelil in Eltek ASA has been appointed acting CEO, and the company will immediately begin the work to find a permanent successor.

Andy Marsh was one of the founders of Valere Power and was appointed CEO of Eltek Valere following the acquisition of Valere Power by Eltek Energy AS in 2007. Whereas the Board of Directors of Eltek Valere recognizes Mr. Marsh's achievement in building Valere Power and his contribution in the integration of the two companies, the Board believes that new leadership would serve the company best in its next phase.

Eltek Valere will seek to attract candidates with experience from both the power supply industry and from listed companies.

Eltek Valere is a 90.9 percent owned subsidiary of Eltek ASA, and was formed after the acquisition of Valere Power by Eltek ASA's subsidiary Eltek Energy in 2007.

For more information, please contact; CEO Eltek ASA, Morten F. Angelil, tel: +47 3220 3333 CFO Eltek ASA, Pål Skistad, tel: +47 3220 3234

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Eltek ASA PO Box 2340 Strømsø Drammen Norway

ISIN: NO0003109407; ;

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Eltek ASA

http://www.eltek.com

ISIN: NO0003109407

Stock Identifier: OSE.ELT

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