Roxar ASA; Engagement Of Financial Advisors

On Wednesday 12 November 2008 the Board resolved to grant the Chairman of the Board and the Management of the Company a mandate to engage a financial advisor.

On this basis, the Company has today retained financial advisors. Arctic Securities ASA will act as lead advisor and be complemented by Astrup and Partners AS as co-advisor. The financial advisors will assist the Company in evaluating strategic alternatives on behalf of all shareholders.

For further information please contact:

Even Gjesdal CFO Roxar ASA + 47 97 78 90 70

Petter Bakken Arctic Securities ASA + 47 48 40 31 02

Arne Wenger Arctic Securities ASA + 47 48 40 31 16

Erling Astrup Astrup and Partners AS + 47 97 98 45 00

Roxar ASA is an international technology solutions provider to the upstream oil and gas industry. The company creates value for its customers with innovative and professionally delivered solutions that increase performance from oil and gas reservoirs and allow the operator to make better decisions with the maximum amount of information. For further information, please visit http://www.roxar.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Roxar ASA

http://www.roxar.com

ISIN: NO0003073801

Stock Identifier: XOSL.ROX