Eltek ASA (OSL:ELT) - Listing Of Securities

Eltek ASA (OSL:ELT) Reference is made to the press-releases dated 8 December and 23 December 2008 regarding the completed Private Placement and the Subsequent Offering in Eltek ASA ("Eltek" or the "Company").

Eltek has prepared a prospectus dated 30 December 2008 (the "Prospectus") in connection with the listing of 250,000,000 new shares issued in the Private Placement on 5 December 2008 (the "New Shares") and the subsequent offering and listing of up to 30,000,000 new shares in the Subsequent Offering (the "Subsequent Offering Shares") in Eltek on Oslo Børs.

The New Shares issued in the Private Placement, each with a nominal value of NOK 1 at a subscription price of NOK 1 per share, raised total gross proceeds of NOK 250 million. The Subsequent Offering Shares to be issued in the Subsequent Offering will raise a total gross proceed of up to NOK 30 million.

The 250,000,000 New Shares issued in the Private Placement has since its issuance been registered on a separate ISIN. From and including today, 30 December 2008, these shares will be fully tradable on Oslo Børs.

The subscription period for the Subsequent Offering will be from 7 January to 21 January 2009. Subscription rights will be registered on the VPS accounts of the shareholders of the Company as of 5 December 2008, who were not offered or invited to participate in the private placement (the "Eligible Shareholders") on or about 5 January 2009. For full details regarding the Subsequent Offering, reference is made to the press-releases dated 23 December 2008 and the Prospectus to be distributed to the Eligible Shareholders in early January 2009.

SEB Enskilda AS has been engaged as manager for the Subsequent Offering.

The Prospectus will be available at the Manager's web-site: www.sebenskilda.no.

For further information, please contact

Jan T. Jørgensen, CEO, +47 918 37 759 Pål Skistad, CFO, tel. +47 908 50 378

Important Notices

The contents of this announcement have been prepared by and are the sole responsibility of Eltek. SEB Enskilda AS is acting exclusively for Eltek and no one else and will not be responsible to anyone other than Eltek for providing the protections afforded to their respective clients, or for advice in relation to the contemplated private placement and possible subsequent offering, the contents of this announcement or any of the matters referred to herein.

The distribution of this announcement and other information in connection with the subsequent offering may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

This announcement may not be used for, or in connection with, and does not constitute, any offer to sell, or an invitation to purchase, any securities. The subsequent offering will not be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful.

This announcement is not an offer to sell or the solicitation of any offer to buy any Eltek shares or other securities of Eltek (the `Securities`) in the United States or in any other jurisdiction. The Securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the `Securities Act`), and may not be offered or sold in the United States unless registered under the Securities Act or an exemption from such registration is available. Eltek will not make a public offering of Securities in the United States in connection with the subsequent offering.

The Eltek shares have not been and will not be registered under the applicable securities laws of Australia, Canada or Japan and may not be offered or sold within Australia, Canada or Japan.

In the United Kingdom, this announcement is directed only at persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the `Financial Promotion Order`), (ii) are persons falling within Article 49(2)(a) to (d) (`high net worth companies, unincorporated associations etc`) of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated. This announcement is directed only at such persons and must not be acted on or relied on by persons in the United Kingdom who are not such persons. Any investment or investment activity to which this announcement relates is available in the United Kingdom only to such persons and will be engaged in only with such persons and no other persons in the United Kingdom should rely or act upon this announcement.

All investment is subject to risk. The value of the Eltek shares may go down as well as up. Past performance is no guarantee of future returns. Potential investors are advised to seek expert financial advice before making any investment decision.

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



LINK: http://hugin.info/86881/R/1279918/285911.pdf

Eltek ASA

http://www.eltek.com

ISIN: NO0003109407

Stock Identifier: XOSL.ELT
US: Other OTC: EEKAF.PK