Private placement completed

Reference is made to the stock exchange notice dated 
12 January 2011 regarding a contemplated private 
placement in Nio Security, Inc. ("Nio" or 
the "Company"). 

The private placement as been completed and a total 
of 6,000,000 shares have been allocated, at a 
subscription price of NOK 2.50 per share. The total 
gross proceeds from the private placement equal NOK 
15,000,000. The proceeds from the Private Placement 
will be used for general corporate purposes, 
including service of shareholder loans. 

The share capital increase was resolved by the Board 
of Directors within the authorized shares of the 
Company. The share capital is increased by USD 
600,000 by the issue of 6,000,000 new shares. 
Following the completion of the private placement 
Nio's share capital is USD 4,547,804, divided into 
45,478,041 shares with a nominal value of USD 0.1 per 
share.

The  subscribers in the private placement will 
receive existing shares in the Company that are 
already listed on the Oslo Stock Exchange, pursuant  
to a share lending agreement entered into between ABG 
Sundal Collier Norge ASA,  Nio Security, Inc. and 
Lars Moldestad, the Company's largest shareholder. 
The shares delivered to the subscribers will thus be 
tradable according to the trade date on the contract 
notes to be issued for the allocated shares. 

The new shares issued in connection with the private 
placement will be re-delivered to Lars Moldestad 
following completion of the share capital increase to 
settle the share lending agreement described above. 
The new shares will however be held separate from 
Nio's already listed shares, and will not be listed 
on Oslo Børs until a listing prospectus has been 
approved by Finanstilsynet / Oslo Børs. 

The Board of Directors of Nio has resolved to 
complete a subsequent offering of up to 3 million 
additional shares, whereby shareholders as per 12 
January 2011 that were not allocated shares in the 
completed private placement, will be able to apply 
for shares at NOK 2.50 per share, equal to the 
subscription price in the completed private 
placement. The shares in Nio will therefore trade 
excluding the right to participate in the subsequent 
offering today, 13 January 2011.

The Company is pleased with the private placement and 
in particular with the new institutions that 
participated in the transaction.

The private placement was managed by ABG Sundal 
Collier.

For further information, please contact:
Espen Brodin, Chairman & CEO, +47 920 44 558 or 
Tore Formo, CFO, +47 916 68 678.