FARA ASA has entered into a Market Making Agreement with Orion Securities AS for the company`s shares. The purpose of the agreement is to increase the liquidity of the shares of the company, which is listed on Oslo Stock Exchange. The Agreement is in accordance with the standard requirements of Oslo Stock Exchange. The Market Making Agreement will take effect as of 1 January 2010.

For further information:
Ørjan Kirkefjord, CFO
tel +47 950 84 730
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FARA ASA, the leading supplier of IT solutions to the public transport sector in the Nordic countries, has signed an agreement with Vestviken, which operates the county of Telemark and Vestfold in Norway. The project comprises an upgrade of the existing FARA ticketing solution onboard 130 buses operating in Telemark. The contract is valued at approximately MNOK 6.5, in addition to expected service and maintenance agreements as well as an option of additional services related to the upgrade project.

"It is of great value that yet another Norwegian county chooses FARA when upgrading the existing ticketing solution in order to meet the needs and expectations of tomorrow. We are pleased to continue the cooperation with Vestviken - now welcoming Telemark onboard with the same technological platform - as a valued partner in developing additional functionality and solutions going
forward", says Ørjan kirkefjord, CFO of FARA ASA.

The agreement covers an upgrade of the existing ticketing solution delivered from FARA and represents a continuation of the cooperation between Vestviken and FARA. The main project covering approximately 130 buses comprises an upgrade of the existing ticketing solution making benefit of FARA's module based technology.

"It is a great acknowledgement for us to be accepted by professional customers across our markets, such as Vestviken and the county of Telemark, which proves that FARA's leading technology is generic and adaptable to local needs all over Europe. This creates benefits both for the customers and FARA as the customer base on FARA's newest ticketing solution platform continues to increase", says Øivind Kirksæter CEO of FARA ASA.
 

For more information, please contact:
Øivind Kirksæter, CEO of FARA, mobile               +47 97 70 79 90
Ørjan Kirkefjord, CFO of FARA, mobile               +47 95 08 47 30

FARA ASA, the leading supplier of IT solutions to the public transport sector in the Nordic countries, has today received an order from Nordjyllands Trafikselskab, which operates in the North Denmark Region. The initial agreed project comprises upgrades of the Real Time Information (RTI) and Infotainment systems onboard buses operating in this northern region of Denmark. The initial contract is valued at approximately MNOK 5. The parties have also agreed on an outline for several related project phases with a calculated additional value of MNOK 5 which are expected to be finally determined during first quarter 2010.

The expected projects could cover as much as 300 FARA VPC's including hardware units and licences in addition to services and configuration related to the installations.

"Today's agreement covers upgrades of the existing RTI and Infotainment systems representing a continuation of the cooperation between Nordjyllands Trafikselskab and FARA. The initial project covers hardware as well as FARA's module based technology introducing new and required features for the drivers and passengers to be delivered first half year 2010" says Øivind Kirksæter, CEO of FARA ASA.

Headquartered in Aalborg, Nordjyllands Trafikselskab operates throughout the North Denmark Region which is one of five regions in Denmark. The region covers 11 municipalities and has a population of almost 600 000 people.

"Nordjyllands Trafikselskab place these upgrade orders following a successful pilot installation of FARA's solutions for Real Time Information and Infotainment. It is of great value that our customers get to know our technology and solutions well before choosing their partner for the future. At the same time, we register that our increased focus on sales and customer contact is paying off as the customers are overall satisfied with the functionality following implementation of FARA's solutions" says Ørjan Kirkefjord, CFO of FARA ASA.

For more information, please contact:
Øivind Kirksæter, CEO of FARA, mobile  +47 97 70 79 90  
Ørjan Kirkefjord, CFO of FARA, mobile   +47 95 08 47 30

Senior Vice President Infotainment Jan Tore Endresen is allocated 300.000 options and after this allocation has 300.000 options and 0 shares.The options have a maturity over 36 months and a fixed striking price of NOK 2 per share. The options can be released in parcels throughout the period to 01.07.2012.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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