THIN - Private placement subscribed 3.5 times

Reference is made to the announcement by Thin Film Electronics ASA ("Thinfilm") dated 30 September 2010, regarding a private placement for a total of between 10,000,000 and 23,314,000 new shares.

The subscription period for the private placement closed on 1 October 2010, and Thinfilm is pleased to announce a successful placement whereby Thinfilm has resolved to issue 23,314,000 new shares. The subscription price was NOK 0.80 per share, such that the gross proceeds amount to NOK 18.7 million. Including the two proposed warrants issued to each share subscribed, the potential gross proceeds are NOK 62.9 million.

Thinfilm received subscriptions for 81.2 million shares; the placement was subscribed 3.5 times. Notices of allocation will be sent Monday 4 October 2010. The payment deadline is 12 October 2010 and the shares will be issued as soon as practical following the registration of the share capital increase.

Following consummation of the private placement, Thinfilm's share capital will be increased to NOK 28,528,062.64 consisting of 259,346,024 shares outstanding, each with a par value of NOK 0.11.

2 October 2010
Thin Film Electronics ASA

For further information, please contact:
Geir Harald Aase, VP of Communications and IR, +47 480 37 571, geir.aase (at)
thinfilm.no

About Thinfilm and Printed Electronics
Thin Film Electronics ASA ("Thinfilm") is a Norwegian technology company with its head office located in Oslo and product development activities in Linköping, Sweden. Thinfilm is focused on providing low-power, non-volatile, rewritable polymer memory technology and products in the rapidly growing market of Printed Electronics. Thinfilm's current main product offering is a 20-bit non-volatile rewriteable memory printed in a high-volume roll-to-roll process.

Thinfilm is listed on the Oslo Axess marketplace at the Oslo Børs (Oslo Stock Exchange) with ticker code THIN:
* Oslo Axess: http://www.osloaxess.no/markedsaktivitet/stockOverview?newt__ticker=THIN
* Thinfilm's website: http://www.thinfilm.no

The Printed Electronics market is still in its early stages, and according to industry analyst group IDTechEx, is expected to grow to more than USD 50 billion in market value over the next ten years. IDTechEx predicts that logic (i.e., memory and transistors) will be the largest segment in this market, representing more than 30 per cent of the total.

Using printing to manufacture electronic memory makes it possible to reduce the number of process steps, dramatically reduce manufacturing costs, as well as the environmental impact as compared to traditional semiconductor processes. Commercial applications of printed electronics include e-paper, electronic readers, and organic light emitting (OLED) displays. Sensors, batteries, and photovoltaic energy sources are also in development, and together with Thinfilm's memory technology they will open the door to new products and applications.

Memory is an essential part of most electronics. Memory is required for identification, tracking status and history, and is used whenever information is stored. Thinfilm's non-volatile ferroelectric polymer memory technology is well suited for application with other printed electronics devices because power consumption during read and write is negligible, and as it is permanent, no connection to external power is required for data detainment. Also, the current required to write information is so small that operation would be limited by the battery's lifetime and not its capacity.