Oslo/Calgary, 8 July 2005. Artumas group Inc., announces that stabilization activities may occure. The Stabilisation Manager - ABG Sundal Collier Norge ASA - may effect transactions with a view to stabilising the market price of the Company`s shares at a level higher than what
might otherwise prevail. However, there is no obligation on the Stabilisation Manager to do so. Stabilisation may be stopped at any time. Stabilisation transactions may be undertaken from the opening of trading on Oslo Børs as of 08.07.2005 until the end of trading on 05.08.2005 (Stabilisation Period).
In connection with the Offering the Stabilisation Manager has over-allotted to the applicants a number of Shares which equals up to 14 per cent of the number of Offer Shares as determined following determination of the Offer Price.
The Company have granted the Manager a Greenshoe Option pursuant to which the Manager may purchase up to 1,000,000 shares in the Company at a price equal to the final Offering Price in the Offering. The Greenshoe Option may be used only for the purpose of closing out any short
positions created through over allotments, if any, made in connection with the Offering. The Greenshoe Option may be exercised on one or more occasions at any time during the Stabilisation Period. Any exercise of the Greenshoe Option will be promptly announced by the Stabilisation Manager through the information system of Oslo Børs.
Any stabilization activities will be conducted in accordance with the Commission Regulation (EC) No 2273/2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilization of financial instruments.
For further details see Section 2.13 in the Prospectus.