Ericsson presents cash offer to acquire TANDBERG Television

February, 2007 – Ericsson have announced they are to pose a voluntary public cash offer to acquire Tandberg Television.

According to Ericsson, upon completion of this transaction, Tandberg Television will become a wholly owned subsidiary of Ericsson. The acquisition will be conducted by means of a public voluntary cash offer for all of the 80,529,876 outstanding shares in Tandberg Television, which values all the outstanding shares to NOK 8.5 b.

Carl-Henric Svanberg, president and CEO, Ericsson, says: "IPTV for cable and telecom operators is the biggest networked multimedia opportunity going forward. Ericsson and Tandberg Television is a strong combination with a unique ability to offer complete IPTV solutions."

TANDBERG Television has responded to Ericsson’s announcement by releasing a statement that the Board of Directors, upon receipt of the offer document from Ericsson, will review its terms and conditions, with the assistance of its financial and legal advisors, and will then provide the TANDBERG Television shareholders with a recommendation. Until such time, TANDBERG has announced that it will make no further comment on the announcement by Ericsson.