Photocure ASA - Allotted Share Options

Oslo, Norway, March 18, 2010

Photocure has a total of 941,893 employee options outstanding as of 17.03.2010.

The Board of Directors decided a conditional allotment of 550,000 share options for 2010. The subscription rights can only be exercised if certain goals for 2010 are achieved. Strike price for the options is NOK 44.00 per share, corresponding to the market price on March 17, 2010. Of these subscription rights, the following amount was allotted to the management team:

• Kjetil Hestdal, President and CEO: 50,000
• Christian Fekete, CFO:30,000
• Inger Ferner Heglund, VP R&D: 30,000
• Grete Hogstad, VP Marketing and Sales: 30,000

For further information, contact:                                                  

Christian Fekete (CFO)

Email: cf@photocure.no

Telephone: +47 22 06 22 10

Mobile: +47 916 42 938