Norner Mimir Inauguration Party New Delhi, 21/10/2011

PRESS RELEASE

Norner AS, a specialised, fully independent innovation and technology partner for companies in the plastics value chain, has opened its fist overseas subsidiary in India. The new company is catering to the Indian market and is named Norner Mimir India Private Limited. Norner has selected New Delhi as the base for Norner Mimir due to the strong support of Innovation Norway and the good connectivity to Norway. Norner recently celebrated the opening of their Indian operation by throwing a great party at the Royal Norwegian Embassy lawn on 21st of October. The invitee lists included many prominent guests from the Indian Petrochemical and Plastics fraternity. This was in line with Norners target industry and expertise which cover the value chain from catalysts synthesis and gas conversion to end use of plastics. Norner delivers profit enhancement projects to the petrochemical industry like catalyst development and polymerisation, development of value added products, additive expertise and certified testing. Also the polymer processing industry and brand owners benefit from Norners 4000sqm laboratories, full scale application hall, and a staff of 70 highly qualified experts carrying on average more than 20 years experience from this business. The ceremony was inaugurated by the Norwegian Ambassador to India Mrs. Ann Ollestad and she welcomed the guests and wished Norner Mimir great luck. The lamp lighting ceremony was performed by the Ambassador, Dr. Kapur, Chief Research Manager Petrochemicals & Polymers, Indian Oil, CEO of Norner AS, Dr. (Mrs.) Tine Rrvik, and Mr. Lars H. Evensen who is the Managing Director for Norner Mimir. Dr.Tine Rrvik, who was the main driving force behind opening of the subsidiary, was greatly satisfied by the developments so far and is very optimistic about the growing Indian market. IOCL, who has recently signed an R&D agreement with Norner, was represented by key persons in their R&D and team. Dr. Kapur gave an extensive presentation on the plans of IOCL, highlighting the association with Norner. Mr. Lars H. Evensen rounded off the official part of the program by presenting some of Norners value propositions to Indias fast growing plastics consumption. Norner Mimir will operate from Statesman House at CP, New Delhi and the team consists of three members with diverse experience in the polymer value chain. The operation is being headed by Mr. Ashutosh Gupta and the other team members are Dr. Shailendra Solanky and Mr. Rajish Raghu.

Best regards Lars H. Evensen Managing Director

Registered Office: Norner Mimir India Pvt. Ltd. B-376, Third Floor Nirman Vihar New Delhi 110 092

Head Office: Norner Mimir India Pvt. Ltd. 405, Fourth Floor, Statesman House Barakhamba Road, Connaught Place New Delhi 110 001

Telephone: Fax: Web: Corp. Id. No.:

+91 11 3044 6475 +91 11 3044 6500 www.norner.no U74900DL2011FTC214271