Nera Networks wins USD 9 million contract with major South American operator

Nera Networks has entered into an agreement with a major telecom operator in South America for the delivery of a microwave solution of more than 350 hops.  Nera Networks' Evolution Series (TM) microwave radios will be at the core of the solution, and in addition Nera Networks will provide engineering, installation and commissioning. The value is estimated at USD 9 million (NOK 58 million). Deliveries will start at the beginning of third quarter 2010, and the contract is an extension of an agreement signed earlier this year. "We have over several years managed to establish a strong customer relationship with the leading telecom operators in the region. Continuously being awarded network expansions illustrates the value of continuous performance and close local working relations over time", states Per Arne Henæs, CEO of Nera Networks. The Americas accounted for approximately 50 percent of revenue in Nera Networks in 2009 and in the first quarter 2010. For further information, please contact: Eltek ASA CFO Pål Skistad: +47 908 50 378 Eltek is a strategic technology partner within power solutions and microwave radio transmission, through its three business units Eltek Valere, Nera Networks and Nera Telecommunications. The company reported revenue of NOK 5.8 billion in 2009, and had close to 3,330 employees in more than 50 countries at the end of the year. Eltek is listed on Oslo Stock Exchange and headquartered in Drammen, Norway. Nera Networks designs, develops, manufactures and markets a broad portfolio of point-to-point microwave transmission radios under the Evolution brand name. The company has extensive systems and project management expertise for turn-key deliveries and after sales support and services. Headquartered in Bergen, Norway, the company counts approximately 800 employees and reported revenue of more than NOK 1.8 billion in 2009. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) [HUG#1428426] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction for further distribution is prohibited. Source: Eltek ASA via Thomson Reuters ONE