PROGRESS RELATED TO THE JAKARTA PROJECT

Reference is made to earlier communicated progress related to the Jakarta project in the Q1 report. The financing is under finalisation, but there are still details to be closed. Outstanding issues is expected to be concluded in relatively near future.

Q-Free will revert with an update on timeline for the implementation of the project as soon as this is in place. 

Trondheim 1st of June 2012

For further information, please contact: 

CEO Øyvind Isaksen, cell: +47 908 76 398
CFO Roar Østbø,cell: +47 932 45 175

About Q-Free

Q-Free is a leading global supplier of solutions and products for Road User Charging and Traffic Surveillance having applications mainly within electronic toll collection for road financing, congestion charging, truck-tolling, law enforcement and parking/access control. Q-Free offers solutions and products based on state of the art technology, and is the leading supplier within DSRC (tag), ALPR (Automatic License Plate Registration) and GNSS (Global Navigation Satellite System) based solutions, with deliveries in Europe, Africa, Asia-Pacific, Middle East and North- and South America. The company has approximately 270 employees and is represented in 17 countries. Headquarter is based in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR. q-free.com