IBAS - Offer to acquire all shares

The Board of Ibas has received an offer document dated 15 December 2005 in which Kroll Ontrack AS (“Kroll”), a Norwegian subsidiary of Kroll Inc., makes a voluntary cash offer for all the issued and outstanding shares in Ibas at an offer price of NOK 23.50 per share. The offer period starts on 19 December 2005 and lasts until 9 January 2006.

The offer is supported by the Board of Ibas, and the Board has in accordance with Section 4-18, cf. 4-16 of the Norwegian Securities Trading Act resolved to make the following statement:
“Kroll has in its Offer Document of December 15, 2005 presented a voluntary offer to acquire all the shares in Ibas. The Board of Directors has, in accordance with the Norwegian Securities Trading Act, section 14-8, first paragraph, cf. section 4-16, a legal duty to issue a statement regarding the offer.
Kroll is a strategic buyer that will have the ability to further strengthen and develop Ibas, and Kroll has expressed an intention to incorporate Ibas as a major part of its European operations.
An information meeting has been held with the employees, and based on this meeting the Board’s employee representative has informed the Board that the general attitude among the employees to Kroll’s acquisition of shares is positive.

Kroll offers NOK 23.50 per share, which is approximately 19% above the closing price on November 17, 2005, which was the last trading day for the shares prior to the stock exchange notice of November 18, 2005. Said price has been accepted by way of written conditional pre-acceptances from shareholders representing more than 57% of the shares, including the shares held by the Board members who (directly and indirectly) also are shareholders in Ibas.

The price offered for the shares in Ibas provides in the view of the Board of Directors a fair offer to the Ibas shareholders. The Board of Directors has assigned ABG Sundal Collier ASA to provide a fairness opinion (“Fairness Opinion”) regarding the offer price based on publicly available information. The Fairness Opinion concludes, subject to customary assumptions and conditions, that the terms of the offer are fair to the shareholders of Ibas from a financial point of view.

Based on the above, the Board of Directors recommends that the shareholders accept Kroll’s offer.”

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Further information from:
Svein R Goli, chairman, Ibas Holding ASA, Phone: +47 33 46 77 90, mobile: +47 90 75 67 57
Bjørn Arne Skogstad, President and CEO, Ibas Holding ASA, Phone: +47 62 81 01 00, Mobile: +47 48 14 90 70,
e-mail: bjorn.arne.skogstad@ibas.no

About Ibas:
Ibas is a leader in the field of data recovery, data erasure services and computer forensics services. After the Vogon acquisition, Ibas Group has a presence in the Nordics, Germany, UK and France. The Norwegian listed group has a total of 166 employees, working at the main offices in Kongsvinger, Norway and in subsidiaries in nine countries - Sweden, Denmark, Finland, England, Germany, Poland, France, Singapore and USA. The company also has distributors and agents in a number of other countries in Europe and Asia.

About Kroll:
Kroll Inc. (www.krollworldwide.com), the world’s leading risk consulting company, is a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (www.mmc.com), the global professional services firm. Headquartered in New York, Kroll provides a wide range of investigative, intelligence, financial, security and technology services through offices in more than 65 cities in over 25 countries. Kroll’s principal technology services subsidiary is Kroll Ontrack Inc. (www.krollontrack.com), which is headquartered in Eden Prairie, Minnesota, and provides electronic and paper-based discovery, computer forensics, and data recovery services to companies, law firms, and government agencies. Ontrack Data Recovery (www.ontrackdatarecovery.com), a division of Kroll Ontrack, is the largest, most experienced and technologically advanced provider of data recovery products and services worldwide.