Jumpit ASA - Appointment

28 November (Stuttgart: A0Z24E - news) 2005

Jumpit appoints new Chief Executive Office

Jumpit ASA ("the Company" or "Jumpit") announces that Petter Kleppe (43) has been appointed Chief Executive Officer with effect from 28 November 2005. Mr. Kleppe has previously served as a Non Executive Director of Jumpit.

Mr. Kleppe joined the Jumpit Board as a founding director in February 2001. He has spent more than ten years in Business Development and Consulting. Most recently he assumed the position of Business Development Executive with IBM Business Consulting Services following IBM (NYSE: IBM - news) 's acquisition of PricewaterhouseCoopers Consulting (PwCC) in October 2002. Prior to that Mr Kleppe was a partner at PwCC serving major client in Europe (Chicago Options: ^REURUSD - news) , the Middle East, and Africa from 1993 to 2002, during which time he served as Managing Director for PwCC in Norway.

Mr. Halvor Isaksen, the former CEO of Jumpit will remain in the Company and work closely with Mr. Kleppe on business development with particular focus on R∓D and the Sales and Distribution of Jumpit's products on a global basis.

Commenting on the new appointments, J. Chr. Borchgrevink, Chairman, said: "We are pleased to welcome Petter in his new role as CEO of Jumpit. Petter has substantial standing within the Norwegian business community as well as significant sector experience. He is therefore ideally positioned to develop ongoing, and generate new, business opportunities."

Mr. Kleppe, CEO, said: "I am pleased to assume the role of CEO of Jumpit. Having been involved with the Company from its inception, I believe we are well positioned in the market to provide cheap and portable energy sources for products such as iPods, cell phones MP3 players, and Blackberrys. I look forward to working closely with the Board and the rest of the management team as we take Jumpit into the next phase of its development."

-ENDS-

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