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Regulatory press release

SKAND: Management change

Skandia GreenPower
Skandia Greenpower AS announces today that the Company's CEO, Lene Johansen, has
resigned her position effective immediately. The Board of Directors has
appointed Kristine Ribe-Christensen, Skandia Greenpower's current COO, as
interim CEO and will initiate a process to identify the Company's next permanent
CEO.

«On behalf of the Board and everyone at Skandia Greenpower, I want to thank Lene
Johansen for her strong leadership and dedication to the Company. Since Lene
took over as CEO last year, she has overseen the commercial launch of elKompis
and has contibuted substantially to the development and growth of the Company.
Although I am sad to see Lene leave the Company, I wish her all the best in her
future endeavors» said Erik Tønnesen, Chair of the Board.

Ms Johansen will dedicate her time in a strategic role for the Company for the
next months and will also ensure a sound transition to Mrs Ribe-Christensen.


For further information, please contact:
Erik Edvard Tønnesen,
Chair of the Board
e-mail: erik@skagerakcapital.com
Phone: +47 908 81 948
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