Power of Attorney to Increase Share Capital

At the annual general meeting on April 20, 2005, the Board of Tandberg Storage ASA was given the power of attorney to increase the company's share capital by up to NOK 8,707,666.80 by issuing up to 11,542,900 shares with a nominal value of NOK 0.84.  As of September 19, 2006, 4.987.800 shares have been issued, 5.409.583 shares are allocated to a convertable loan and 1.160.517 shares remain to be issued.

The Board has been authorized to set the time for the capital increase, the subscription price and other subscription conditions. Any premium on the shares shall be added to other equity. The power of attorney is valid for two years from the date of the decision of the annual general meeting. The company's shareholders relinquish their pre-emptive right to purchase shares in accordance with § 10-5 of the Norwegian Public Limited Companies Act ("Lov om allmennaksjeselskaper"), c.f. § 10-4.
 
The aim of the power of attorney is to enable the Board to secure the company's freedom of action and solidity in relation to potential OEM customers' requirements concerning the adaptation of development projects and/or financial obligations in connection with beginning production of the company's LTO (Linear Tape Open) product.
 
The power of attorney does not include capital increases covered by contributions of assets other than money, or merger-related decisions.