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2014-04-08

PSI Group ASA : PSI Group ASA acquires 100 per cent of Vensafe AS through a private placement

Vensafe AS held a general meeting today where the existing share capital was
written down to zero. Simultaneously they completed a private placement
towards PSI Group ASA of MNOK 1 which makes Vensafe AS a fully owned
subsidiary of PSI Group ASA. In addition to the capital contribution, PSI
Group ASA aquires the company's debt and liabilities totaling MNOK 15.

Vensafe AS is an ambitious Norwegian technology company, founded in 1998,
which develops and markets automated sales solutions small and valuable goods
exposed for theft in retail. The company's products streamline store
operations, reduce shrinkage and theft and help reduce working capital on a
number of high value products.

Vensafe AS is headquartered in Moss and has subsidiaries in Germany and
Belgium.

At the end of 2013 Vensafe has delivered and installed more than 5300 product
vending machines in Scandinavia, Germany and Belgium. Annual service revenues
from these installations account for just less than MNOK 20. Total revenue in
2013, including new sales of systems, was MNOK 62.

The financial results in Vensafe AS have in recent years been very weak.
Equity at the end of 2013 was negative by MNOK 6.8. Former shareholders,
directors and management of the company have therefore decided to let Vensafe
be developed by PSI Group. It has been invested more than MNOK 100 in
Vensafe's technology since 1998. The company is in an exciting phase with
fully developed products and technology solutions. The business will now be
trimmed and focused on further internationalization. At the same time, sales
and service resources on the home market in Norway and Sweden will
strengthened in collaboration with PSI's business area PSI Retail.

PSI Group knows Vensafe well from a long term collaboration in Sweden, where
the subsidiary PSI Antonson AB, which is part of the business area PSI
Retail, has marketed and carried out service and support on Vensafe since
2012.

This transaction complements PSI Group ASA's existing portfolio targeting
retailers and will lead to a further strengthening of PSI Group ASA's role as
a major player in value added solutions aimed at retail and specialty stores.

"PSI Group ASA has CashGuard and SQS Security in its technology portfolio.
CashGuard realized a growth of more than 40 per cent in 2013 to MNOK 127. Our
technology portfolio will significantly strengthen by this transaction.
CashGuard / Vensafe appeal to the same customer segments with their
innovative technology solutions that increases the profitability of the
retailers ", says CEO of PSI Group ASA, Jørgen Waaler.

"The business combination will lead to synergies in sales, marketing,
development, production and management. At the same time we will invest in
further development in Vensafe." concludes Waaler.

For further information, please contact:
Jørgen Waaler, CEO PSI Group ASA, Phone: +47 9059 0010

About PSI Group:

PSI Group's mission: Driving Retailers' profitability by providing innovative
integrated Technology Solutions enabling store owners to perform to their
full potential.

PSI Group, a public company listed at Oslo Stock Exchange, has it's
headquarter at Rælingen, close to Oslo, with a total staff of approximately
340 in Scandinavia and Europe.

For further information: www.psigroup.no

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: PSI Group ASA via Globenewswire

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