Notification of Trade

Board member and EVP & Head of Strategic Investments Carl Peter Zickerman, a primary insider, (through his wholly owned company Zickerman Group Ltd) has on 11 November 2009 acquired 1,600,000 shares at an average price of NOK 3.5335 per share. Total holding after the transaction is 21,600,001 shares representing 8.2% of the share capital of Polarcus Limited. In addition he holds 190,000 options and 7,500,000 warrants.