NOTE 11
THE TANDBERG SHARE

EARNINGS PER SHARE A total of 1,950,000 options were issued at 31.12.05. When calculating diluted earnings per share, the share capital to be paid-in relating to these options is not taken into consideration as these options were out-of-the-money at year end.



The Board of Directors has suggested a dividend amounting to NOK 0.65 per share. In accordance with IFRS, an accrual for dividends are not made until a formal decision has been made by the Annual General Meeting.

BUY-BACK OF SHARES At the Extraordinary General Meeting, 10 November 2004 an authorization to buy-back 10% of outstanding shares was given to the board. During 2005, a total of 12,059,500 shares were bought back at an average share price of NOK 68.23 per share. During the same period a total of 4,243,218 shares were sold at an average share price of NOK 47.76 per share. As of 31 December 2005, 12.34% of the authorization given to the board had not been used. The intention is to use the shares in connection with incentive schemes for employees, acquisitions or to cancel the shares through a capital reduction.

LARGEST SHAREHOLDERS Summary of the largest shareholders as of 31 December 2005 in TANDBERG asa:



There has not been an increase in the number of shares during 2005. The total number of issued shares as of 31 December 2005 was 134,324,806 with a nominal value of NOK 1 per share.