Hexagon Composites ASA had a first quarter turnover of MNOK 280.5 (141.3) and a operating profit before depreciation (EBITDA) on MNOK 42.9 (1.8). Operating profit (EBIT) was MNOK 23.0 (-11.1). Profit before tax ended on 19.1 MNOK (-7.0) in first quarter 2011.

Key events in the group since the last interim report:

* Account receivables related to a major delivery from Ragasco received
* Lincoln Composites with strategic breakthrough with TITAN(TM) in Asia
* Ragasco secured important contract with large European car manufacturer for delivery of composite containers
* Positive development for Devold AMT

For more information:

Erik Espeset, Group President, Hexagon Composites ASA
Telephone: +47 90 52 00 33 | E-mail: [email protected]

Tor O. Husø, CFO, Økonomidirektør, Hexagon Composites ASA
Telephone: +47 95 81 97 74 | E-mail: [email protected]

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