Lapse of Offer and Placing

RNS Number:1268I
Jumpit ASA
20 November 2007

Jumpit ASA

("Jumpit" or the "Company")

Lapse of Offer and Fundraising

Lapse of cash offer for the entire issued share capital of Jumpit ASA

Jumpit announces that the recommended cash offer of NOK 0.05 (approximately 0.45
pence per share) (the ' Springfield Offer') has now lapsed.

As at 3.00 p.m. (Oslo time) on Friday 16 November, the final closing date of the
Offer, valid acceptances of the Offer had been received in respect of 14,743,253
Jumpit shares, representing approximately 29.1 per cent. of the issued share
capital of the Company. This included acceptances in respect of 10,504,554
shares received pursuant to an undertaking from the Chairman of the Board of
Jumpit, Christian Borchgrevink and an another Board director, Petter Sorlie who
have combined holdings, directly and indirectly, of shares representing 20.8% of
the issued share capital of the Company.

Accordingly the Springfield Offer has now lapsed and accepting Jumpit
shareholders have ceased to be bound by any such acceptances and are free to
deal in their shares.

Jumpit secures working capital through underwritten placing

As announced on 28 September 2007, the Company has an immediate need for working
capital and has been exploring options to fund its trading objectives.
Accordingly, Jumpit is pleased to announce that Springfield AS ("Springfield")
has agreed to underwrite a placing of up to #1 million of new shares.  The
underwriting is conditional on Springfield acquiring the shares held by Cabehefa
AS, J. Chr Borchgrevink and Motivator, representing in aggregate 20.8% of the
Company. Cabehefa AS, J. Chr Borchgrevink and Motivator have agreed to sell
their respective interests to Springfield for 0.45p per share.

The Company will convene an extraordinary general meeting ("EGM") to approve the
placing, and further details of the proposed placing and certain other matters
will be set out in full in a circular to be distributed to shareholders in due
course.

Mr. Morten Hansson, Jumpit CEO comments on the announcement; "I am delighted
that we have secured the support of Springfield who have shown their commitment
to Jumpit in agreeing to underwrite the placing. I am confident that Jumpit will
benefit from Springfield's expertise and distribution network in the mobile
phone industry."


Enquiries:

Jumpit                   Morten Hansson                       + 47 67 82 70 40
                         Chief Executive Officer

HansonWesthouse          Bill Staple                            020 7601 6100
                         Martin Davison


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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