Settlement with ESI

RNS Number:8852B
Jumpit ASA
10 August 2007


Jumpit ASA
("Jumpit" or the "Company")

Re-examination of the patent and settlement with ESI

The Board has reached an out of court settlement with ESI. The decision was
taken having sought legal advice and following developments on a separate
dispute with Why Asap LLC.

As outlined in the Company's AIM Admission Document, the Company has an
outstanding legal case against Why Asap LLC which has been ongoing since
December 2003. The dispute concerns Jumpit's patent rights for the disposable
batteries for mobile phones. Following the discovery of some "prior art"
documents from 1998, Jumpit has instructed its patent advisors, Onsagers AS, to
seek re-examination of its US patent from the US Patent Office. The Board
believes that this step will resolve the question as to whether Jumpit's
disposable battery products are protected by the patent or not.

Due to these ongoing concerns over the US patent, Jumpit has decided, following
legal advice, to settle its dispute with ESI outside court to minimise the
financial risk to Jumpit in terms of both costs and the possible outcome of the
arbitration proceedings.

The dispute with ESI centred around the licence agreement with ESI, pursuant to
which ESI had a licence to exploit the Company's patent to manufacture,
distribute, market and sell the Company's disposable battery products ("Licence
Agreement"). Under the terms of the settlement, Jumpit has agreed to pay ESI an
agreed amount of approximately $200,000, all of which relates to certain
business expenses incurred by ESI during the course of its performance under the
terms of the Licence Agreement. As a result of the settlement, both parties are
free from all obligations under the Licence Agreement. The parties have also
agreed that if the reassessment concludes that Jumpit's patent is valid, ESI
will start paying licence fees, otherwise Jumpit will forfeit licence fees due
under the Licence Agreement. The Board note that based on its conservative
accounting policies, the agreed minimum revenues of US$ 1,750,000, (NOK
10.850.000) due from ESI were not included within revenues for in the year ended
2006.

Jumpit CEO, Morten Hansson commenting on the settlement with ESI:

"I am glad that we have finally reached an agreement with ESI and I look forward
to be able to focus 100% on the day to day operation including sales and
marketing. The reassessment of the patent actually bears more relevance to our
historical performance than to our current and future agreements. None of our
other contracts are termed as licence agreements. Today's agreements are more
conventional distribution and sales contracts to supply our products and, having
left the outcome of that dispute in the hands the US Patent Office, we can now
as a Board and management team refocus on the core business of Jumpit".


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