Summons for Bondholders Meeting

Reference is made to earlier press-releases

Reference is made to earlier press-releases on this subject, the latest on 24 August 2009 announcing that the due dates for payment of the interest originally due in June 2009 for each of the Bond Loans had been further deferred until 30 September 2009 for the USD 175 million second lien bond loan and 1 October 2009 for the USD 75 million convertible loan.  

The discussions between the banks, the bondholders and the company are continuing. However, in accordance with the loan agreements there are new interest payment dates of 7 September 2009 for the USD 175 million second lien bond loan and 25 September for the USD 75 million convertible bond loan coming up. 
In order to handle and facilitate this a summons for a new Bondholder Meeting to be held on 10 September 2009 will be issued today asking the Bondholders in the two Loans to: 

1. Defer the interest payment dates for the USD 175 million second lien bond loan from 7 September 2009 to 30 September 2009, and from 25 September 2009 to 1 October 2009 for the USD 75 million convertible bond loan.
    
   
2. On a monthly basis give the Loan Trustee a Power of Attorney to further defer the interest payment dates originally due in September provided 50% of the Bondholders agree.  Each new deferral of the interest payment due dates will be subject to the banks agreeing to release sufficient working capital for the same period.  

This will give the Company more time to continue the discussions with its banks and bondholders in order to seek a solution to its current financial challenges.

For further information, please contact:

   Anders Holm, CEO
   aho@nexusfp.no
   +47 90 60 50 72

   Arild Bårdsen, CFO
   aba@nexusfp.no
   +47 92 66 75 90