Reference is made to the press-release dated 7 January 2009 regarding
the commencement of the subscription period in the Subsequent
Offering of up to 30,000,000 new shares in the Subsequent Offering in
Eltek ASA ("Eltek" or the "Company").

The subscription period for the Subsequent Offering expired yesterday
on 21 January 2009 at 17:30 hours (CET). A total of 34,760,949 new
shares were subscribed for in the Subsequent Offering during the
subscription period. In a Board meeting held 22 January 2009, the
Board of the Company has approved the list of the final allocation of
the new shares, based on the allocation principles as set out in the
prospectus dated 30 December 2008. Thus, the Board resolved to
increase the share capital with NOK 30,000,000 by the issuance of
30,000,000 new shares, each with a nominal value and subscription
price of NOK 1. Following the registration of the new shares, the
number of outstanding shares will be increased from 299,205,923 to
329,205,923 shares.

Listing and commencement of trading on Oslo Børs of the new shares
issued in the Subsequent Offering will take place as soon as the
share capital increase has been registered with the Norwegian
Register of Business Enterprises, which is expected to be on or about
6 February 2009.

For full details regarding the Subsequent Offering, reference is made
to the press-release dated 23 December 2008 and the prospectus dated
30 December 2008.

The following primary insiders were allocated shares in the
Subsequent Offering:

Hanne Cathrine Enger, Deputy Board member, was allocated 9,902
shares. Total holding after the Subsequent Offering will be 11,902
shares and 1,000 options.

Kirsti Johnsen, Deputy Board member, was allocated 9,902 shares.
Total holding after the Subsequent Offering will be 11,902 shares and
113 options.

The Subsequent Offering was managed by SEB Enskilda AS.

For further information, please contact:
Jan T. Jørgensen, CEO, tel. +47 918 37 759
Pål Skistad, CFO, tel. +47 908 50 378

Important Notices
The contents of this announcement have been prepared by and are the
sole responsibility of Eltek. SEB Enskilda AS is acting exclusively
for Eltek and no one else and will not be responsible to anyone other
than Eltek for providing the protections afforded to their respective
clients, or for advice in relation to the contemplated private
placement and possible subsequent offering, the contents of this
announcement or any of the matters referred to herein.
The distribution of this announcement and other information in
connection with the subsequent offering may be restricted by law in
certain jurisdictions. Persons into whose possession this
announcement or such other information should come are required to
inform themselves about and to observe any such restrictions.
This announcement may not be used for, or in connection with, and
does not constitute, any offer to sell, or an invitation to purchase,
any securities. The subsequent offering will not be made in any
jurisdiction or in any circumstances in which such offer or
solicitation would be unlawful.
This announcement is not an offer to sell or the solicitation of any
offer to buy any Eltek shares or other securities of Eltek (the
"Securities") in the United States or in any other jurisdiction. The
Securities have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States unless
registered under the Securities Act or an exemption from such
registration is available. Eltek will not make a public offering of
Securities in the United States in connection with the subsequent
offering.
The Eltek shares have not been and will not be registered under the
applicable securities laws of Australia, Canada or Japan and may not
be offered or sold within Australia, Canada or Japan.
In the United Kingdom, this announcement is directed only at persons
who (i) have professional  experience in matters relating  to
investments falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005 (as amended,
the "Financial Promotion Order"), (ii) are persons falling within
Article 49(2)(a) to (d) ("high net worth companies, unincorporated
associations etc") of the Financial Promotion Order, (iii) are
outside the United Kingdom, or (iv) are persons to whom an invitation
or inducement to engage in investment activity (within the meaning of
Section 21 of the Financial Services and Markets Act 2000) in
connection with the issue or sale of any securities may otherwise
lawfully be communicated or caused to be communicated. This
announcement is directed only at such persons and must not be acted
on or relied on by persons in the United Kingdom who are not such
persons. Any investment or investment activity to which this
announcement relates is available in the United Kingdom only to such
persons and will be engaged in only with such persons and no other
persons in the United Kingdom should rely or act upon this
announcement.
All investment is subject to risk. The value of the Eltek shares may
go down as well as up. Past performance is no guarantee of future
returns. Potential investors are advised to seek expert financial
advice before making any investment decision.


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.



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