REPORT FOR 3RD QUARTER 2007 - ACCORDING TO PLAN

The company demerged the offshore operations into
an independent listed company, Scan Subsea ASA.
The demerger has visualised the underlying values
that these operations represented. At the same
time the company`s concentrated focus on the
rapidly growing market for navigation and location-
based services gave Blom a new and exciting
dimension.

The profit and loss account for the 3rd quarter
shows operating revenues of NOK 181.8 million, an
increase of 14% over the corresponding quarter
(GI) last year. The EBITDA result for the period
was NOK 42.5 million, which corresponds to a
margin of 23.3%. The company is satisfied with the
development of revenue and operating margins.

The total operating revenues were NOK 520.6
million as of 30 September and show an increase of
30.8% over the corresponding period in 2006 (GI).
The profit margin shows a corresponding increase
from 18.7% as of 30 September 2006 to 19.7% as of
30 September 2007. Earning before tax was redused
with non-recurring costs related to structural
reorganisation of NOK 20 million which in time
will improve the value creation for shareholders.

The completion of ongoing sales processes requires
more time and resources than originally assumed.
Postponement of the database sales gives therefore
somewhat lower operating revenues in the quarter
than the company had expected.

The company has evaluated, as previously
announced, the strategy for its ownership interest
in Scan Subsea ASA. Parker Hannifin Corporation
has made a voluntary bid for all the shares in
Scan Subsea ASA at a price of NOK 22 per share,
for a total of NOK 1.4 billion. If the transaction
is completed Blom receive this a total sales
proceeds of NOK 515 million, and records a capital
gain of around NOK 370 million.

As part of this agreement Blom has given an
irrevocable advance acceptance for the voluntary
bid for all of its 23,369,756 shares in Scan
Subsea, corresponding to 36.7% of all the
outstanding shares in the company.

The voluntary offer from Parker is contingent on
the successful completion of due diligence, 90%
acceptance, permits from the authorities, and no
significant impairment to Scan Subsea`s
operations.

The full report can be downloaded here

For further information please contact:

CEO, Mr. Dirk Blaauw, on tel. +47 22 13 19 23 or

CFO Jan Erik Braathen on tel. +47 22 13 19 24.