Good quarterly performance and defined growth objectives following successful merger

PSI Group ASA delivers a good financial performance in the 2nd
quarter following the concluded merger with CashGuard and defined
objectives for international growth and success. PSI Group now
appears as a new and leading international company within efficient
handling and securing of cash - with two market leading technologies
- and a very strong market position in Norway and Sweden. The
financial figures for the 2nd quarter show that the new company is in
high gear with a high level of activity.

- Operating revenues of NOK 135.2 million (NOK 133.5 million) in 2nd
quarter and of NOK 233.2 million (NOK 253.8 million) in first half
year
- EBITDA of NOK 11.3 million (NOK 16.3 million) in 2nd quarter and of
NOK 16.8 million (NOK 30.4 million) in first half of the year
- The merger with CashGuard AB has been implemented in the financial
statements with effect from 10 June 2008 and with final legal effect
from 26 August 2008
- Concurrently PSI Group is listed on NASDAQ OMX in Stockholm from 26
August this year
- A considerable restructuring project is in progress in CashGuard AB
focusing on cost reductions and increasing the efficiency of the
international sales force

PSI Group's operating revenues amounted to NOK 135.2 million in the
2nd quarter with EBITDA of NOK 11.3 million after including
CashGuard's operations in the financial statements from 10 June to 30
June this year. This represents an increase from the same period last
year (NOK 133.5 million), which is especially strong compared to 1st
quarter 2008 (NOK 98.1 million). At the same time the EBITDA is more
than doubled from 1st quarter this year (NOK 5.6 million).

- This demonstrates that the conditions for further success and
growth in the international markets are good in combination with a
very solid business platform in the Scandinavian home markets, says
Jørgen Waaler, CEO of PSI Group ASA, and adds:

- We are well satisfied with both revenues and profit in the 2nd
quarter, taken into account that the merger was implemented in this
quarter and that the same period last year was a record quarter for
PSI. As a new company with European and international growth
ambitions, we already see many synergies and defined benefits which
are derived from a closer industrial, market and sales connection
within the new Group. We have already come far in taking out
synergies and identifying further potential for improvements, which
alone is expected to yield annual savings of NOK 20-30 millions in
the time to come.

PSI's profit is debited by NOK 7.8 million related to the ownership
in CashGuard prior to the merger. This loss is to a strong degree
affected by one-off expenses related to merger and restructuring
costs. The merger with CashGuard AB is implemented in the financial
accounts with effect from 10 June this year and was completed
pursuant to company law on 26 August, the same day the PSI Group was
listed on the Nasdaq OMX Nordic List in Stockholm.

In connection with the merger implementation it is decided to change
the reporting on business areas such that the segment information
better reflects the various fields of operations in the new Group;
Retail Solutions, Cash Management Retail og Cash Management CIT/ATM.

A POSITIVE DRIVE WITHIN RETAIL SOLUTIONS
Within Retail Solutions, which represents the previous operations of
PSI prior to the merger, a strong increase in both revenues and
EBITDA from last quarter is demonstrated - especially in Sweden. This
is due to a higher activity level within all parts of this business
area. In the 2nd quarter of 2008, 406 CashGuard systems were
delivered in Norway and Sweden.
.
LARGE POTENTIAL WITHIN CASH MANAGEMENT RETAIL
Within Cash Management Retail, which comprises the previous
operations of CashGuard, in the period from 10 June to 30 June large
deliveries have been limited to Norway and Sweden.

In connection with the merger, this business area has been examined
closely to take advantage of considerable cost synergies and to make
the organisation more efficient and partner oriented in the
international marketplace. The impact of this is expected to increase
the profitability of the operations.

- Within Cash Management Retail there is a generally good activity
level in both Norway and Sweden. Pending larger long-term deliveries
in Norway, the Swedish operations demonstrate a high activity level
with on-going deliveries to a wide range of customers. At the same
time there is a considerable interest for CashGuard's solutions in
the other global markets where we are represented. Several pilot
installations have been made in France, Portugal and South Africa,
whereas the pilot phase has been concluded in Spain and Germany. We
strongly believe in the growth potential related to CashGuard and we
will work hard to succeed in this business area, comments Jørgen
Waaler i PSI Group.

HIGH LEVEL OF ACTIVITY WITHIN CASH MANAGEMENT CIT/ATM
Within Cash Management CIT/ATM, which includes SQS, the development
is positive with a high level of activity and a good financial
performance. On a global basis the market for securing cash in ATMs
and securing cash in valuables transports is large and has
considerable potential. In the 2nd quarter large deliveries have
mainly been made in Mexico and Sweden. In addition, deliveries from
this business area include the delivery of CashGuard Blue technology
to CashGuard AB. There is a continuous and good influx of orders for
SQS's closed systems for refilling ATMs with cash - and in addition a
new and patented valuables transport unit is expected to be delivered
for pilot installation at the end of 3rd quarter.

A POSITIVE OUTLOOK
The objective to become a leading international technology company
with new and considerable market opportunities has been the PSI
Group's vision these past years. This objective is now to a great
extent achieved.

Cash Management Retail is in a build-up phase in several
international markets. As the distinct market leader, the company
appears well positioned to achieve a sales and market break-through
outside Scandinavia. On the basis of the considerable cost reductions
already implemented and the expectations of continuously increasing
volumes, a considerable improvement in profitability is expected as
the company moves forward.

Cash Management CIT/ATM is experiencing a considerable demand from
existing and new customers and is expected to deliver a good
financial performance ahead.

The market outlook within Retail Solutions is positive - especially
within electronic shelf labelling and cash handling solutions.
Efforts are being made to obtain more significant contracts which
will also have an impact on Cash Management Retail.

For the year 2008, with CashGuard incorporated in the PSI Group from
10 June this year, it is expected that the revenues will total NOK
600-650 million with an EBITDA margin of 10-12 percent.

- Through the merger with CashGuard, PSI has become a new and
international company - with ownership of technology and production
facilities - something which will result in considerable benefits and
which also is expected to result in a considerably improved
competitive force and good margins, says Jørgen Waaler.

For additional information please contact:

Jørgen Waaler
CEO of PSI Group ASA
Phone +47 905 90 010

Facts about PSI Group
PSI Group is a leading global provider of closed cash handling
solutions in the society and provider of retail technology for
improving the efficiency of price, goods and consumer information in
selected geographical areas.

PSI Group is head quartered in Rælingen (Norway) and employs around
360 staff in Scandinavia and Europe. The company is listed on the
Oslo Stock Exchange and Nasdaq OMX in Stockholm.

For more information, see www.psi.no.