27 June 2008 - Jan T. Jørgensen has been appointed CEO of Eltek ASA.
Jørgensen has extensive management experience from leading Norwegian
internationally oriented industry companies like Kitron, UMOE,
Kværner and Kongsberg Gruppen.

"We are very pleased to introduce Jan T. Jørgensen as the new CEO of
Eltek. With his international background, and broad industry and
technology experience, Jan has a unique competence that will
contribute to reinforce Eltek as a leader within the globally growing
markets for energy and transmission systems for telecom
infrastructure. I would also like to thank Jørgen Larsen who has led
the company since January, and in a successful way contributed in
bridging Eltek into a new and exciting phase.", says Erik Thorsen,
Chairman of the Board of Eltek ASA.

Jan T. Jørgensen will assume his responsibilities as CEO 4 August,
while acting CEO Jørgen Larsen will resume his position as EVP
Business Development in Eltek ASA.

Jan T. Jørgensen has held top management positions in Norwegian
industrial companies since the late 1980s. He holds a Master's degree
from The Norwegian University of Science and Technology (NTNU) and
additional education from The Norwegian School of Management (BI) and
Harvard Business School. From 1987 till 1999 Jørgensen was CEO of the
Norwegian Kongsberg Gruppen. Later he joined Kværner Group as CEO of
Kværner Oil & Gas, and from 2002-2004 he was engaged by the
industrial investment company UMOE Group. In 2004 Jørgensen became
CEO of the Norwegian listed electronics company Kitron, a position he
held until 2006 when he assumed the position as CEO of a renewable
energy company.

"I'm pleased to have the opportunity to join Eltek - one of the most
exciting Norwegian companies within the technology sector. The
company has taken some exciting strategic initiatives during the past
years, and I'm convinced that this has provided a unique foundation
for realising the ambitious targets of retaining and further
strengthening the company's leading position as supplier of power and
transmission products and services to the telecom industry", says Jan
T. Jørgensen.

Jan T. Jørgensen has been assigned 40,000 stock options in connection
with his employment as the new CEO of Eltek ASA. The options have a
strike price of NOK 36.00. The options will have a vesting period of
3 years and maturity of 2 years. The gain from the option program is
capped at 300% of the strike price, and 25% of any additional gain
above that level. For Group management the options are performance
based and can be exercised in March 2011 - 2013, provided that
specific targets for 2008 - 2010 are met.

For further information, please contact:
Erik Thorsen, Chairman of the Board, +47 907 56 685
Jan T. Jørgensen, CEO, +47 918 37 759





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