Safran North America Ownership Composition Changed to New Partner

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New ownership composition severs connection with Proha and negotiates option to acquire Safran Software Solutions of Stavanger, Norway

With the combination of Proteus, Safran Project, Safran for Microsoft Project and Safran Planner we have a complete solution for the project management space second to none.

Safran North America (SNA), one of the world's leading manufacturers and distributors of project management applications, announced that it has agreed to allow 49% of its shares, formerly held by Safran Software Solutions, AS, a fully-owned subsidiary of Proha Plc, to be sold to a Norwegian investment group, SNA Holding AS. Among the partners in SNA Holding are Steinar Dalva, founder of Safran Software Solutions AS of Stavanger, Norway; Croxus AS and StatoilHydro, a multi-billion dollar integrated technology-based international energy company primarily focused on upstream oil and gas operations.

Safran North America will continue to be the exclusive distributor of Safran products in North America, which includes the United States, Canada and Mexico. In addition, SNA Holding AS negotiated with Proha Plc the right to exercise an option for the acquisition of Safran Software Solutions AS. The option is in effect until 31 December 2012.

"Through this change in shares Safran North America has acquired a consistently profitable partner focused on software quality that will allow us to diversify our offerings to the North American market using the latest technologies," said Safran North America CEO, Nicholas Pisano. "We are excited that Steinar Dalva, the original founder of Safran, and his business partners are part of our team and have both the desire and means to ensure a long-term commitment to Safran North America's core markets."

"To support our clients and the demands of the market we're dedicated to expanding Safran products throughout the North American market and into Asia," said Steinar Dalva, CEO of SNA Holding AS. "Through our consortium of companies we can provide Safran North America with the financial stability and long-range focus needed as we continue to provide the high quality applications demanded by our customers and introduce market-proven and innovative applications that have succeeded in the transnational market that can enhance our product set in North America."

To emphasize his last point Mr. Dalva referred to the project integration and intelligence application known as Proteus as only the first of these products that will round out Safran's product set. "With the combination of Proteus, Safran Project, Safran for Microsoft Project and Safran Planner we have a complete solution for the project management space second to none."

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Donna Pisano

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