First North announcement no. 12, 2008 Copenhagen, August 21, 2008 Interim announcement for the first half of 2008 • Focus in the first half of 2008 has been partly on sowing of transgenic plants in Serbia, partly on establishing operational companies in the Balkans with a view to investing in and clearing of mine-affected land • After the end of the first half, sowing of transgenic plants has taken place and agreements have been made to invest in mine-affected land • The management regards the accounting figures for the first half as satisfactory • The management of the company has started preparations for a future capital increase and is expected to submit a proposal in the near future Sowing of transgenic plants After the end of the first half, the first transgenic plant lines have been sown on the test site in Serbia. The result of the present tests is expected to be available by the end of September 2008. A planned continuation of the sowing programme in South Africa has been suspended pending an increase in the number of available transgenic plant lines. Establishing companies and investing in mine-affected land in the Balkans After the end of the first half, the company has established two subsidiaries in Croatia and Serbia, respectively, with a view to investing up to DKK 5m in mine-affected land during 2008. The first investments have been made, and the company today owns a total of 1.4 ha. of mine-affected land in Croatia. There are plans, and agreements have been prepared, to use the financial framework to invest in up to 50 ha. of mine-affected land during the year, upon which the clearing of landmines is expected to be able to start. The expenses for the clearing of landmines are expected to be co-financed by official donor funds, and Aresa may thus become the first foreign investor to enter into a Public Private Partnership (PPP) for the clearing of landmines in Croatia. By entering into a PPP in Croatia, Aresa contributes to a more rapid clearing of landmines than would otherwise have been the case. The government of Croatia is thus very positive towards this cooperation. Financial information - financial statements The company's unaudited accounting figures for the period 1 January to 30 June 2008 appear in the following pages. Result The loss for the period of DKK 7.197m is in accordance with expectations and is regarded by the management as satisfactory. The expectations for the full year remain a loss of DKK 16-18m. Liquidity Cash and cash equivalents amounted to DKK 16.5m at the end of the first half of 2008 compared with DKK 23.2m on 31 December 2007. Capital structure The company expects to propose a capital increase in the near future in order to strengthen its capital base. A general meeting will thus be convened in the near future at which the plans for the capital increase will be submitted for approval. Miscellaneous information Share information Aresa's share capital is listed on Nasdaq/OMX-First North. At the end of the first half the share price was 12.90 compared with 13.10 at the end of 2007. During the first half of 2008 100,881 Aresa shares were traded at Nasdaq/OMX-First North. In accordance with s 29 of the Danish Securities Trading Act, the following shareholders have informed Aresa that they own more than 5% of the company's share capital: • S-A invest A/S, 12.86% • Carsten Meier, 8.04% • Vækstfonden, 7.64% • Forsknings- og innovationsstyrelsen, 7.03% • Aps Falkenhøj, 6.99% • Olav W. Hansen A/S, 5.39% Own shares The company owns 2,723 of its own shares, corresponding to 0.1% of the share capital. Warrant programme In consequence of a resolution passed at the general meeting in March, the board of directors has issued warrants to the employees and the executive management corresponding to a total nominal amount of DKK 126,000. Part of the issue is conditional on previously issued warrants not being exercised. At the end of the first quarter of 2008, warrants were therefore issued for a total nominal amount of DKK 193,000. No further warrants were issued in the second quarter of 2008. The current authority granted by the general meeting in March authorises the board of directors to issue warrants for a further nominal amount of DKK 24,000. Shareholdings of insiders As at 30 June 2008 the members of the board of directors and the executive management of Aresa hold, directly or indirectly, a total of 402,985 shares in Aresa A/S, which is unchanged from the situation as at 31 March 2008. The certified advisor and its relevant employees have no shareholdings in the company. Financial calendar The third quarter announcement is expected to be made on 31 October, 2008. For more information, please contact Steen Thaarup CEO Phone.: +45 7022 7747 Mobile: +45 4077 8695 E-mail: st@aresa.dk The company's certified advisor is Dahl-Sørensen & Partners A/S, Allan Reimann, tel: +45 3364 9205. About Aresa Aresa is a plant biotech company established in 2001 by the company's current SSO, Carsten Meier. It originates from the Institute of Molecular Biology at Copenhagen University. Aresa focuses on the plant-based technology platform: BioSensor for the detection of substances in soil, including leakage of explosives from landmines. Aresa was listed on the Nasdaq/OMX-First North in 2006. Aresa is based at Symbion Science Park in Copenhagen and has greenhouse facilities on the outskirts of Copenhagen and test sites in Denmark, Croatia and Serbia. Aresa has 11 employees, 7 in research & development and 2 in landmine operations.